Environmentally adjusted economic performance indicators at the macro and micro level
Title Alternative:Environmentálně upravené indikátory ekonomické výkonnosti na makro- a mikroúrovni
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Technická Univerzita v Liberci,
Abstract
Konvenční systémy účetnictví jsou primárně orientované na měření ekonomické aktivity a výkonnosti ekonomických subjektů na různých úrovních. Lze tvrdit, ţe makroekonomický růst je agregovaným výsledkem klíčových mikroekonomických tendencí, jelikoţ to jsou individuální subjekty, které vytváří produkt a zrychlují ekonomickou aktivnost. Z tohoto pohledu jsou systémy podnikového finančního účetnictví a systémy národních účtů (SNA) navzájem těsně propojeny, přičemţ systém finančního účetnictví zachycuje jednotlivé prvky tvořící ucelenou soustavu, která je právě odráţená v rámci systému účetnictví národního. Konvenční indikátory ekonomické výkonnosti velmi formálně odráţejí ekonomickou aktivitu, a proto mohou být do určité míry zavádějící, jelikoţ neposkytují ucelenou představu o kvalitativních parametrech růstu. Jedním z problémů je vztah mezi ekonomickými aklahobyt. Třetí kapitola je zaměřená na environmentální kritiku konvenčních účetních systémů. Čtvrtá kapitola popisuje přístup k výpočtu environmentálně upravených indikátorů ekonomické výkonnosti. Pátá kapitola se věnuje problémům environmentálně zaměřeného monetárního oceňování. Závěrečná kapitola má prakticko-aplikační charakter a prezentuje výsledky zcela unikátních propočtů ukazatele čistého domácího produktu České republiky upraveného o výši vyčerpání přírodních zdrojů a také výsledky výpočtů provozního zisku upraveného o výši vyčerpání přírodních zdrojů na příkladu vybrané české firmy.
Conventional accounting systems are primarily focused at measuring economic performance and activity of economic entities at different levels. One can state that macro-economic growth is an aggregate outcome of the core trends at the micro-economic level, since it is individuals agents who actually generate product and extend overall economic activity. In this respect financial accounting and national accounting systems (SNA) are closely related to each other: with the first one covering single components forming complete unit, which in its turn is reflected by the second one. Being formal measures of economic activity, conventional economic performance indicators may be quite misleading, since they don?t give a comprehensive idea of quality parameters of growth. One of the issues is relation between the economic activity and environment. Similarly to conventional economic assets accounted for in traditional accounting systems, natural assets generate the flow of services to the human society and therefore in many respects act as economic capital. In this respect environmental depletion and degradation processes are very similar to fixed capital consumption, since they reduce future service generating capacity of natural assets. Throughout this obvious similarity, the accounting systems make explicit distinction between produced and non-produced assets. Depreciation of produced assets, which is accounted for as gross fixed capital consumption in the SNA and on the other hand as depreciation in the financial accounting systems, may be deducted from such economic performance indicators as Gross Domestic Product (GDP) or profit as a cost in order to calculate the net income measures. In case of non-produced assets no deduction is made. That means that conventional economic performance indicators include income generated by non-produced natural assets at the same time almost totally omitting the economic costs of their depletion and degradation. Such systems of environmental and economic accounting represent an attempt to overcome the above mentioned inconsistencies and provide framework for elaboration and measurement of environmentally adjusted economic performance indicators, which would account for costs of environmental depletion and changes in environmental quality (i.e. degradation) and therefore eliminate factors that inflate the income and profit. The first chapter shortly describes the history of national and financial accounting. In the second chapter parallels between the capital, income, and well-being are discussed in detail. The third part of thesis is completely devoted to environmental critics of the conventional accounting systems. The fourth part is explaining approach to environmentally adjusted economic performance indicators? calculation. In the fifth chapter the focus is made on issues of environmental monetary valuation. The final chapter has an explicit practical focus providing series of depletion adjusted Net Domestic Product for the Czech Republic as well as results of depletion adjusted operating profit estimation for the chosen Czech company.
Conventional accounting systems are primarily focused at measuring economic performance and activity of economic entities at different levels. One can state that macro-economic growth is an aggregate outcome of the core trends at the micro-economic level, since it is individuals agents who actually generate product and extend overall economic activity. In this respect financial accounting and national accounting systems (SNA) are closely related to each other: with the first one covering single components forming complete unit, which in its turn is reflected by the second one. Being formal measures of economic activity, conventional economic performance indicators may be quite misleading, since they don?t give a comprehensive idea of quality parameters of growth. One of the issues is relation between the economic activity and environment. Similarly to conventional economic assets accounted for in traditional accounting systems, natural assets generate the flow of services to the human society and therefore in many respects act as economic capital. In this respect environmental depletion and degradation processes are very similar to fixed capital consumption, since they reduce future service generating capacity of natural assets. Throughout this obvious similarity, the accounting systems make explicit distinction between produced and non-produced assets. Depreciation of produced assets, which is accounted for as gross fixed capital consumption in the SNA and on the other hand as depreciation in the financial accounting systems, may be deducted from such economic performance indicators as Gross Domestic Product (GDP) or profit as a cost in order to calculate the net income measures. In case of non-produced assets no deduction is made. That means that conventional economic performance indicators include income generated by non-produced natural assets at the same time almost totally omitting the economic costs of their depletion and degradation. Such systems of environmental and economic accounting represent an attempt to overcome the above mentioned inconsistencies and provide framework for elaboration and measurement of environmentally adjusted economic performance indicators, which would account for costs of environmental depletion and changes in environmental quality (i.e. degradation) and therefore eliminate factors that inflate the income and profit. The first chapter shortly describes the history of national and financial accounting. In the second chapter parallels between the capital, income, and well-being are discussed in detail. The third part of thesis is completely devoted to environmental critics of the conventional accounting systems. The fourth part is explaining approach to environmentally adjusted economic performance indicators? calculation. In the fifth chapter the focus is made on issues of environmental monetary valuation. The final chapter has an explicit practical focus providing series of depletion adjusted Net Domestic Product for the Czech Republic as well as results of depletion adjusted operating profit estimation for the chosen Czech company.