An Assessment of the Effectiveness on Environmental Management Accounting (EMA) at Sierra Mineral Holdings Limited in Sierra Leone (original) (raw)
Related papers
OALib
This research focused on the Study of Causes and Effects of Cost Categorisation on Environmental Management Accounting (EMA) at Sierra Mineral Holdings Limited in Sierra Leone. Specifically, this study serves as a continuation of the previous article on environmental management accounting. It focused on the present environmental cost paid to produce environmental reports, developing a compliance strategy, and also taking a critical look at the use of knowledge management systems in environmental management accounting. The study made use of probabilistic sampling and uses a research design that caters to both primary and secondary data. The researcher made use of descriptive design surveys, and in addition, conducted interviews to obtain the required data for the research. This piece of work used business models like Ishikawa Model also known as the Fishbone diagram to analyze and interpret data. The findings of this study revealed that there is high compliance from Sierra Mineral Holdings Limited with payment on costs to produce environmental reports. The study developed an imaginary cause, and effects and came up with possible solutions to build a compliance strategy for Sierra Mineral Holdings Limited as they do not have an internal audit department. This study also discusses how a Knowledge management system will improve performance in an organization.
Making Environmental Accounting Work: Case of the Zimbabwe Mining Industry
Universal Journal of Accounting and Finance, 2021
The research sought to find out how environmental accounting can work in Zimbabwean Mining Companies. Descriptive research design was used and mixture of qualitative and quantitative data was collected using questionnaires and interviews. Stratified purposeful sampling of 52 respondents was made up of 16 Mining Companies' executives which are dominant companies in mining gold, nickel, asbestos, coal, copper and chromite, 20 government organisations representatives and 16 mining communities’ heads (8 Chiefs and 8 Headmen) were done. Community heads were interviewed and questionnaires were sent to Mining Companies' executives and government organisations representatives who were also interviewed two months after. The research reveals that government is not doing enough in fostering the implementation of environmental accounting in Zimbabwe. There is no commitment of enough resources by the government towards adoption of environmental accounting. The mining sector has been politicized, making it difficult to enforce environmental laws in this sector whilst on the other hand there are no effective laws and policies that regulate environmental accounting issues. The core existences of economic instability and political upheavals in the nation have forced firms to concentrate on their continued economic existence, doing almost nothing on environmental accounting. It was also noted that there is no proper monitoring and controlling of mining activities by law enforcers, leaving the natural environment subjected to unsustainable mining activities. There are no environmental accounting guidelines. The research recommended that government organisations monitor and control mining activities independent of politics and commit both human and financial resources towards researching on how best environmental accounting can be implemented.
An exploration of the implementation and usefulness of environmental management accounting
2019
To improve corporate sustainability practices, Environmental Management Accounting (EMA) has been increasingly adopted by corporations throughout the world. EMA is a decision support tool which facilitates the environmental management strategies of an organisation. Examples of EMA tools and techniques include; sustainable balanced scorecards, energy accounting and carbon management accounting. This paper reports on the findings of an exploratory study on the usefulness and implementation of EMA practices in Australia and Sri Lanka. By investigating the similarities and differences between actual EMA practices and their implementation in both a developed and developing country, this study finds insightful outcomes relating to EMA implementation and its drivers and barriers within companies in both countries.
The study involved a benchmark analysis and examination of the state of sustainability accounting and reporting of four gold mining companies in Ghana from 2009 to 2015 comparing and contrasting the sustainability accounting processes and the sustainability indicators being adopted by the these companies as far as sustainability reporting initiatives are concerned. Further, the purpose examines the accounting convention, traditional or otherwise, used to recognize, measure and disclose transactions relating to the environment of four large-scale gold mining companies in Ghana. The study draws extensively on publicly available official documents and interview data. Based on the responses from the interview respondents and information from the publicly available official documents, it develops a case report based on the key questions and other themes that emerge from the literature and the empirical material. The study reveals that environmental accounting and reporting are now critical strategies that environmentally sensitive industries like gold mining companies are seriously tackling. The findings show that although the conventional accounting system was used in the recognition and measurement of environmental transactions, the nature of environmental accounts, presentation and disclosure varies across the companies. Some reports were stand-alone while others were integrated in the main annual reports. The main significance of the study is that the findings, thus, reinforce the proposition that the need for decoupling environmental accounting and reporting within the broader sustainability reporting
2015
The purpose of this study is to explore environmental impacts and responses in Uganda, an African country where a sustainability accounting approach is of growing significance and relevance. This is still a relatively new field of practice as well as a new academic endeavor, and thus entails originality. Oil and petroleum and energy-sector activities are generally key ingredients in the fast-growing economy, and are in the categories of being high risk with immensely negative social and environmental impacts. Petroleum companies dominate the top taxpayers in the country, which justifies a focus on the oil industry sector. This study is conceived as an improvement on one of the objectives of a wider study by the first author that investigated the relations among legitimacy, marketing and environmental accounting practices, focusing on oil companies in Uganda. Data collection methods included analysis of the way in which environmental accounting is developed and assessment of the cred...
