Environmental Accounting:A Pre-Requisite for Sustainable Development

Conventional accounting procedure provides a dubius picture about the business of any institution as it falls short in providing information about the qualitative aspects (in quantitative terms) in general and environmental aspects in particular. Environmental aspects include natural resources, work environment, academic environment, administration environment, etc. To fill up this gap environmental accounting is necessary to provide above information to the concerned stake holders of the institution to make them conscious about their environment for sustainable development.

In this context, an attempt is made here to show inadequacies of general accounting procedures that are being used in all types of institution. In addition, a microstudy is made and a model is presened to exhibit how institutions can present environmental accounts that are required for any institution which are interested and/or concerned about sustainable environment.