Question 4

Using your own words, prepare a short-written answer to each of the requirements below.

Required:

1. What does cost volume profit analysis examine?

[3 marks]

1. What is Elkington's Triple Bottom Line and what organisations are interested in triple bottom line accounting?

[3 marks]

1. What are the 5 ethical principles? Give an example of what each principle means.

[3 marks]

1. What are the five major frameworks in accounting literature that are the basis for the concept of sustainability

[3 marks]

1. Explain how costs are assigned to activities and what activity based product costing is?