Vol. 10 No. 2 (2024)
Articles

GREEN ACCOUNTING PRACTICES: A COMPARATIVE ANALYSIS OF ENVIRONMENTAL ACCOUNTING AND NATURAL RESOURCE ACCOUNTING IN BUSINESS OPERATIONS

Dr. Joseph Chukwudi Eze
Department of Accountancy, School of Financial Studies, Institute of Management and Technology, Enugu. josephchukwudieze@yahoo.com
Festus Ndubuisi Nkwo
Department of Accountancy, Gregory University Uturu, Abia State, Nigeria. festus.nkwo@gmail.com

Published 2024-02-08

Keywords

  • Green Accounting,
  • Environmental,
  • Natural,
  • Sustainability,
  • Resource Accounting

How to Cite

Joseph Chukwudi Eze, & Festus Ndubuisi Nkwo. (2024). GREEN ACCOUNTING PRACTICES: A COMPARATIVE ANALYSIS OF ENVIRONMENTAL ACCOUNTING AND NATURAL RESOURCE ACCOUNTING IN BUSINESS OPERATIONS. International Journal of Advanced Academic Research, 10(2), 43-57. https://www.openjournals.ijaar.org/index.php/ijaar/article/view/426

How to Cite

Joseph Chukwudi Eze, & Festus Ndubuisi Nkwo. (2024). GREEN ACCOUNTING PRACTICES: A COMPARATIVE ANALYSIS OF ENVIRONMENTAL ACCOUNTING AND NATURAL RESOURCE ACCOUNTING IN BUSINESS OPERATIONS. International Journal of Advanced Academic Research, 10(2), 43-57. https://www.openjournals.ijaar.org/index.php/ijaar/article/view/426

Abstract

This study undertakes a comprehensive exploration of Green Accounting Practices, focusing on a comparative analysis of two key components: Environmental Accounting and Natural Resource Accounting, within the realm of business operations. As the global business landscape increasingly recognizes the importance of environmental sustainability, understanding the nuances of these accounting practices becomes imperative. Environmental Accounting represents a paradigm shift in how businesses account for the costs and benefits associated with economic activities. The integration of environmental data into financial systems allows for a more accurate evaluation of the true cost of production and consumption. On the other hand, Natural Resource Accounting focuses specifically on quantifying the depletion and degradation of essential resources like water, minerals, forests, and biodiversity. Together, these accounting practices aim to provide businesses with a comprehensive toolkit for measuring, managing, and mitigating their environmental impacts. Through a comparative lens, this study seeks to delineate the similarities and distinctions between Environmental Accounting and Natural Resource Accounting in the context of business operations. It delves into the methodologies, metrics, and tools employed by businesses to account for their environmental footprints and natural resource utilization. By identifying best practices and potential areas for improvement, the research aims to contribute valuable insights to businesses, policymakers, and academics, fostering a deeper understanding of how environmental considerations are integrated into financial decision-making processes. The findings of this study have implications for enhancing corporate transparency, sustainability strategies, and responsible resource management, thereby promoting a more environmentally conscious and economically sustainable approach to business operations.

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