НЕОПХОДНОСТ УНАПРЕЂЕЊА ЕКОНОМСКИХ И ЕКОЛОШКИХ ПЕРФОРМАНСИ ПРЕДУЗЕЋА: ИЗАЗОВИ ЗА УПРАВЉАЧКО РАЧУНОВОДСТВО ЗАШТИТЕ ЖИВОТНЕ СРЕДИНЕ
THE NECESSITY OF IMPROVING THE ECONOMIC AND ECOLOGICAL EFFICIENCY PERFORMANCE OF COMPANIES: CHALLENGES FOR ENVIRONMENTAL MANAGEMENT ACCOUNTING

Author(s): Dejan Malinić
Subject(s): Energy and Environmental Studies, Accounting - Business Administration, Business Ethics, Socio-Economic Research
Published by: Savez računovođa i revizora Republike Srpske
Keywords: sustainability; corporate social responsibility; eco-efficiency; environmental management accounting; monetary еnvironmental management аccounting; physical environmental management accounting;
Summary/Abstract: It is certain that companies are founded with the goal of creating value for the owners, because otherwise the motives for the functioning of corporate companies would disappear, which would call into question the survival of the corporate economy as we know it. Nonetheless, the fact is that creating value for owners does not mean ignoring the interests of other stakeholders. From a management perspective, this means accepting wider responsibility, responsibility towards other stakeholders, such as creditors, customers, suppliers and others, including the interests of the community and environmental responsibility. The problem is even more interesting in the context of alarming information about the intensity of climate change, the need to preserve the environment, as well as reasonable requests that part of the responsibility for high costs be borne by companies as the key causers of these costs. Environmental accounting is recognized as an instrument by which business entities can effectively manage their economic and environmental performance. In this paper, the emphasis was placed on the challenges of applying environmental management accounting (EMA). At the same time, drivers and limitations of the wider application of environmental management accounting were identified. It was concluded that without upgrading the conventional management accounting with new techniques, it is not possible to calculate environmental costs, nor identify the potential for improvements in the areas of ecological and economic efficiency. In addition, the paper recognizes the possibilities of applying various environmental management accounting tools, which can help managers in the decision-making process.

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