Journal of Commerce and Accounting Research

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An Analysis of Natural Resources Accounting Framework in India


Affiliations
1 UGC-Senior Research Fellow, DoS in Commerce, University of Mysore, Mysore, Karnataka, India
2 Professor, DoS in Commerce, University of Mysore, Mysore, Karnataka, India
3 Associate Professor, Department of Business Administration, School of Business and Commerce, Manipal University, Jaipur, Rajasthan, India
     

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The social and economic development of a country is dependent on the efficient use, conservation, and protection of natural resources. Today, we are in a globalised era, and India is one of the fastest-growing economies across the globe, so there is more utilisation of natural resources. It is a matter of sustainability of natural resources in the country; therefore, accountability of utilisation of natural resources by both private and government enterprises is to be efficiently done. For this purpose, there is a need to have an accounting framework, which is possible through Natural Resources Accounting (NRA). The present paper attempted to evaluate the current status of NRA from the Indian perspective, valuation approaches used in NRA, and to analyse the perception of academicians in the stream of accounting and economics. To analyse the data, descriptive statistics and Levene’s independent t-test are used. It can be concluded that the academicians of both the streams are aware of NRA practices and its importance on various aspects of the economy of a particular country, and the globe at large. Further, it is found that there is some level of awareness, and perceived impact of NRA is observed by both accounting and economics teachers in the Indian context.

Keywords

Natural Resource Accounting, Natural Resource Valuation Methods, GASAB
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  • An Analysis of Natural Resources Accounting Framework in India

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Authors

N. Abhishek
UGC-Senior Research Fellow, DoS in Commerce, University of Mysore, Mysore, Karnataka, India
M. L. Ashoka
Professor, DoS in Commerce, University of Mysore, Mysore, Karnataka, India
R. K. Tailor
Associate Professor, Department of Business Administration, School of Business and Commerce, Manipal University, Jaipur, Rajasthan, India

Abstract


The social and economic development of a country is dependent on the efficient use, conservation, and protection of natural resources. Today, we are in a globalised era, and India is one of the fastest-growing economies across the globe, so there is more utilisation of natural resources. It is a matter of sustainability of natural resources in the country; therefore, accountability of utilisation of natural resources by both private and government enterprises is to be efficiently done. For this purpose, there is a need to have an accounting framework, which is possible through Natural Resources Accounting (NRA). The present paper attempted to evaluate the current status of NRA from the Indian perspective, valuation approaches used in NRA, and to analyse the perception of academicians in the stream of accounting and economics. To analyse the data, descriptive statistics and Levene’s independent t-test are used. It can be concluded that the academicians of both the streams are aware of NRA practices and its importance on various aspects of the economy of a particular country, and the globe at large. Further, it is found that there is some level of awareness, and perceived impact of NRA is observed by both accounting and economics teachers in the Indian context.

Keywords


Natural Resource Accounting, Natural Resource Valuation Methods, GASAB

References