Applicability of Environmental accounting in Cement Manufacturing companies in Nigeria (original) (raw)
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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.
ENVIRONMENTAL ACCOUNTING PRACTICES AND REGISTERED COMPANIES IN YOBE STATE, NIGERIA
Usmanu Danfodiyo university Sokoto , 2020
The effect of waste products from organisations and entities affect the quality of air, water, and land in a very negative way. Thus, environmental accounting practices can play a role to minimises or completely eliminate these wastes. This paper therefore, examines the practice of environmental accounting as a tool for environmental management in Yobe State of Nigeria. The use of primary and secondary sources of data was employed for the study, while the simple random and purposive sampling methods were used for the data collection, Chi-square was applied for testing the formulated hypotheses. At the end of the analysis, the study revealed that; companies in Yobe state do not practise environmental accounting and the practice of environmental accounting has effects on environmental management. The paper concludes with the recommendation that government should put pressure on companies to practice environmental accounting and should organise awareness campaign on the concept of environmental issues to companies and public. Companies should also send their staff for training on environmental accounting concept.
Environmental accounting and reporting practices as an emerging trending issue is dynamically fruitful to the fulfilment of the yearnings and aspirations of the key stakeholders in the corporate set up. It introduces transparency and accountability particularly in the area of resources management more so with natural resources. It involves the identification, measuring and controlling of costs, liabilities and consequentially assets that may be affected in the course of ordinary business and it encompasses sustainability reporting as well. A combination of primary and secondary data revealed that environmental accounting is still at infancy and the need for an implementation roadmap backed by the necessary statutes will be desired to ensure that all the accruable benefits of environmental accounting and reporting are enjoyed.
Asian Journal of Economics, Business and Accounting, 2019
This research paper investigated the effect of environmental accounting on the economic development of Nigeria. The data were carefully collected from secondary sources and they were primarily used for content analysis. These were applied to the annual reports of five manufacturing companies to ascertain the level of compliance and costs associated with accounting for their environmental activities. The multiple regression analysis was used to analyze the collected data. The findings indicate that Environmental Protection Costs, Environmental Management Costs and Environmental Research and Development Costs all have a considerable effect on the gross domestic product of Nigeria. No effects, however, were exhibited by these variables which were statistically significant. These imply that environmental accountings as enumerated above do not significantly affect economic development in Nigeria. Thus, environmental accounting as practiced by companies in Nigeria does not play an importa...
2014
The study is an investigation into the development of environmental accounting and disclosure practices of manufacturing companies in Nigeria with emphasis on United Cement Company of Nigeria (UNICEM) Plc, Niger Mills Nigeria Plc and PAMOL Nigeria Ltd. The data for the study were collected through questionnaires administered and the annual reports obtained directly from the companies under study. The study employed independent t-test and Analysis of Variance (ANOVA) in the test of hypotheses. The findings of the study were that manufacturing companies do not charge environmental expenditures independently of other expenditures and the level of environmental cost awareness in manufacturing companies in Nigeria are not high. Based on the findings, it was recommended among other things that environmental expenditures should be charged separately of other expenditures, this will give room for more accountability on the companies' impact on the environment. More so, the level of awar...
JOURNAL OF ECONOMICS,MANAGEMENT AND SOCIAL SCIENCES,FEDERAL UNIVERSITY WUKARI, 2020
This paper examined the level of environmental accounting practice in Nigeria. The aim of it was to provide information on how environmental accounting could be used to enhance sustainable development in Nigeria. The exploration of natural resources in Nigeria has increased over the years and this has negatively affected the living standard of Nigerians greatly. This can be seen as the weather conditions are changing and the seasons in the country are gradually becoming abnormal. Experts have explained that it is as a result of the depletion of the ozone layer. This paper takes a look at the need for organizations to account for the effects of their organizational activities on the environment. Also, adequate recommendations were made to ensure a sustainable development in Nigeria through environmental accounting.
