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ENVIRONMENTAL MANAGEMENT ACCOUNTING SUPPORT TO ISO 14001 IMPLEMENTATION IN SERBIA: A CASE STUDY

Authors:
Dejan Jovanovic at University of Kragujevac
Dejan Jovanovic
Mirjana Todorovic at University of Kragujevac
Mirjana Todorovic
Ivana Medved at University of Novi Sad
Ivana Medved
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Abstract

The main goal of our research is to point to benefits of the implementation of ISO 14001 standard and the role of accounting information in the process of environmental management. The research is methodologically based on the application of a multiple case study of six companies, which is in line with the previous research carried out and the assumptions underlying this method. The research results indicate that the companies recognize the importance of implementing the ISO 14001 standard, i.e. strategic implications of the environmental management process. However, the key problem is that they do not recognize and do not understand the role of accounting support in the process of environmental management.
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... Unfortunately, traditional accounting methods do not provide the ideal framework for identifying the necessary information, as they generally focus on the costs of the used resources and on their aggregation, without taking into account environmental-related activities. As a result, many actual and potential environmental costs will be 'lost' in indirect costs [7]. For example, the labour cost required to remedy an environmental incident may be included (amalgamated) in a financial accounting system, combined with other labour costs, without being allocated to the specific activities that generated them. ...
... A more recent use of EMA comes from the increasing adoption of ISO 14000 family of standards regarding environmental management. In the complex process of certification for ISO 14001, EMA provides relevant data on potential approaches to benefits measurement [7]. ...
... Despite the major benefits and importance of EMA advocated by the research literature, certain studies demonstrated that a number of companies did not consider justified the cost-benefit ratio for implementation of such an accounting system [7]. Moreover, applicative research on this matter concluded that EMA is implemented as an isolated tool, despite that it should be integrated in the overall accounting activities of a company [7]. ...
"Environmental Management Accounting: Analysis of Environmental Costs and Decision-Making in the Organisation "
Article
  • May 2023
Environmental management accounting (EMA) is a relatively new tool in environmental management. EMA can be defined as the identification, collection, estimation, analysis, internal reporting, and use of information regarding materials and energy flow and environmental costs for both conventional and environmental decision-making process within an organisation. Thus, EMA incorporates and integrates two of the three milestones of sustainable development (environmental and economics dimensions), as they relate to an organisation’s internal decisional process.
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... Unfortunately, traditional accounting methods do not provide the ideal framework for identifying the necessary information, as they generally focus on the costs of the used resources and on their aggregation, without considering environmental-related activities. As a result, many actual and potential environmental costs will be 'lost' in indirect costs (Jovanović et al., 2022). For example, the labour cost required to remedy an environmental incident may be included (amalgamated) in a financial accounting system, combined with other labour costs, without being allocated to the specific activities that generated them. ...
... A more recent use of EMA comes from the increasing adoption of ISO 14000 family of standards regarding environmental management. In the complex process of certification for ISO 14001, EMA provides relevant data on potential approaches to benefits measurement (Jovanović et al., 2022). ...
... Despite the major benefits and importance of EMA advocated by the research literature, certain studies demonstrated that several companies did not consider justified the cost-benefit ratio for implementation of such an accounting system (Jovanović et al., 2022). Moreover, applicative research on this matter concluded that EMA is implemented as an isolated tool, despite that it should be integrated in the overall accounting activities of a company (Jovanović et al., 2022). ...
A Debate on Environmental Management Accounting
Article
  • Apr 2023
Environmental Management Accounting (EMA) refers to a set of accounting and performance tools dedicated to companies’ actions towards improvement of their environmental impact. Furthermore, EMA deals exclusively with the company’s internal costs, as it does not include the external costs of individuals, society, or the economic environment over which the company has no decision-making power. It is recognised that EMA is a relatively new tool in environmental management, which can be defined as the identification, collection, estimation, analysis, internal reporting, and use of information regarding materials and energy flow and environmental costs for both conventional and environmental decision-making process within an organisation. Thus, EMA incorporates and integrates two of the three milestones of sustainable development (environmental and economics dimensions), as they relate to an organisation’s internal decisional process.
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... To show the role and responsibility of businesses towards the environment, Environmental Management Accounting Practices (EMAP) have become more indispensable in managing environmental performance and reporting environmental information not only financial but also nonfinancial information regarding the companies' environmental issues (Fuadah et al., 2018;Jovanovic et al. , 2020;Phan et al. , 2017) . Meanwhile, many firms have implemented of the ISO 14001 Environment Management Systems (EMS) standard to manage the environment more efficiently and to also reduce the negative impacts of their operations on the environment. ...
... In addition, the policymakers of manufacturing firms should integrate environmental policy into the business strategies of the company that aims to motivate managers/ employees is probably more effective than a policy that imposes rules with a top-down approach that latter could negatively impact on performances. In accordance with Daddi et al. (2019) and Jovanovic et al. (2020) indicated that improving environmental performance cannot be achieved if companies fail to integrate environmental issues into corporate strategy. ...
Environmental Management Accounting Practices: The Use, Motivations and Barriers for Large Manufacturing Firms in Lower Northern Provinces Group I, Thailand
Article
Full-text available
  • Oct 2024
This work studies environmental management accounting practice (EMAP) that enterprises apply to ensure the prevention of environmental damage caused by their daily operational activities, including motivations and barriers to adoption. A descriptive study was performed in 10 large manufacturing enterprises in the lower northern provinces group I Thailand via semi-structured interviews and in-depth qualitative interviews with manager/ owner. The result shows that half of the enterprises have implemented EMAP as a requirement for qualifying for ISO 14001 certification. The rest only prepare internal reports for planning, controlling and making operational decisions related to environmental information. The result also indicates that strict legislation, integrating environment into corporate strategy, and sufficient resources play a vital role in EMAP adoption. In addition, this study indicates that the key barriers limiting the implementation of EMAP are lack of resources, knowledge/ expertise/ guidance, and internal difficulties, respectively. This study gives contributions to the government, managers and relevant authorities by providing useful information on the motivations and barriers influencing EMAP adoption, which can help them to establish policy in the field of environmental management. Furthermore, it suggests that managers value EMAP for internal management not only for improvement of environmental performance but also increasing the role of accounting in business.
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... These benefits include reduced environmental costs and waste, increased employee motivation and customer satisfaction, improved product quality and enhanced public relations (Gadenne, Kennedy & McKevier, 2009). Reducing negative environmental impacts and improving environmental performance cannot be achieved if companies do not recognize the strategic importance of the environmental management process and do not integrate the environmental management process and environmental protection policy into their business strategy (Jovanović, Todorović & Medved, 2022). The objectives of environmental protection should be in accordance with the environmental policy, monitored, updated, constantly improved and occupy a significant place in the company's business policy. ...