Bennet and james 2000 in the macroeconomic context

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accounting has been termed natural resources accounting.” (Bennett and James, 2000) In the macroeconomic context, from the nation's point of view, one practical example of the use of environmental accounting is in the valuation of environmental and natural resources.
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Environmental accounting emergence and its relation to Corporate Social Responsibility FE7060 Environmental Economics and Investment, 2019 6 o Environmental Corporate Accounting o Environmental Financial Accounting (EFA) – financial internal and external corporate context. As mentioned by Schaltegger et al. (2006), “financial accounting provides the foundation for information gathered within organisations and prepared for presentation to external parties through disclosure in external reports.” “Environmental accounting in this context refers to the estimation and public reporting of environmental liabilities and financially material environmental costs.” (Bennett and James, 2000). As a practical example into this context, the environmental accounting is showed in the financial reports, in the “waste management expenses”, showing a monetary amount spent by the company to reduce the impact of this waste in the environment. o Environmental Management Accounting (EMA) internal corporate context. As defined by Bennett and James (2000), “management accounting is the process of identifying, collecting, and analysing information principally for internal purposes.” “Environmental Management Accounting (EMA) is an attempt to integrate best management accounting thinking and practice with the best environmental management thinking and practice.” (ACCA) The traditional management accounting provides data and indicators in order to be used as a basis of strategic decisions by the management executives in an organisation. Environmental management accounting proposes to generate financial environmental data and indicators and have these aspects considered in the strategic plan of the organisation.
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Environmental accounting emergence and its relation to Corporate Social Responsibility FE7060 Environmental Economics and Investment, 2019 7 Environmental Accounting relation to Corporate Social Responsibility Currently, there is no final or limited definition to Corporate Social Responsibility (CSR), since it can have different approaches and extensions depending on the context. It has been sometimes associated with philanthropy and ethics, but should not be limited to that. As cited by Dahlsrud (2006), according to Jones (1980), “CSR is defined as the notion that corporations have an obligation to constituent groups in society other than stockholders and beyond that prescribed by law or union contract, indicating that a stake may go beyond mere ownership”. Some organisations have developed their CSR strategies based on the Sustainable Development idea and Sustainable Development Goals (SDGs) launched by the United Nations in 2015. In general, it could be an excellent way to start CSR in an organisation. Following that, to have a clear CSR strategy and to be able to achieve that, the company needs to have trusted information regarding all aspects covered by the CSR, and it includes environmental impacts, assets and costs.
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