ENVIRONMENTAL ACCOUNTING: AN ENVIRONMENTAL IMPACT ASSESSMENT OF BUSINESS ORGANIZATIONS (A CASE STUDY OF MTN AND CHEVRON NIGERIA PLC).
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ENVIRONMENTAL
ACCOUNTING: AN ENVIRONMENTAL IMPACT ASSESSMENT OF BUSINESS ORGANIZATIONS (A
CASE STUDY OF MTN AND CHEVRON NIGERIA PLC).
ABSTRACT
This research was conducted after a thorough work at
environmental accounting and its impact assessment on business organization.
The shift in business economics towards environmental issues has led to the
realization of the increasing importance of research in environmental
accounting. The need to increase research in environmental accounting play an
important role in effective management of the environment, and issues such as
environmental liability, environmental exposure and environmental assessment are
being undertaken in environmental accounting.
This study employs the use of questionnaires in order to
receive direct (primary) information from companies that produces environmental
friendly products. The findings in this study suggests among other things, that
legal authorities, standard setting bodies and other regulators cannot come to
a consensus regarding the conceptual framework of environmental accounting and
its disclosure. Thus, disclosure is not mandatory rather voluntary that has no
specific style or format. Still, such disclosure is guided by the social
responsibility and commitment on the part of entities that work as strong
agents for polluting the environment.
Conclusively, issues related to managerial accounting,
external and internal auditing, tax and financial accounting need to be studied
further in order to deal with other environmental issues effectively.
TABLE OF CONTENTS
CHAPTER ONE: INTRODUCTION
1.0 Background to
the Study
1.1 Statement of
Problems
1.2 Objectives of
the Study
1.3 Significance of
the Study
1.4 Research
Questions
1.5 Research
Hypothesis
1.6 Scope and
Limitation of the Study
1.7 Research
Methodology
1.8 Plan of the
Study
1.9 Definition of
Terms
1.10 Outline of other Chapters References
CHAPTER TWO: LITERATURE REVIEW
2.1 Environmental
Accounting as a Conceptual Analysis
2.2 Need of
Environmental Accounting at Corporate Level
2.3 Environmental
Auditing
2.4 How
Environmental Issues Impact on Financial Statements
2.5 Corporate Social
Responsibility
References
CHAPTER THREE: RESEARCH METHODOLOGY
3.0 Introduction
3.1 Restatement of
Research Questions
3.2 Research
Hypothesis
3.3 Research Design
3.4 Population and
Sampling
3.5 Research
Instrument
3.6 Administration
of Questionnaires
3.7 Procedure for
Data Processing and Analyzing
3.8 Limitation of
the Methodology
References
CHAPTER FOUR: PRESENTATION AND ANALYSIS OF DATA
4.0 Introduction
4.1 Respondents' Characteristics and Classifications
4.2 Presentation and Analysis of Data
4.3 Testing of Hypothesis
4.4 Findings
CHAPTER FIVE: SUMMARY
5.0 Preamble
5.1 Summary
5.2 Conclusion
5.3 Recommendations.
5.4 Suggestions for
Further Study
Bibliography
Appendix
CHAPTER ONE
INTRODUCTION
1.0 Backgroundto the
Study
Every business has an overriding responsibility to make the
fullest possible use of its resources both human and material. An enterprise is
a corporate citizen. . Like a citizen, it is esteemed' and judged by its
actions in relation to the community of which it is a member as well as by its
economic performance. The corporate sectors in Nigeria has not been performing
as a good citizen that is why there are so many laws that have been laid down
and further amended from time to time as when required to bound the corporate
sector to fulfil their social responsibility for better development. Chauchan
(2005), stated that "Responsibility towards environment has become one of
the most crucial areas of social responsibility. Recent years have witnessed
concern for environmental degradation, which is 'taking place mainly in the
form of pollution of various types, viz, air, water, sound, soil erosion,
deforestation, etc. It is a worldwide phenomenon. It spoils human health,
reduces economic productivity and leads to loss of amenities (Chauchan
2005:720).
Theconcept of environmental accounting is an emerging and
dynamic one. It is also a fruitful attempt to identify and bring to the light
of the resources exhausted and cost rendered reciprocally to the environmental.
