Recently, environmental reporting has gradually been drawing great attention from both
academics and practitioners in the less-developed areas of the world. And requirement for
improvement of environmental performance has extended beyond the concerns of
environmental activists, media and other external stakeholders to become essential interest of
firms’ management who have been realizing the significance of environmental accounting and
reporting to sustainable growth of companies.
This work is about to provide various parties as policy makers and business managers with a
conceptual framework, as a foundation, that can help them in designing and implementing
accounting system(s) that can best report and disclose the environmentally-related information
within the corporate-wide reporting system.
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would fail.
Environmental accounting should be dealt with as an integrated part of a broader corporate
accounting system in which conventional accounting is also a separate part.
Taking in to account those strengths and weaknesses of previous approaches, and
adopted approaches proposed by Bartolomeo et al. (2000), Burritt at el. (2004) suggested an
integrative framework for environmental accounting at firm level to incorporate
environmental information in company accounting/reporting system.
345
Fig. 6. Comprehensive Framework of Environmental Accounting
Source: Burritt at el. (2004)
In this comprehensive framework, two types of environmental impacts and their
measurement are reflected independently.
• Environmentally induced impacts on company’s economic situation are recorded
through monetary environmental accounting systems, using monetary measures such as cost
of site restoration, environmental fees in compliance with laws, value of environmental
assets and liabilities. Monetary environmental accounting is considered as the broaden in the
contents of conventional accounting as they are based on existing methods of conventional
accounting.
• Company’s impacts on environment are reported through physical environmental
accounting systems, using physical measures, for example, amounts of material or energy measured
in physical units like tons, cubic meters. And this is an addition to conventional accounting.
This framework of environmental accounting inherits advantages of early models
because it makes clear distinction between two types of environmentally related impacts –
the central concern of any environmental reporting system. As these two types of
information – physical and monetary environmental information – are developed from
different data sources, measured in different metric units and serve different purposes of
various stakeholders.
Within this framework it is also possible to make further division into sub-systems
by adding other dimensions (such as time frame, user focus, etc.) to address detailed
information needs of different groups of users without breaching the balance and
completeness of the whole system.
5. Conclusion
Though Vietnamese government has taken initial steps to promote its application to
business, current practice of environmental accounting in companies is still weak. Efforts
346
made by the government and professionals are just enough to raise awareness among
academics and practitioners of the importance and implications of environmental accounting
practice at corporate level and are not sufficient to make it realized.
Despite the desire by various stakeholders, management are still lingering in
implementing environmental accounting in their businesses. Obviously, it is challenging to
push a new concept into practice without practical guidance. This fact calls for the need for
thorough fundamental studies that can help developing a comprehensive framework of
environmental accounting that is applicable at corporate level.
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