Green Accounting and sustainability accounting are two accountability movements that are becoming more popular in their use by businesses. It is stated that in doing so, a business can incorporate many other factors that may affect the profitability of their company. Reputation, legitimacy, employee related problems and other things all have internal and external costs that a company has to deal with. However, I think that the ultimate benefits of green accounting does not fall on the businesses lap. Instead, as Vincent(2000) asserts, “We seek through green accounting to answer the question – Will a country be as well-off in the future as in the present” (p.14). It seems that green accounting can be of great importance to countries and their respective governments. By knowing such information, a country can act accordingly in an effort to address world related problems.
Is it possible for a country to use green accounting to set standards for businesses in an effort to address common problems presented in reports? Can practices be established such that they will help create a future where its citizens are well off financially, socially, and environmentally?
