Evaluating Environmental Accounting and Reporting: The Case of Croatian Listed Manufacturing Companies (original) (raw)
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Environmental protection is an important element of the contemporary economic development. It also brings a new dimension of enterprises' relation to environmental issues. The aim of corporate activities is not only to generate profit but also to satisfy the interests of shareholders. If enterprises want to succeed in such a hard competitive environment, their managements must not forget to consider their relation to the environment. The basic information tool the managers of enterprises may use to get relevant information about the interaction between their enterprise and the environment are accounting modules. The purpose of this paper is to review the preparedness of accounting systems of enterprises in the Czech Republic to catch corporate processes that may be problematic from the environmental point of view. The financial accounting module in the Czech Republic economic environment is firmly bundled with legislation. Pursuant to the applicable provisions of the Czech Act on Accounting and related legislation, environmental information does not need to be tracked. Some information on environment is included in financial statements, but this is usually the case of large corporation only. In connection with the requirements for sustainable development, it is necessary that each entity will closely follow its interaction with the environment. Therefore, the financial but also the managerial accounting modules should be updated to include environmental aspects too. Managers of enterprises will then be able to accurately quantify real costs and revenues associated with environmental issues. Such information could be then used as a basis for analysis of individual corporate activities having some impact on the environment as well as for planning of goals in this area. The management of enterprises should also introduce a system of indicators for the evaluation of environmental aspects within the scope of corporate processes. The paper also covers the case study of the Czech company engaged in the manufacture of aluminum alloy casts. The case study analyzes current options for tracking the selected environmental aspects in managerial and financial accounting systems. The case study further suggests some indicators to evaluate such activities.
BH EKONOMSKI FORUM , 2018
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ENVIRONMENTAL ACCOUNTING AND REPORTING: AN ESSENTIAL COMPONENT OF BUSINESS STRATEGY
ENVIRONMENTAL ACCOUNTING AND REPORTING: AN ESSENTIAL COMPONENT OF BUSINESS STRATEGY , 2012
ABSTRACT Environmental accounting is on an expansion path. With increasing social focus on the environment, accounting fills an expectation role, to measure environmental performance. Only stressing on the economic and industrial development unfortunately we, the Indian forget the importance of and the consequences of such forgetfulness gave birth to the remarkable incidence of the Bhopal chemical leak (1984), Tsunami in India (2004). Infect the industrial and business activity are directly or indirectly responsible for various environmental problems such as Global Warming, a rapid changes in climate, glacier meltdown, soil erosion, land degradation, deforestation, loss of biodiversity and pollution of all kinds such as water, air, marine, noise, light etc. A native American proverb states that, “only when the last tree is cut, only when the last river is polluted, only when the last fish is caught only when they will realized that you cannot eat money”. The issue of environmental responsibility and the sustainable industrial development has given to the birth of new branch of accounting, i.e. environmental accounting and reporting. Environmental accounting is relatively a recent entrant in the domain of accounting. It is the process of identification measurement and commutation of information in the environmental responsibility of the performance of an entity to permit economic decision. Environmental accounting first adopted by Norway in the 1970s and in India it is applied only the cements, oil and petroleum, power and electronics, steel, engineering and textile industries. For proper implementation of environmental accounting in India a large number of researches, discussion, accounting standard and regulatory frameworks is necessary. The status of environmental awareness provides a dynamic for business reporting its environmental performance. Examining the integration of environmental policy with business policy is the focus of this research. The business firm’s strategy includes responding to capital and operating AJRBF Asian Journal of Research in Banking and Finance Vol.2 Issue 4, April 2012, ISSN 2249 7323 Journal of Asian Research Consortium 86 http://www.aijsh.org costs of pollution control equipment. This is caused by increasing public concerns over environmental issues, and by a recent government-led trend to incentive-based regulation. This paper describes the environmental component of the business strategy, producing the required performance reports and recognizing the multiple skills required to measure, compile and analyze the requisite data. Special emphasis of the research is on generation of reports and their standards, for the range of business and regulatory purposes. KEYWORDS: Environmental Accounting, Business Strategy, Environmental Reporting, Environmental policy.
The study aimed at increasing interest in environmental accounting, laying the foundations applied for accounting environment, the problem of the study in the lack of accuracy of the estimates and the accounting measurement of the items of the environment, the inadequacy of some of the Principles of Accounting for accounting environment, hypotheses: the adaptation of the principles and my principles and assumptions accounting for the accounting environment helps in preserving the environment, the development of an international accounting standard for accounting of the environment increases the effectiveness of Performance and the concept of global environmental accounting, we used deductive approach and descriptive analytical results: application actual accounting environment in study environment, financial items allocated to an environment that is unfair with the pollution of the environment, the recommendations: requiring all polluters natural and legal payment for the benefit of the environment, the application of the accounting standard environmental, re-estimate of the amounts allocated to the environment in the Middle East.
2013
One of the symptoms of the implementation of corporate social responsibility concept is taking into account environmental and social issues in business. It arises also, to some extent, from the environmental law regulations and the national and international strategies focus on the proecological development. The environmental (green) accounting was created as a result of the demand for information on the interactions between the enterprise and the environment. Purpose: The aim of this paper is to: 1) the identification of requirements, which are subject companies, both in the light of environmental law as well as customary (in the so-called good practice) in relation to the impact of their activities on the environment, and 2) determine the impact of these requirements on the development of accounting system. In addition, the thesis of improper reporting obligations for environmental reporting by Polish entities will be subject to verification. Methods: Objective methods used in the...
Accounting Organizations and Society, 1976
Growing social costs and increasing criticism of prevailing accounting practices both on the macroeconomic and microeconomic level have recently led to efforts to expand the scope of accounting for better evaluation of an organization's behavior. CEAS provides corporate management as well as governmental authorities with a comprehensive assessment system of the annual environmental effects of a corporation's regular business activities. As a tool to control an economy's impact on the physical environment, it helps to achieve a better quality of life. *The author would like to acknowledge the helpful comments of R. MtiJler-Wenk and of MS B. E. Phiebig Ullman. An earlier draft of this paper was presented at the annual conference of the European Foundation for Management Development in Manchester, England in June 1975.