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Environmental Accounting and Reporting: Theory, Law and Empirical Evidence

  • ID: 1269902
  • Book
  • September 2009
  • 334 Pages
  • New Century Publications
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The last two decades have witnessed an increasing global concern for the harmful long-term impact of industrial activities on the environment and subsequently on the financial performance of a company and the economic growth of a country. This has led to a growing demand from various stakeholders for measurement of a company`s environmental activities and impacts, and subsequent public disclosure of this information. As a result, a new area of accounting has emerged regarding environmental accounting.

Environmental accounting at a corporate level deals with identification, measurement, recognition and disclosure of environmental costs, liabilities and contingencies in the financial records of a company for the benefit of various internal and external stakeholders.

This book provides a broad introduction to the whole area of environmental accounting and reporting (EAR). It covers environmental accounting, environmental reporting, and environmental auditing together as these are interrelated and form a very important part of a company’s comprehensive environmental management system. An attempt has also been made to assess the need for a separate regulatory framework to address these issues more specifically.
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1. Environmental Accounting and Reporting: An Introduction
1.1 Various Concepts Relating to EAR
1.2 Recent Developments

2. Environmental Accounting and Reporting: Concepts and Theoretical Framework
2.1 Environment and Environmental Management System
2.1.1 Environment
2.1.2 Environmental Management System (EMS)
2.2 Environmental Accounting
2.2.1 Definition of Environmental Accounting
2.2.2 Benefits of Environmental Accounting
2.2.3 Environmental Accounting: Some Specific Issues
2.3 Environmental Reporting
2.3.1 Definition of Environmental Reporting
2.3.2 Costs and Benefits of Environmental Reporting
2.3.3 Conceptual Framework for Environmental Reporting
2.4 Environmental Audit
2.4.1 Definition of Environmental Audit
2.4.2 Objectives of Environmental Audit
2.4.3 Specific Issues Relating to Environmental Audit

3. Environmental Accounting and Reporting: Regulatory Framework
3.1 Recent Ear Laws in Some Countries
3.2 Need for EAR Standards in India
3.3 Summary

4. Existing Studies and Their Critical Evaluation
4.1 Studies on Environmental Accounting
4.2 Studies on Environmental Reporting
4.2.1 International Studies
4.2.2 Country Specific Studies
4.2.3 Indian Studies
4.3 Critical Evaluation of Existing Studies

5. Corporate Environmental Accounting and Reporting Expectation Gap: Evidence from India
5.1 Scope and Methodology
5.2 Concept of Environment
5.2.1 Environment - A Big Challenge to Business
5.2.2 Establishment of EMS
5.3 Environmental Accounting
5.3.1 Comprehensiveness of Financial Accounting Framework
5.3.2 Adoption of Environmental Accounting System
5.3.3 Environmental Costs
5.3.4 Identification of Environmental Costs
5.3.5 Treatment of Environmental Costs in Books of Accounts
5.3.6 Recognition of Environmental Benefits
5.3.7 Social/External Costs
5.3.8 Environmental Liabilities
5.4 Environmental Reporting
5.4.1 General Issues
5.4.2 Place and Type of Environmental Disclosures
5.4.3 Qualitative Characteristics of Environmental Information
5.4.4 Users of Environmental Information
5.5 Environmental Audit
5.5.1 Need for Audit of Environmental Information
5.5.2 Preparation and Audit of Environmental Statements by Sample Companies
5.5.3 Environmental Auditors
5.6 Summary and Conclusions

6. Environmental Disclosure Practices of Select Companies
6.1 Scope and Methodology
6.1.1 Construction of an Index of Environmental Disclosure
6.1.2 Analysis of Annual Reports
6.1.3 Multivariate Analysis
6.2 Analysis of Environmental Disclosures Practices
6.2.1 Extent of Disclosure
6.2.2 Type of Information Disclosed
6.2.3 Place of Environmental Disclosure
6.2.4 Length of Voluntary Environmental Disclosure
6.3 Environmental Disclosure Scores (EDS)
6.3.1 EDS Percentages (Using Equal Weights)
6.3.2 EDS Percentages (Using Unequal Weights)
6.4 Regression Analysis
6.4.1 Regression Analysis: An Introduction
6.4.2 Building the Model
6.5 Analysis of Regression Results
6.5.1 Estimation of Type I Regression Equations
6.5.2 Estimation of Type II regression equations
6.6 Summary

7. Summary, Conclusions and Policy Recommendations
7.1 Observations
7.2 Corporate EAR Expectation Gap in India
7.3 Environment and Environmental Accounting
7.4 Environmental Reporting
7.5 Environmental Audit
7.6 Analysis of Annual Reports
7.7 Multivariate Analysis
7.8 Recommendations
7.8.1 Environmental Accounting
7.8.2 Environmental Reporting
7.8.3 Environmental Audit
7.8.4 Future Directions
7.9 A Final Word


Appendix I: Mandatory Environmental Reporting Schemes in Selected European Countries
Appendix II: List of 17 Most Polluting Industries in India
Appendix III: Carbon Trading
Appendix IV: Some Sources for EAR Guidelines
Appendix V: Testing for Superfluous Variables and Multicollinearity

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Dr. Shuchi Pahuja is Associate Professor at PGDAV College, University of Delhi, Delhi. She obtained her doctoral degree from the Department of Commerce, Delhi School of Economics, University of Delhi in 2006. She has teaching experience of about one and a half decades.

Dr. Pahuja has presented papers in various national and international conferences including 29th Annual Congress of European Accounting Association (EAA), held in Dublin, Ireland from 22nd to 24th March, 2006. She is a member of Social Responsibility Research Network (SRRN) of UK.
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