International Journal of Economics and Financial Issues, 2017
The present study examines and modeling the factors influencing the use of environmental management accounting tools from the financial managers and assistants point of view, who are in the oil refining and petrochemical companies. For this purpose, five main hypotheses have been developed and tested by using questionnaire. The result of this test by using, confirmatory factor analysis and structural equation test showed that from financial managers and assistants’ point of view, resistance to change, lack of standards and methods for gathering and allocation of environmental costs and lack of standards, competitive environment and society culture in dealing with environmental issues are the factors that influence the use of environmental management accounting tools. The result of the fifth hypothesis test showed that except sex, all of the personal characteristic of managers and assistants like professional work experience, field of study, academic paper and age have meaningful inf...
Abstract In the last decade, environmental accounting and reporting have received increasing attention from investors, regulators and other stakeholders. Some developed countries require mandatory reporting on environmental matters; but no accounting body has yet formally issued any comprehensive guidelines or standards on the issue. In this paper therefore, we have tried to define environmental accounting with its scope and also using simple percentages and chart as a means of data presentation. This paper made a comparative analysis of the perceptions of prepares and users of accounting information towards the disclosure of environmental information in annual reports of organisations in Nigeria. The paper observed that based on the 89.5% response rate 63.5% of preparers accountants and managers of accounting information representing a total of 165 out of the 260 questionnaires retrieved were affirmative that environmental information should be disclosed in organisation’s financial statements while 36.5% were of the opinion that the present conventional accounting) system is sufficiently okay and therefore rejects the idea on the need for the disclosure of environmental information. The paper concludes that a positive relationship exist from the responses given by preparers and all the identified users of the accounting information. Keywords: Stakeholders, Environmental Accounting, Nigeria, Regulators, Preparers, Environmental information,
INOSR ARTS AND HUMANITIES 6 (1), 2020
Sustainability reporting has gained global attention in recent times. This is in view of the fact that activities of companies impact positively or negatively on the environment on one hand, while the effect of the environment on the companies could either be to their advantage or disadvantage. This study attempts to explore literature on the concept, development, concerns and importance of environmental accounting. It went further to review the perception and the challenges of implementing environmental accounting in Nigeria. The data for the study were obtained through questionnaires which were administered on randomly selected accountants. The analysis of the data was done through simple percentages. It was found thatmajority of preparers of financial statement do not have sufficient awareness of environmental accounting. It was also discovered thatenvironmental accounting reports are reflected scantily in the annual reports of companies. Moreover,most companies disclose information on environmental accounting in a manner suitable to them. The study recommends amongst others that appropriate legislation be instituted to guide in the presentation of environmental information in the annual reports of companies.
Applicability of Environmental accounting in Cement Manufacturing companies in Nigeria
This paper is about environmental accounting. It aimed at discussing on the most important tools for the application of environmental accounting which include legislation, incentives and accounting staff as well as acknowledging general framework and concepts of environmental accounting. Secondary data for the study were obtained through reference, research, and Nigerian and foreign universities research papers. For the initial data, they were collected through a questionnaire study. Chi-square was used in the analysis of the responses to the questionnaires. The study found out that the availability of these elements will contribute to the application of environmental accounting. The study recommended educating accountants and financial managers and corporate departments of the concepts of environmental accounting, and its general framework, also urged to endorse binding legislation and accounting standards guidance for their application. In addition to establishing a system of incentives, various tax and governmental exemptions, so that to encourage companies to implement environmental accounting. Keywords: Environmental accounting, Legislations, Incentives
Environmental Management Accounting: Identifying Future Potentials
2016
This study evaluates the use of environmental management accounting (EMA) in maintaining business processes among industrial companies. EMA is a management tool related to environment accountability. It is utilised to improve the financial and environmental performances of companies to achieve sustainability. This study reviews management accounting literature that has examined industrial environmental pollution. Results show that companies that conduct environmental activities identify the problem associated with the environment as environmental cost. This cost is reported in the environmental cost report, which provides a clear, detailed picture of all environment costs. The environmental cost report assists managers in their decision-making process. Generally, companies do not adhere to environmental accountability. In addition, the environmental cost report of companies cannot separated from their financial statements. Keywords: environmental management accounting, environmental...