A Study on Green Accounting and Its Challenges in India
An industry uses various resources for its functioning be it human, monetary or material. One such resource which is used by industries and is often overlooked is the environmental resource. A company exploits these resources but never cares to give it back to environment. Every company has accountants which shows way to the company for its economic development but they also owe their profits to the environment which can’t be overlooked because economic development without environmental considerations causes crisis. More used today leaves lesser for tomorrow. Everything taken has to be paid back one day, keeping this concern in mind, different corporates are moving towards a new concept called GREEN ACCOUNTNG. It is a concept in which a firm subtracts the cost of environment degraded because of its operations from its profits and eventually uses that money for environmental upliftment. The main goal of green accounting is to help businesses understand and manage this potential consideration between traditional economic goals and environmental goals.
This is a descriptive research paper focuses on the concepts of green accounting, challenges and its benefits. It also shows the attitude of various corporates towards this concept and finally ends the research with a conclusion