Define finance collaborative8/9/2023 ![]() ![]() The advantage of this cooperation is a reduction in waste flows and an additional source of income. Examples of such databases are Madaster and the Harvest Map (in Dutch). Good cooperation is necessary to realise the necessary infrastructure, for example in the form of a physical pipeline, but also virtual databases to map material flows. Industrial symbiosis is a partnership in which company A exchanges waste streams with company B that can use the stream in its own processes. Industrial symbiosis is one concept that represents the opportunities for cooperation between companies within the circular economy. In order to do this, the raw material flows must also be kept up to date within the companies. If the quantity or quality of these residual flows is not in order, Van Werven in turn cannot fulfil its delivery agreements. If Van Werven wants to be able to supply plastic to its customers, it depends on the companies that supply it with the plastic for recycling, for example a producer of plastic packaging with residual flows. Within a company, too, business units need to work better together to ensure that the origin and value of raw materials remain traceable.Ī good example is the waste processing company Van Werven, which specialises in the acceptance, processing and resale of plastic. If materials lose their value in one chain step, the entire chain suffers as a result, so that costs, benefits and risks are properly discussed. If the cycle of a chain with several companies is closed, this means that the companies are dependent on each other for their raw materials. ![]() Importance of collaborationĬollaboration between and within companies is even more important in a circular economy, because actors are more dependent on each other on the one hand and on the other hand can benefit more from streamlined collaboration. Support from top management and demonstrating a viable business case are important for collaboration within a company. Reciprocity, formal and informal trust and transparency are important success factors for cooperation between companies. This article briefly explains why this is so important, and what is needed for this. This requires cooperation between and within organizations. If these investors are not actively participating in the R&D efforts, the investment would not be in scope of ASC 808 and the investors should assess whether the arrangement is within the scope of ASC 730-20, Research and Development Arrangements, or ASC 470-10-25, Sales of Future Revenues.Circular economics calls for systems thinking: companies should no longer focus on personal financial gain but on optimising the entire system. Oftentimes various partners or investors, who may be financial/passive investors, assist in development funding and share the financial risks and rewards of the R&D efforts. ![]() The demand for new sources of capital has led many companies to explore innovative R&D funding arrangements. When those arrangements do not involve a separate legal entity, but are structured through contractual arrangements whereby the entities actively participate in the research and development of a product, the arrangement may qualify for accounting as a collaborative arrangement in accordance with ASC 808. Transfers and servicing of financial assetsĬompanies may enter into unique arrangements, such as R&D focused partnerships, strategic alliances, and collaborations to fund research and development activities. Revenue from contracts with customers (ASC 606) Loans and investments (post ASU 2016-13 and ASC 326) Investments in debt and equity securities (pre ASU 2016-13) Insurance contracts for insurance entities (pre ASU 2018-12) ![]() Insurance contracts for insurance entities (post ASU 2018-12) IFRS and US GAAP: Similarities and differences Business combinations and noncontrolling interestsĮquity method investments and joint ventures ![]()
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