ENVIRONMENTAL MANAGEMENT ACCOUNTING OF THE ENVIRONMENTAL COSTS

In the context of the concept of sustainable development, according to which economic development must be accompanied by protection and preservation of the environment, the idea of creating reliable and timely information about the environmental activities of economic entities also economic subjects . This information is generated by environmental accounting and serves the purposes of managing and controlling the environmental performance of the economic activities. The eco-efficient way of work reduces the harmful impact of enterprises on the environment and at the same time leads to an increase in their profitability. Eco-efficiency can only be measured and managed in the presence of information accumulated and structured through environmental accounting and its tools. It should be noted that environmental accounting develops and complements the system for collecting environmental data from conventional financial accounting and is an innovative approach to sustainability management of the business. In the scientific literature, environmental reporting is considered at several levels: national and corporate. Viewed at the national level, environmental accounting treats the physical reserves of natural resources, the value degradation of the environment and the necessary costs for the protection and restoration of ecosystems, as well as the determination of true GDP (green GDP) and national income. At the company level, environmental reporting is divided into financial environmental accounting and management environmental accounting. In this regard, this paper aims to present the essence of management accounting and its role in accounting for environmental costs in order to achieve greater environmental efficiency of enterprises and opportunities for their development. Environmental management accounting (EMA) focuses on presenting information about corporate activities that affect the environment, as well as the environmental impacts on the corporation. It allows better registration and control of the costs made for the environmental activities of the enterprise, thus supporting the making of an informed business decision. The main work in the field of management (internal) environmental accounting is in two directions: improving the system of distribution of environmental costs in the private sector and internalization of external (public) costs. According to the International Federation of Accountants (IFAC), environmental management accounting (EMA) is defined as the management of environmental and economic results through the development and implementation of appropriate environmental accounting systems and practices. Environmental management accounting (EMA) is characterized by the following analyzes: life cycle cost analysis, full environmental cost calculation, extended cost-benefit analysis, environmental impact analysis and strategic planning for eco-management.