THE IMPACT OF ENVIRONMENTAL ACCOUNTING ON COMPANY'S SUSTAINANBILITY IN NIGERIA
THE IMPACT OF ENVIRONMENTAL ACCOUNTING ON COMPANY'S SUSTAINANBILITY IN NIGERIA, 2020
Most oil and gas quoted companies in Nigeria has often given insufficient attention to the communities where they operate, this is usually because of the need to regularly increase their profit maximization strategy. This study focuses on the impact of Environmental accounting on company's sustainability of selected companies in Nigeria. It is based on primary and secondary data. The primary data were obtained from questionnaire distributed to the selected oil and gas companies while the secondary data were obtained from the annual report of the companies considered. The syudy used variables such as environmental accounting and financial performance which were represented by questions relating to environmental cost in the questionnaire and profit after tax from annual report of the selected quoted companies. These variables were analyzed using linear regression analysis and the result of the analyses shows that there is significant relationship between environmental disclosure and return on equity of the selected quoted oil and gas companies. Therefore, as a result of this finding, the study concluded that oil and gas producing companies should give preference to their environment so as to improve their future performance and profitability of their operations.
European Journal of Business and Management, 2020
Engaging in environmental and social activities and disclosing same in the annual financial or sustainability report by business entities has been controversial for over three decades among stakeholders across different industries. Therefore, the objective in the research was to test the empirical nexus of social investment cost (SIC) and environmental protection cost (EPC) in relation to financial performance of quoted cement companies in Nigeria. Financial performance was further denominated into sales turnover (ST) and market value of firms (MVF) to respectively develop two hypotheses in their alternative forms. While the researchers adopted ex poste facto research design, secondary data were obtained from relevant annual financial reports and database of the Nigerian stock exchange for 2009-2017. Descriptive statistics were utilized for data presentation before estimating the test result by adopting multivariate regression model. However, the test result for H1 indicated significant P-value and F-value at 5% level of significance. In addition to accepting H1, positive Coefficients by SIC, EPC, and control variable (total assets-TA) demonstrated a strong adjusted R-square of 65.2483% association with ST, although, the coefficient for intercept was negative. Similarly, the test result for H2 also indicated significant P-value and Fvalue at 5% level of significance. In addition to accepting H2, positive coefficients of intercept, EPC, and the control variable, market capitalization (MCAP) of cement companies in Nigeria cumulatively contributed a weak adjusted R-square of 25.213% to MVF. However, the coefficient for SIC was negative. Besides observing low level and inconsistent environmental and social accounting practices (ESAP) among cement companies in Nigeria, the researchers concluded that such insignificant level of ESAP by such companies influenced their financial performance. Hence, the researchers recommended cement companies to adopt ethical approach towards expanding investment in ESAP.
Environmental Accounting and Financial Performance of Oil and Gas Companies in Nigeria
2019
Environmental accounting serves as a systematic approach in managing the environmental aspects of company activities. The shift in business economics towards environmental issues has led to the realization of the increasing importance of research in environmental accounting. This study employs the use of questionnaires in order to receive direct (primary) information from companies that produces environmentally friendly products. The findings in this study suggests among other things, that lack of environmental reporting and disclosure standards significantly affects the reporting and disclosure uniformity of environmental related information in financial statements, annual reports and accounts. Thus, environmentally friendly organizations who voluntary disclose their environmental activities enjoy high level of competiveness. Still, such disclosure is guided by the social responsibility and commitment on the part of entities that work as strong agents for polluting the environment. Conclusively, issues related to financial performance, managerial accounting, external and internal auditing, tax and financial accounting need to be studied further in order to deal with other environmental issues effectively. This study thereby gave some recommendations among others is the recommendation that government should make environmental reporting in annual reports compulsory since most organizations hardly report their environmental activities in their reports.
The Impact Of Environmental Accounting On Corporate Performance In Nigeria
European Journal of Business and Management, 2013
Companies' approach to the environment is regarded as one of the major factors influencing corporate performance in Nigeria. The objective of this study is to investigate if there is any significant relationship between environmental accounting and corporate performance in Nigeria. The data for the study were collected from annual report and accounts of fourteen randomly selected quoted companies in Nigeria. The data were analysed using multiple regression analysis. The findings of the result show that there is significant negative relationship between environmental accounting and Return on Capital Employed (ROCE) and Earnings Per Share (EPS) and a significant positive relationship between Environmental Accounting and Net Profit Margin and Dividend Per Share. Based on this it was recommended that government should give tax credit to organizations that comply with its environmental laws and that environmental reporting should be made compulsory in Nigeria so as to improve the performance of organizations and the nation as a whole.