A Cost-Of-Quality (COQ) Reporting Format May Be Applicable to Help

question 1

Essay

A Cost-of-Quality (COQ) reporting format may be applicable to help support the sustainability goals of organizations. Indeed, the development of such a reporting framework would likely be viewed as a significant improvement to an organization's management accounting and control system.
Required:
1. Use your knowledge of COQ reporting to speculate on an "environmental assessment" reporting framework. This tool should identify each aspect of the organization's activities that affect the environment, in terms of both living and non-living natural systems (ecosystems), including land, water, and air. (That is, what are some of the environmental impacts that the management accounting system could assess and monitor?)
2. In the past, management accountants focused on a traditional approach to environmental risk management, wherein the focus was on ensuring regulatory compliance (EPA, etc.) in order to minimize fines, penalties, and legal costs). In today's business climate, however, more will likely be expected of the management accountant. What type of opportunities, associated with environmental performance, might the management accountant suggest to management?

---

Definitions:

Ointment

A semi-solid preparation applied topically to the skin or mucous membranes for therapeutic reasons.

Parenteral

Any medical therapy administered in a way other than through the digestive system, commonly including injections through intravenous, intramuscular, or subcutaneous methods.

Enema

A procedure in which liquid or gas is injected into the rectum to expel its contents or to introduce drugs or permit X-ray imaging.

Prescription

A written order from a healthcare professional authorizing a patient to be provided a medicine or treatment.