ANALYSIS OF FINANCIAL AND ENVIRONMENTAL SYNERGY THROUGH THE INTEGRATION OF ENVIRONMENTAL ACCOUNTING INTO FINANCIAL REPORTING

Abstract

Professionals' perceptions of environmental accounting are hindered by limited awareness, competing priorities, and a lack of standardized practices. This leads to underestimation of environmental impact, ambiguity, and resistance to change. Addressing these issues requires education and industry-specific standards. This analysis explores the history, practices, and integration of environmental accounting with financial reporting. It focuses on environmental cost accounting, environmental performance indicators (EPIs), and environmental reporting frameworks. This study investigates the integration of Environmental Accounting with Financial Accounting, exploring the implications for organizations. Integrating environmental accounting with financial reporting is explored, highlighting benefits, challenges, and potential solutions. The analysis also examines the mapping and alignment of environmental indicators within financial reporting structures and the role of technology in facilitating this integration. The analysis synthesizes key findings, elucidating the implications of an organization's environmental accounting practices on its sustainability strategy.