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ABSTRACT
The
study examined the relationship between Environmental Accounting Disclosures
and firm’s profitability in the Nigerian oil and gas industry in South- South
region of Nigeria from 2006 – 2015. The
main objective of the study was to examine the extent to which environmental
accounting disclosure impact on firm’s profitability. The methodology adopted was ex-post factor
design, this is because the event have already taken place in the past, the
design used in the study is descriptive and exploratory manner because the data
is aim at testing the hypothesis. The
study used secondary data, the data were collected from textbook, magazines, internets materials
and financial statement of Mobil Producing Nigeria Ltd from (2007 – 2016). The hypotheses were tested using Pearson
Product Moment Correlation, the test is used via SSPSS view. The findings from the study showed a
significant relationship between environmental cost and profitability of
selected firms. The study recommended
that companies should adopt uniform reporting and disclosure of environmental
issues for the purpose of control and measurement of performance and government
should make environmental reporting in annual report compulsory since most
organizations loudly report their environmental activities in their report.
TABLE OF CONTENTS
Pages
Cover page – – – – – i
Title page – – – – – ii
Declaration – – – – – iii
Certification – – – – iv
Dedication – – – – – v
Acknowledgement – – – vi
Abstract – – – – –
Table of contents – – – – viii
CHAPTER ONE: INTRODUCTION
1.1 Background of the study – – – – – – 1
1.2 Statement of the problem – – – – – – 3
1.3 Objectives of the study – – – – – – 4
1.4 Research Questions – – – – – – 5
1.5 Research Hypothesis – – – – – – 5
1.6 Significance of the study – – – – – – 6
1.7 Scope of the study – – – – – – – 6
1.8 Limitation of the study – – – – – – 7
1.9 Organisation of the study – – – – – – 7
CHAPTER TWO – REVIEW OF RELATED
LITERATURE
2.0 Introduction – – – – – – – 9
2.1 Conceptual Review – – – – – – 9
2.1.1 Meaning and Concept of Environmental
Accounting – 9
2.1.2 Objectives of Environmental Accounting – – – 11
2.1.3 Benefits of Environmental Accounting – – – 12
2.1.4 Accounting interest in the Environment – – – 14
2.1.5 Impact of Environmental Issues on Financial
Statement – 15
2.1.6 Environmental Information and their Users – – – 20
2.1.7 Basic Environmental Accounting Elements – – – 25
2.1.8 Disclosure of Environmental Accounting
Information – 27
2.1.9 Determinant of Environmental Reporting in
Nigeria – – 28
2.1.10
Environmental Accounting and Profitability – – 33
2.1.11
Importance of Environmental Accounting – – – 34
2.1.12
Challenges and Problems of Environmental Account – 36
2.2 Theoretical Review – – – – – – 37
2.2.1 Legitimacy Theory – – – – – – – 37
2.2.2 Stakeholders Theory – – – – – – 39
2.2.3 Agency Theory – – – – – – – 41
2.2.4 Institutional Theory – – – – – – 42
2.3 Empirical Review – – – – – – – 44
CHAPTER THREE – METHODOLOGY
3.0 Introduction – – – – – – – 47
3.1 Design of the Study – – – – – – 47
3.2 Area of the Study – – – – – – – 47
3.3 Method and sources of Data Collection – – – 48
3.4 Model Specification and Variable
Description – – 48
3.5 Data Analysis Technique – – – – – 49
CHAPTER FOUR – DATA PRESENTATION,
ANALYSIS AND INTERPRETATIONS
4.1 Introduction – – – – – – – – 50
4.2 Data Presentation – – – – – – – 50
4.3 Testing of Hypothesis – – – – – – 51
4.4 Discussion of Findings – – – – – – 52
CHAPTER FIVE – SUMMARY OF FINDINGS,
CONCLUSION AND RECOMMENDATIONS
5.1 Summary of Findings – – – – – – 53
5.2 Conclusion – – – – – – – – 54
5.3 Recommendations – – – – – – – 56
References
– – – – – – – – – 58
LIST OF TABLES
TABLE TITLE
PAGES
Table 1: Environmental Cost and Profit After Tax of
Mobil
Producing Nigeria – – – – – – 50
Table 2: Analysis of Data Using SSPSS
(Environmental
Cost
and Profit After Tax) – – – – 51
CHAPTER ONE
INTRODUCTION
1.1 Background
of the Study
Companies
are expected to prepare annual reports which disclose both qualitative and
quantitative information about their operations and performance (economical,
financial, social or otherwise) to be presented to their stakeholders (owners
or shareholders, government, employees etc.).