Bartolomeo, et al (2000), described environmental information of interest to
the public and to the financial community. Internal use is better termed
Environmental Management Accounting (Bartolomeo et al, 2000:31). Environmental
accounting is an expansion path. With increasing social focus on the
environment, accounting fills an expectation role to measure performance. The
status of environmental awareness provides dynamic for business reporting its
environmental performance. Environmental accounting is described as involving
the identification, measurement and allocation of environmental costs, the
integration of these costs into business, identifying environmental
liabilities, if any, and finally communicating this information to the
company's stakeholders on a part .of general purpose financial statements
(Pramanik, Shil and Das, 2007: 18). In many countries, environmental accounting
is taken to mean the identification and reporting of environment specific cost
such as liability cost and waste disposal costs. It is accounting for any costs
and benefits that arise from change to a firm's products and processes where
the change also involves a change in environmental impact (Chauchan, 2005:720).
Environmental accounting needs to work as a tool to measure the economic
efficiency of environmental conservations activities and the environmental
efficiency of the business activities of company on a whole. In this sense, it
is comprehensive approach to ensure governance that includes transparency in
its societal activities. It is seen as by corporate managers and environmental
advocates alike as a necessary complement to improve environmental decision
making within the private sector.
From a public perspective, poor environmental accounting
means that the private sector is likely to miss investment and predict design
opportunities that have 'financial and environmental benefits. It is widely
believed that environmental accounting practices, working in organization with
theprivate sector's own profit motive will crease significant environmental
benefits. However, environmental accounting is a broader term and more
expansive when compare to the traditional accounting paradigm in that it allows
the taking of corrective management action to reduce environmental impacts and
cost plans, where appropriate, the external reporting of the environmental and
financial benefits in verified corporate environmental reports or published
annual reports, thus serving as a vital tool to assist management of our
environmental risks and operational costs and for understanding the role played
by the natural environment in the economy.
1.1 Statement of the
Problems
It is amazing that despite the technological advancement
worldwide, the development of human cultures, together with man's capacity to
store, retrieve knowledge and apply informed foresight to the conduct of
affairs, man is yet to possess adequate capacity and holistic responsibility
which would enable him to ensure a total harmonious relationship with the
environment. In Nigeria, where the population is more than 150 million yielding
an average density of more than 120 persons per square kilometer.
From this fact, it is obvious that' Nigeria is already
experiencing high population density. The interaction of these millions of
Nigerian with their respective" environment has left indelible mark on the
landscape. The manifestation of these impacts includes: urbanization,
deforestation, desertification, overpopulation and all kinds of pollution.
These impacts have both negative and positive effects on the natural
environment. It is the negative impacts of man's interaction with the
environment that is emphasized in this study (Omofonmwan and Osa-Edoh, 2008).
In recent years, environmental pollution becomes so acute and
the stakeholders' awareness to the issue becomes so serious that environmental
accounting has become a strong branch of accounting. The present civilization
has involved us in varied activities. The ultimate disposal of the waste leads
to environmental pollution: In many parts of the world, the magnitude of
pollution has already reached an alarming level. During fifties through sixties
of the 19th century, people all over the world become more concerned about the
quality of their environment. Well-known environmental tragedies such as the
massive oil spill in the Niger-Delta region of Nigeria has reinforced in
people's mind the sense that the quality of air, water and a wide range of
other natural resources was being seriously degraded. The intensity of danger
from chemicals can be gauged from the extent of havoc caused by the accident in
some of the multinational companies which has killed and affected several
people. The awareness of the environmental and man's ability to cause damage
started from the fifties of the 19th century.
The adverse environmental effect of economic development has
become a matter of great public concern all over the world. Gradually,
environment is becoming a much more urgent, economic, social and political
problem.
Accountants, as the basic custodian and light bearers of
economic development can no longer shut their eyes to the effect of
environmental issues on business management, accounting, auditing and
disclosure system.
Protection of environmental and the potential involvement of
accountants is becoming a common subject of discussion among the accountants
all over the world. Nowadays, accountants are expected to take a proactive role
in the environmental protection process. With the advent of liberalization,
removal of trade barrier makes it logical that the costs of environmental
degradation due to industrial activities should be internalized in corporate accounts
to the extent possible. That is why environmental accounting is of paramount
important today.
1.2 Objectives of the Study
The objectives of the study are stated as follows: To
(a) Discuss the
principles and theories of environmental accounting.
(b) Investigate the
causes of population in the Nigerian industries
(c) Assess the
impact of the social responsibilities of the Nigerian oil companies on its
operating environment.
