The role and techniques of green accounting in sustainable business practice
2024
Oborska, Anna
By highlighting the importance of green accounting techniques in encouraging sustainable business practices, this research delves into their evolution, definitions, and implementation — starting with a review of green accounting’s origins and development, the paper explores several academic meanings of the term before focusing on how it has helped bring social and environmental costs and benefits into traditional financial accounting. Additionally, it differentiates between environmental accounting and green accounting — highlighting the differences in their respective spheres of influence; financial accounting, management accounting, and external reporting are all part of green accounting, which is a systematic approach to accounting that aims to improve both financial and environmental consequences. Green accounting procedures have a favourable effect on financial performance and environmental transparency, as the paper shows empirically and then it goes on to analyse green accounting implementation in sustainable company operations. To aid in decision-making and encourage environmental sustainability — it also presents a conceptual model for green accounting that incorporates multiple indices. Lastly, the research highlights the significance of being sensitive while implementing green accounting methods and suggests more research to create practical tools that take stakeholder viewpoints and environmental hazards into account. In sum, the research shows that green accounting is essential for businesses to be more eco-conscious and for sustainable development initiatives to progress.
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Издатель Latvia University of Life Sciences and Technologies