A look into the need for Environmental Accounting and Reporting: A Conceptualization

Environmental pollution by organizations has become one of the major treat to individuals’ wellbeing and therefore become highly concerned to global nations. The pollution involves; air, water, land and underground pollution which endangered and threatened species, oceans, atmosphere and land mass. The organizations concerned pay less attention to their treats in their social responsibility and the reporting of such responsibility in their annual reports. Therefore this study seeks to provide the mechanisms in environmental accounting and the need for its reporting by organizations concerned. The mode of the study is conceptual, hence utilizes materials from journal articles, internet and related publications for the topic. The study started with introduction before moving into the main text where; phases of environmental accounting, function and role of environmental accounting, basic dimensions of environmental accounting, structural elements of environmental accounting and role of professional in environmental accounting and reporting were discussed. The study concludes that manufacturing organizations are polluting the environment, and there is need for them to report their activities of compensating the environment as part of their responsibility in their annual reports.