Responsibility Reporting (Environmental Accounting and Reporting)-Methods, Techniques and Tips to Prepare-A Case Study

Abstract

The most important issue which bothers the researchers, academicians, experienced and new to accounting and audit profession related to environmental accounting is how to measure and record environmental related transactions in the books of accounts, what to be reported and how to report. It is felt by many academicians and professionals that there is no standard to measure and record environmental related transactions. The profession institutes have tried to educate one's professionals over a period of time, but it has not adequately reached neither professionals nor academicians in India especially South East Asia. Different countries come with legal/voluntary implementation of environmental related reporting but to handle such environmental issues there is a perception that there is a dearth of knowledge on this subject. Therefore, it is necessary to bring out valuable inputs in this regard to educate and valuable resources in order to understand the environmental recording and reporting so that the educational institutions, professional bodies can get adequate personnel to implement at the speed of environmental degradation. This research is conceptual in nature and based on secondary data. The limitations of the study is that all resources are not adequately given here in this paper to educate environmental issues related accounting and reporting. The users of this research article-Academician, professional, training organisations can make use of this resources to bring change to implement environmental accounting and reporting/or the welfare of the society and make adequate change in the financial books of account to incorporate as a part of liability in the Balance sheet statement.