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Accounting theory and financial environmental reports

✍ Scribed by Siv Nyquist

Publisher
John Wiley and Sons
Year
2000
Weight
127 KB
Volume
7
Category
Article
ISSN
0968-9427

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✦ Synopsis

This paper discusses whether financial environmental reports can be based on the existing accounting theory. It is found that the accounting postulates do not prevent a financial environmental report, per se. However, some difficult assessment problems do exist, such as valuation of environmental liabilities that may occur in the future. Some of the accounting principles may, on the other hand, be very difficult to comply with. In order to give a true and fair view of the environmental financial situation in the company, an environmental report should contain items that obey the consistency and materiality principles.

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