Description
1. (Original Content Only) (400 Words for the Reply) (APA citations) (In-text citations are a must) (Use the sources listed for citations) (Must include Biblical integration of scripture relating to accounting topic) (Opinion is worth little unless it is supported by quotes and/or paraphrases from the textbooks and professional journals)
Sources to be cited: Blocher, E. J., Juras, P. E., & Smith, S. D. (2021). Cost Management: A Strategic Emphasis, (9th edition). Boston, MA: McGraw-Hill.
Use https://www.jstor.org/ to find journal articles
*Original Question: Select a well-known company with which you have some familiarity (specify the type of industry). Then, select 1 of the contemporary management techniques listed in Chapter 1 of the Blocher, Juras, & Smith textbook.
*(Reply to the POST below) (follow the guidelines above)
Discussion Thread: Cost Management, Strategy, Technique
BDO USA, P.C.
BDO USA, P.C. is the fifth-largest accounting firm in the world, with over $2.82 billion in U.S. revenue in 2023 (BDO USA, 2024, About us). BDO has many different industries they primarily focus on, whether that be government services, financial services, technology, or healthcare; BDO will always provide a unique approach to its accounting, audit, and consulting services, creating a one-stop shop for an organization. Conveniently, BDO has over 75 offices nationwide with a unique approach to having five core values: “people first, embrace change, choose accountability, exceptional every day, every way, and empowerment through knowledge” (BDO USA, 2024, About us). While competing within the accounting industry, BDO strives to stand out from a typical large public accounting firm. BDO stands on the pillars of sustainability and ESG, which provides a unique edge for the firm to stand out.
Sustainability
Blocher et al. (2022) share that sustainability is “the balancing of the organization’s short- and long-term goals in all three dimensions of performance—social, environmental, and financial” (p. 16). Primarily when most think of sustainable impacts, individuals compare this to utilizing materials well, getting rid of waste, and truly thinking about the environmental aspects of sustainability, which is often seen in firms producing goods. Sustainable impacts can be implemented in a firm by the way they invest their resources; “In 2020, $17.1 trillion—or 33%–of assets managed in the United States were branded as sustainable investments” (Christensen et al., 2021). BDO has utilized its platform to truly emphasize its take on sustainability by supporting businesses to take advantage of various incentives and tax credits. BDO USA (2024, Sustainability and ESG) further states “For us, sustainability isn’t about checking boxes. It’s about taking steps to continuously evolve our business to be more responsible and more resilient. It’s about doing our part to make a positive impact and be a force for change, leading with purpose, holding ourselves accountable, and prioritizing long-term stability over short-term financial rewards”. BDO focuses on its investment in sustainability by creating equity via its clientele. Sustainability practices primarily focus on the future trajectory of a company and identifying steps in how to make a change now. As Blocher et al. (2022) identified, sustainable practices can be integrated by advancements in operations and processes, towards efficiency with “social and environmental impacts” (p. 16). The International Journal of Management Review has stated that “corporate sustainability management accounting (SMA) organizes the collection, analysis, and communication of environmental, social, and economic information for internal use by the organization’s managers” (Schaltegger et al., 2022). Corporate sustainability management accounting is primarily focused on at BDO to allow for their Sustainability Code of Ethics to be upheld; BDO strives to ensure clients are receiving up-to-date information regarding various rulings and acts, such as the IRA, which will truly impact plenty of BDO’s clientele seeking tax credits and incentives (BDO USA, 2024, Sustainability and ESG).
Sustainability and Success
As Christians, we must steward what the Lord has given us on this earth. There are many expressions in the Bible from the time of creation of God giving dominion to man on this earth. Genesis 1:28 (New International Version, 2011), states “God blessed them and said to them, “Be fruitful and increase in number; fill the earth and subdue it. Rule over the fish in the sea and the birds in the sky and over every living creature that moves on the ground”. BDO has indeed seen positive factors within its revenues and services growing over the years as sustainability has been a foundational practice throughout the firm. Within the accounting industry, firms have reported the impacts that they have seen within the sustainability reporting requirements, with restrictions to encourage sustainable/ESG practices (Elkins et al., 2024). Along with many other large accounting firms, Elkins et al. (2024) report that “Climate change is relevant and material across all jurisdictions, and the development of a climate standard is very urgent”. With sustainability implemented for many years to come, BDO will be able to aid those seeking new tax incentives and create investments in clean energy.
References
BDO USA. (2024). About us. BDO USA, P.C. https://www.bdo.com/aboutLinks to an external site.
BDO USA. (2024). Sustainability and ESG. BDO USA, P.C. https://www.bdo.com/sustainability-esgLinks to an external site.
Blocher, E., Juras, P., & Smith, S. (2022). Cost Management: A Strategic Emphasis, Ninth Edition. McGraw Hill LLC.
2. (Original Content Only) (650 Words for the Post) (APA citations) (In-text citations are a must) (Use the sources listed for citations) (Must include Biblical integration of scripture relating to accounting topic) (Opinion is worth little unless it is supported by quotes and/or paraphrases from the textbooks and professional journals)
Sources to be cited: Blocher, E. J., Juras, P. E., & Smith, S. D. (2021). Cost Management: A Strategic Emphasis, (9th edition). Boston, MA: McGraw-Hill.
Use https://www.jstor.org/ to find journal articles
*(Write a Discussion Board THREAD based on the question below) (Follow the guidelines)
When are companies likely to use a job costing system or process costing system? Describe the specific characteristics of each system and provide at least 2 examples from companies in your United States community for each system (at least 4 companies should be described).
