The APMAA ‘s 11th Annual Conference 2015 was held on October 26-29, 2015 at the Udayana and Warmadewa University, in Bali, Indonesia. The theme of the APMAA 2015 was “Management Accounting For Sustainable Development”.
Prof. Janek Ratnatunga, the CEO of Institute of Certified Management Accountants, Australia, was a Keynote Speaker and gave a talk on “Costing Life: Air, Water and Food”.
He said that although air, water and food, are the fundamental requirements for life to exist on this Earth; excessive greenhouse gases concentration in the atmosphere is not only causing climate change, but also air pollution. Water costs are also related to the issues of climate change. It is clear that many industries depend on water in the supply chain for their workforce and production and to maintain a healthy operating environment. Professor Ratnatunga asked if the water price should be reflective of its value or is water a basic human right? Finally, he addressed the issue of ‘food’, i.e. how big business has taken ownership of the genetically modified (GM) ‘seeds’ required to grow the food. He warned that by using patents, GM companies have taken away a farmer’s right to save seeds for the next season. He argued that management accountants need to undertake the calculations that favour humanity, rather than profits.
