Environment Driven Accounting Changes; What Are You Doing to Fight the Hype?
CFO is doing a webcast covering how environmental requirements are changing companies. Their approach is to scare you into watching. The scare tactics are what have overblown global warming and the need for carbon emissions trading in the first place:
“Recent accounting changes mean that even future environmental liabilities can wreak havoc on your company’s financial statements now.”
“Wreak havoc”?- a bit overstated. Yes there will be requirements- they cite FAS 141R and Fin 47 as requiring recording of contingent liabilities today.
I still don’t believe that companies will be forced into trading carbon emissions as many predict. There is an element of “scam” in this that we have to identify and expose. There is no doubt that the train has left the station on this stuff and we will all pay the price; a price way beyond the effects of global warming.
What do you think? Are you simply falling in line on the global warming/carbon trading issue? Or are you demanding evidence and a rationale for changes that you are being asked to make in the name of the environment?
Let me know!
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