Publication: Environmental Management Accounting (EMA): Is There A Need?
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Date
2016
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
CENTRE FOR ENHANCING KNOWLEDGE (CEK), UK
Abstract
Mounting awareness among various stakeholders of environmental management issues has motivated companies to place sustainability development on their business agenda. However, the conventional accounting system is not able to capture environmental concerns which this has hindered companies from identifying opportunities for improving their environmental performance. Environmental Management Accounting (EMA) therefore becomes an important innovation to be applied by business firms to allow them to identify ways for more efficient processes and better consumption of resources that may lead both to positive environmental and economic performance. Unfortunately, this system is not widely implemented yet. Therefore, this paper outlines the motivation for the uptake of the practice. Based on diffusion of innovation perspective, it is found that environmental concerns are not currently perceived as a priority. Due to this, companies do not feel the need to change to another system and dismissed EMA as impractical for them.
Description
Keywords
Environmental Management Accounting, Accounting innovation, DOI
Citation
International Journal of Liberal Arts and Social Science Vol. 4 No. 6 August, 2016