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There is growing awareness and concern of the impact of human activity on the ecosystem. Environment concerns play a significant role in the long-term survival and development of business systems. Business entities are being expected to fully integrate with environmental considerations in their life. Environmental Accounting at organization level aims to address the needs of organizations to measure the economic efficiency of environmental conservation. Environmental accounting consists of environmental resource accounting, which attempts as a best possible to consistently and comprehensively record information on environmental pollution and natural resources using an accounting framework. Environmental accounting also encompasses eco balance, in which table of input and output data for environmental impact is created to measure and report the amount. Environmental accounting at the corporate level helps the management to know whether corporate has been discharging its responsibilities towards sustainable development while meeting business objectives. The corporate business organizations have to shoulder the responsibilities; they must disclose the impact of their activities on environment and must quantify the environmental impact and recognition of environmental expenses and losses. This paper is intended to focus on the objectives such as to identify the basic need, scope of environmental Accounting and other issues related to the Environmental Accounting and reporting, to analyze impact of environmental costs on sustainable development, to describe advantages of environmental accounting, to describing new concept of green Accounting. The study is a conceptual and based on the secondary data collected from various magazines, books, journals etc. |
