Environmental Accounting and Reporting- An Analysis

Abstract

In India during the last decades, environmental management has received increasing attention o f the investors, creditors, employees, government, and other stakeholders in the corporate sector. In recent years environmental accounting has become a strong branch o accounting. Still, attention towards the style and recognition o f environmental accounting is not a generalized one. Legal au thorites, standard setting bodies and other regulators have not come to a consensus regarding the conceptual framework o f environmental accounting and its disclosure. Thus, such disclosure is not mandatory but rather voluntary and has m specific style or format. With the passage o f time, more guidelines are coming in customized format that may lead us to reach a common format for recognizing environment related data and disclosure thereof through financial statements. The present study has focused on the conceptual application o f environmental accounting in Indian situation and legal framework o f environment accounting in India.