The information content requirements of these stakeholders are diverse
and as such, firms must not only disclose information about their financial
performance but prepare other reports such as Environmental Accounting reports,
sustainability report, Human Resources Accounting report, Good Corporate
Governance Report and so on.
According to Beredugo and Mefor (2013),
environmental accounting is an inclusive field of accounting. It provides reports for both internal and
external use. It generates environmental information to aid management
decisions on pricing, controlling overhead, and capital budgeting. Disclosing
environmental information is of interest to the public and to the financial
community.
In the developing countries and
Nigeria in particular, research previously conducted has shown that
environmental accounting disclosure are voluntary as a result of non-availability
of either local or international standards to guide disclosure. Companies tend to disclose this information
to conform to industry practices, pressures from environmental activist and
advocates, relationship with parent company (multi-National Corporations),
ownership structure of the company, size and level of profitability. (Bela,
2004).
The current position of environmental accounting
reporting and disclosures might best be described as confusing and full of
ambiguity. Statutory, regulatory. Quasi-regulatory
agents and standard setters are yet to prioritize the reporting and disclosure standard
and requirement for environmental accounting. While the accounting profession
globally recognizes the financial importance and significance of environmental
costs and its benefits. The majority
argued that the accounting and reporting for these costs need no new
theoretical issues and underpinnings but rather the guidance and requirement of
International Accounting Standard 1 (IASI) (presentation of financial
statement) are satisfactory. The impact
of the absence of the accounting standard on environmental reporting and disclosure
and the level of variations in the disclosure are some of the pertinent issues surrounding
current discussion in this area.
1.2 Statement
of the Problem
Environmental
accounting involves the identification, measurement and allocation of
environmental costs and the integration of these costs into business. It
encompasses the methods of communicating such information to companies’
stakeholders. In this sense, it is a
comprehensive approach to ensure good corporate governance that includes
transparency in its societal activities.
The unserious attitudes of several items have not take environmental
accounting into consideration makes performance below expectation (Deegan,
2014). This is because environmental
accounting helps the items to record all environmental costs incurred by the
business, finding a way of reducing the impact of it activities on the
environment (environmental expenses) so as to remain environmentally friendly.
According to Pramanik, Shil and Das (2007).
Some of the specific issues (problems) affecting the environmental
accounting and reporting practices include: Identification of environmental
cost and expenses, Capitalization of cost, Identification of environmental
liabilities and Measurement of liabilities
At present, no accounting standard has
been issued for accounting treatment of these specific problems. However, some guidelines
regarding these issues have been issued by many organizations such as
international chamber of commerce, the Japanese Industry Association, the
chemical manufacturing association, inter-governmental working group of expert
on intimation standards of accounting and reporting. As regard environmental reporting, different
organizations have also issued guidelines.
But these guidelines are only advisory in nature and not mandatory. Consequently, the researcher interest is therefore
to investigate the practice reporting status of the companies in South-South
Region of Nigeria and how this affects the profitability of these companies.
1.3 Objectives
of the Study
The main objective of this study is to
examine the extent to which environmental accounting disclosure impacts on
firm’s profitability. The specific
objectives are:
1. To
evaluate the level of environmental information activities disclosed by firms
in their annual reports.
2. To
examine the effect of the different accounting method of disclosing
environmental accounting cost.
3. To
examine the relationship between environmental accounting disclosures and
firm’s profitability.
1.4
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