A Study on Application of Accounting for Biodiversity By Way of Operationalizing Environmental Accounting

Abstract

Accounting for biodiversity assess the cost of global biodiversity and conversational knowledge.Accounting for biodiversity is having the greatest potential in facilitating the depth and scope of auditing the environmental issues as recognised in the 2010 publication of International organisation of supreme audit institutions.The significance of accounting for biodiversity is increasing because of the increasing environment issues, economic, social and technological improvements.Natural resources accounting used to enhance sustainable development is necessary for the exact estimation of financial information.Biodiversity accounting is the process of categorizing business activities as nature based,gathering, analyzing and monitoring these environment-related activities, then putting all the gathered materials into the balance sheet to help an organization in the decision making process.The term accounting for biodiversity has various meanings and functions. accounting for biodiversity  can support national income accounting,internal business managerial accounting or financial accounting.The objective of the research is to find the major focus of environmental accounting,the respondent's awareness of the cost that's required to conserve global biodiversity,their agreeability towards the various reasons for accounting for biodiversity being essential in India,their response towards loss of biodiversity being a greater threat to humanity,their awareness about the five year plan which is a government project to measure the green GDP of Indian states and the respondent's agreeability towards the barriers of environmental accounting.The independent variables used are age,gender,educational qualifications and employment. The dependent variables are the major focus of environmental accounting,cost of conserving biodiversity,reasons for accounting for biodiversity being essential in India,the loss of biodiversity as a threat to humanity, awareness about government projects to measure the green GDP of all Indian states and the barriers of environmental accounting.The researcher has followed a convenient sampling method. The sample size covered by the researcher is 200.The paper suggests that the application of accounting in biodiversity needs more research to be effectively applied and to extract the full use of it.The aim of this research is to understand the major focus of accounting for biodiversity and find the reasons for essentiality of biodiversity.The author concludes that the application of accounting in biodiversity is very essential in India.