scholarly journals Increasing Energy and Material Consumption Efficiency by Application of Material and Energy Flow Cost Accounting System (Case Study: Turbine Blade Production)

2021 ◽  
Vol 13 (9) ◽  
pp. 4832
Author(s):  
Asghar Hakimi ◽  
Zahra Abedi ◽  
Fatemeh Dadashian
Keyword(s):  
Value Chain ◽  
Energy Flow ◽  
Turbine Blades ◽  
Planning Horizon ◽  
Cost Accounting ◽  
Accounting System ◽  
Engineering Economics ◽  
Cost Accounting System

It is often difficult to extract data on material and energy wastes and related costs in the value chain of manufacturing products. Many organizations are not fully aware of the actual costs of material and energy wastes. For this purpose, advanced costing methods should be used. For this case study, we used material and energy flow cost accounting (MEFCA) to determine material costs, losses, and waste management in the manufacturing of turbine blades at the Iran Power Plant Company. Using the extracted data, the manufacturing costs of turbine blades were studied. The conventional method of turbine blades production is the machining method, which produces a significant amount of material and energy waste. By studying different methods, we found that there is an alternative method called forging, which reduces losses and costs. Finally, the costs of the two methods were compared. Engineering economics techniques were also used to compare the two methods on a long-term planning horizon.

scholarly journals Increasing Energy and Material Consumption Efficiency by Application of Material and Energy Flow Cost Accounting System (Case Study: Turbine Blade Production)

2021 ◽  
Author(s):  
Asghar Hakimi ◽  
Zahra Abedi ◽  
Fatemeh Dadashian
Keyword(s):  
Turbine Blade ◽  
Value Chain ◽  
Energy Flow ◽  
Turbine Blades ◽  
Planning Horizon ◽  
Cost Accounting ◽  
Accounting System ◽  
Construction Costs ◽  
Cost Accounting System

It is often difficult to extract data on material and energy wates and related costs in the value chain of conventional production units. Many organizations are not fully aware of the actual cost of material and energy waste. For this purpose, advanced costing methods should be used. This study uses material and energy flow cost accounting to determine material costs, losses, and waste management. The case study of this research is the construction of turbine blades in Iran Power Plant Company. In this study, using the extracted data, the construction costs of turbine blades have been studied. The conventional method of making a turbine blade is the machining method, which we will see has a huge amount of wastes of materials and energy. By studying different methods, we will find that there is an alternative method called forging, which reduces losses and costs. Finally, the costs of the two methods are compared. Engineering economics techniques have also been used to compare two methods on a long-term planning horizon.

scholarly journals Increasing Energy and Material Consumption Efficiency by Application of Material and Energy Flow Cost Accounting System (Case Study: Turbine Blade Production)

2020 ◽  
Author(s):  
Asghar Hakimi ◽  
Zahra Abedi ◽  
Fatemeh Dadashian
Keyword(s):  
Turbine Blade ◽  
Value Chain ◽  
Energy Flow ◽  
Turbine Blades ◽  
Planning Horizon ◽  
Cost Accounting ◽  
Accounting System ◽  
Construction Costs ◽  
Cost Accounting System

It is often difficult to extract data on material and energy wates and related costs in the value chain of conventional production units. Many organizations are not fully aware of the actual cost of material and energy waste. For this purpose, advanced costing methods should be used. This study uses material and energy flow cost accounting to determine material costs, losses, and waste management. The case study of this research is the construction of turbine blades in Iran Power Plant Company. In this study, using the extracted data, the construction costs of turbine blades have been studied. The conventional method of making a turbine blade is the machining method, which we will see has a huge amount of wastes of materials and energy. By studying different methods, we will find that there is an alternative method called forging, which reduces losses and costs. Finally, the costs of the two methods are compared. Engineering economics techniques have also been used to compare two methods on a long-term planning horizon.

Models for the balance sheet, the trading account and the profit and loss account; 8. A section on cost accounting, including a description of the system adopted, terminology, rules for computing product costs, an explanation of the perpetual inventory method and the procedure for the classification of expenses into fixed and variable categories; 9. Statistical accounts necessary to analyze the company's situation and establish a national accounting system (see point 4 in the previous section). General Features of the 1947 Plan The plan offered a simple, logical and flexible structure, while introducing the most advanced cost accounting techniques of the time (the homogeneous sections method described earlier). Termi­ nology and presentation were largely borrowed from the account­ ing tradition. The chart of accounts (see Appendix) classes were chosen in accordance with the two traditional objectives of finan­ cial accounting: the determination of the firm’s situation and the analysis of the year's results. The plan used the decimal system to number accounts and classes of accounts. The main classes of the plan were as follows: Balance 1. Permanent capital (capital, reserves, liabili-sheet ties); accounts 2. Fixed assets and investments; 3. Stocks; 4. Third-party accounts (receivables and payables); 5. Financial accounts (short-teim loans and borrowing, short-term investments, cash); Operating 6. Expenses, classified by type; accounts 7. Revenues, classified by type; 8. Profit and Loss accounts; 9. Cost accounting accounts; 10. Statistical accounts. This structure made it easy to prepare the balance sheet which was established from the accounts of the first five classes. Unlike the 1942 Plan, the order of appearance of the accounts on the balance sheet was the same as in the chart of accounts. Ac­ counts were first classified according to the duration of use or realizability for assets (short or long-term) and according to the

2014 ◽  
pp. 346-346
Keyword(s):  
Balance Sheet ◽  
Cost Accounting ◽  
Third Party ◽  
Accounting System ◽  
Fixed Assets ◽  
Perpetual Inventory Method ◽  
Product Costs

scholarly journals Accounting for Carbon Footprint Flows in Wine Production Process. Case Study in Spanish Winery

2020 ◽  
Vol 10 (23) ◽  
pp. 8381
Author(s):  
Miguel Marco-Fondevila ◽  
José M. Moneva ◽  
Fernando Llena-Macarulla
Keyword(s):  
Supply Chain ◽  
Environmental Impact ◽  
Production Process ◽  
Carbon Footprint ◽  
Value Chain ◽  
Corporate Image ◽  
Accounting System ◽  
Low Carbon ◽  
Wine Production

Companies are gradually becoming conscious about the necessity of reducing their environmental impact and adopting low-carbon strategies in order to cope with increasing institutional and social demands. However, remaining competitive while reducing the environmental impact and improving the corporate image requires adopting sophisticated mechanisms boosting eco-efficiency and keeping costs tight. Material Flows Cost Accounting (MFCA) is an instrument that allows the monitoring of, measurement of, and accounting for physical and monetary processes along the production process. If extended to the supply chain, and applied to the energy usage and CO2 emissions, it allows one to account for the Carbon Footprint (CF) of a company and its products at any given stage of the value chain. The current paper presents a case study developed under the framework of a three-year project to introduce an energy use and carbon emissions monitoring and accounting system in a large winery company in Spain, based on the MFCA approach and CF accountability. Including the supply chain of the company and the whole farming cycle of its main input, the case study presents the method and phases adopted to implement the project, its direct and indirect results and outcomes, and the conclusions that can be extracted, which may be inspirational for practitioners and scholars envisaging similar projects.

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