Environmental accounting & reporting in India (A comparative study of associated cement companies limited and Ambuja Cements Limited)

In the past decade, there has been a huge demand on financial and economic data about environment and natural resources in India. Environmental Accounting plays a significant role in providing the needed data on surroundings to different users at all levels for various reasons. There is a rising interest in India about subjects such as environmental development, corporate social responsibility, and corporate ecological performance. In all over the world there are an after-effect calls the accountability of corporations in the direction of natural environment. Therefore, Greek corporations have initiated to implementing practices for better ecological performance and reporting them to the public. In current years, environmental pollution becomes so acute; the overall environmental performance rank of India is 155 out of 178 countries. The stakeholder's awareness to this issue becomes so serious that environmental accounting has become a solid branch of accounting. Still, there is no acknowledgement of environmental accounting. Legal authorities, standard setting bodies and other regulators cannot come to regarding the conceptual framework of environmental accounting and its disclosure. Thus, such concept is not obligatory rather voluntary that has no specific style or format. With the passage of time, more rule are coming in modified format that may lead us to reach a common format for recognizing environment related data and revelation thereof through financial statements. In this paper, the theoretical foundation of environmental accounting and reporting is discussed with special reference to industry like ACC Ltd and Ambuja Ltd. After the proper research it is found that the scenario of Environmental accounting practices has not been transformed. Their Environmental Policy shows that they are giving fully efforts for the better protection of environment but on the other hand the research findings doesn't shows the ecological cost, liability, and ecological expenditure.