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Improving environmental management with full environmental cost accounting
Author(s) -
Epstein Marc J.
Publication year - 1996
Publication title -
environmental quality management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.249
H-Index - 27
eISSN - 1520-6483
pISSN - 1088-1913
DOI - 10.1002/tqem.3310060104
Subject(s) - environmental full cost accounting , cost accounting , environmental accounting , activity based costing , profitability index , management accounting , throughput accounting , business , environmental management system , accounting , environmental impact assessment , environmental scanning , environmental economics , environmental resource management , accounting information system , financial accounting , economics , finance , ecology , irrigation , biology
Based on the most comprehensive field research ever conducted in corporate environmental management, this article reports on the integration of environmental impacts into product costing and cost management practices in organizations. It examines approaches for identifying and tracking current environmental costs related to both current and past production. It also develops the need and prospects for a complete analysis of future environmental impacts, including both costs and benefits, and the integration of these elements into a life‐cycle costing or full environmental cost accounting model. The prospects for full environmental cost accounting and the related accounting issues are analyzed. Finally, the importance of full environmental cost accounting for improving corporate environmental performance, reducing corporate environmental impacts, and increasing long‐term corporate profitability is discussed.