(d) Help businesses
understand the full range of environmental costs they incur and how to
incorporate these costs into their decision making.
(e) Proffer
possible solutions on how efficiently and effectively to properly manage our
environment.
1.3 Significance of the Study
The significance of the outcome of this study is as follows:
(a) It will help
companies improve their environmental performance, achieve cost savings or
increased revenues;
(b) Environmental
accounting will also help in supporting rational making in an organization by
having a better insight into the potential befit of investment and costs.
(c) It will also
help in the disclosure of environmental accounting results which will function
as a means for companies to fulfil theirresponsibility to stakeholders and
simultaneously, as a means for appropriate evaluation of environmental
conservation activities.
(d) It will help
companies and other organizations boost their public trust and confidence and
are associated with receiving a fair assessment.
1.4 Research Questions
(a) What are the
principles and practices of environmental accounting?
(b) What are the
causes of pollution and other environmental problems in the Nigeria industries?
(c) What are the
impacts of the-social responsibilities of the Nigerian oil companies on its
operating environment and how can it be assessed?
(d) What are those
environmental costs to be incorporated into business costs for decision making?
(e) What are the
'possible solutions to the environmental problem?
1.5 Research Hypotheses
The following hypotheses are postulated for the study.
Hypothesis One
Ho: Environmental
accounting is not useful in the identification of environmental costs and
benefits.
Hi: Environmental
accounting is useful in the identification of environmental cost as benefits.
Hypothesis Two
Ho: Environmental
Accounting does not translate to profitability.
Hi: Environmental
Accounting translates to profitability.
1.6 Scopeand
Limitations of the Study
This research work is designed to cover the various business
undertakings in Nigeria, in particular, the MTN Telecommunications, Chevron
PIc. However, the study was constructed' by the various factors which hindered
in bringing about a broader scope of the study. These factors include:
(i) The time with
which the study was to be submitted.
(ii) The negative
attitude of the personnel in the various organizations in Nigeria.
(iii) Distrust of
the personnel due to their thinking that the study was meant to disclosure
their flaws.
(iv) Finance i.e.
limited funds.
(v) Distance: Distance was also a limitation of this study.
1. 7 Research Methodology
Primary data shall be used in the course of this research
work. It shall be sourced via the survey method i.e. the questionnaire designed
by the researcher and distributed to the respondents. The researcher would then
collect the filled questionnaire from the respondents in order to analyses the
data collected with the appropriate statistical instrument(s).
The data, which will be collected from the questionnaire,
will be analyzed using the simple percentage method and chi-square. The simple
percentages will be calculated by dividing the total number of questions
answered by the total number of questions and then multiply by 100.
1.8 Plan of the
Study
This research work will be divided into five chapters. The
first chapter will be introduction. Chapter two will focus on the literature
review and theoretical framework of environmental accounting. The third Chapter
will be based on the methodology stating the sample design and the sampling
method to be used. Chapter four would comprise the interpretation and analysis
of responses from the questionnaire that
would be collected using the Chi-square(X2) statistical tool while the
final chapter, which is chapter five, comprises the summary of findings,
conclusion, and recommendation.
1.9 Definition of Terms
(i) Environmental
Degradation: It is defined as the abuse of the environment due to improper
resources management (Omofonmwan and Osa-Edoh, 2008).
(ii) Environmental
Conservation: This is the prevention, reduction and/ or avoidance of
environmental impact, removal of such impact, restoration following the
occurrence' of disinter and other activities (Omofonmwan and Osa-Edoh, 2008).
(iii) Deforestation:
The act of cutting down or burning the trees in an area (Oxford Advanced
Learner's Dictionary).
(iv) Desertification:
The process of becoming or making something a desert (Oxford Advanced Learner's
Dictionary).
1.10 Outline of other Chapters
The rest of the researches carried out were as follows:
Chapter Two: Literature Review - This chapter highlights the
view of other works and provides tentative answers to the research question
stated in chapter one.
Chapter Three: Research Methodology - This chapter describes
the various methods used in the Research study. Sampling design and procedure
will be the 'major work in this chapter.
Chapter Four: Data Analysis and Presentation - This chapter
covers the analysis of the data gathered in chapter three through the use of
statistical tools to test the research hypotheses and interprets the results.
Chapter Five: Summary, conclusion and recommendations - This
chapter will summarize the whole research paper. Conclusion will also be drawn
from the findings and recommendation will also be given to the Research
problems.
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