Environmental accounting disclosures and firm’s profitability in the nigerian oil and gas industry in south-south region of nigeria (2006 – 2015)

Cover page –       –       –       –       –       iTitle page   –       –       –       –       –       iiDeclaration –       –       –       –       –       iiiCertification         –       –       –       –       ivDedication –       –       –       –       –       vAcknowledgement         –       –       –       viAbstract     –       –       –       –       –       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

LITERATURE REVIEW

– REVIEW OF RELATED LITERATURE
2.0    Introduction         –       –       –       –       –       –       –       9
2.1    Conceptual Review       –       –       –       –       –       –       9       2.
1.1Meaning and Concept of Environmental Accounting   –       9       2.
1.2Objectives of Environmental Accounting   –       –       –       112.
1.3Benefits of Environmental Accounting       –       –       –       122.
1.4Accounting interest in the Environment     –       –       –       142.
1.5Impact of Environmental Issues on Financial Statement         –       152.
1.6Environmental Information and their Users         –       –       –       202.
1.7Basic Environmental Accounting Elements         –       –       –       252.
1.8Disclosure of Environmental Accounting Information –       27     2.
1.9Determinant of Environmental Reporting in Nigeria –   –       282.
1.10          Environmental Accounting and Profitability     –       –       33     2.
1.11          Importance of Environmental Accounting         –       –       –       342.
1.12          Challenges and Problems of Environmental Account –       36
2.2    Theoretical Review       –       –       –       –       –       –       372.
2.1Legitimacy Theory         –       –       –       –       –       –       –       372.
2.2Stakeholders Theory     –       –       –       –       –       –       392.
2.3Agency Theory   –       –       –       –       –       –       –       412.
2.4Institutional Theory       –       –       –       –       –       –       42
2.3    Empirical Review –       –       –       –       –       –       –       44

Chapter THREE

RESEARCH METHODOLOGY

– 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 AND ANALYSIS

– 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, CONCLUSION AND RECOMMENDATIONS

– SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
5.1    Summary of Findings   –       –       –       –       –       –       53
5.2    Conclusion –       –       –       –       –       –       –       –       54
5.3    Recommendations         –       –       –       –       –       –       –       56References –       –       –       –       –       –       –       –       –       58LIST OF TABLESTABLE                         TITLE                                                     PAGES Table 1:     Environmental Cost and Profit After Tax of Mobil                  Producing Nigeria         –       –       –       –       –       –       50                            Table 2:     Analysis of Data Using SSPSS (EnvironmentalCost and Profit After Tax)     –       –       –       –       51

Project 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.

Project Overview

INTRODUCTION1.1     Background of the StudyCompanies 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 ProblemEnvironmental 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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