1a.Smith, M (2015) Doubling Energy & Resource Productivity by 2030 - Transitioning to a Low Carbon Future through Sustainable Energy and Resource Management (Game Changing Report)
With the commencement of the Carbon Pricing Mechanism (CPM) on 1 July 2012, there is now a price on carbon emissions in Australia. In this publication, Ernst & Young discuss some of the key accounting issues arising from the CPM, in particular the accounting for freely allocated and purchased carbon units (CUs). For liable entities (i.e. entities which need to surrender CUs) and for entities that receive freely allocated CUs, determining the most suitable accounting policy to account for the impact of the CPM is important.
This material can be used to enhance lecture slides and tutorial exercises in Undergraduate and Postgraduate Accounting classes.