The Importance of Environmental Accounting in the Context of SustainableDevelopment and Within IFRS Evaluation

Abstract

Nowadays, companies cause a lot of environmental problems because of profit maximization, the endless needs, rapidly advancing technological developments, unconscious consumption of natural resources, as they execute their operations. At first glance, these efforts in order to remove environmental pollution means additional cost to companies in the short term nevertheless they can have a chance of cost minimization in medium and long term and even additional income in this process. To meet the needs of business management and related people about the enviroment, enviromental accounting has started up. The study of TAS/TFRS accounting in the context of the enterprises is focused on enviromental accounting and its importance, reflecting the financial progress on enviromental sensitivity reports and sharing those info with the community. There is no relevant TAS/TFRS on the accounting for and the reporting of environmental costs within the existing set of TAS/TFRS. Because, the accounting principles set out in the existing set of TAS/TFRS are already adequate to deal with the accounting for and the reporting of environmental costs. Also, in our study various suggestions were made for he healthy functioning of enviromental accounting. Keywords: Turkish Accounting Standards, Turkish Financial Reporting Standards, Environmental Accounting,

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