Evaluating The Cost Effective Strategies And Taking All The Employees Into Consideration Will Help In Making A Positive Contribution In Environmental Sustainability Aspects And Will Help In Resolving Accounting System Issues.

Legitimacy theory helps in making a proper evaluation of all the aspects related with environmental management and provides a proper set of support in managing company accounts.

Technology is one of the aspects which are growing day by day in present time. It is being observed that due to growth in the technological aspects commercialization, social developments is increasing in the society (Carter & Ross, 2014). It is being observed that manpower is declining due to which environment and surroundings are getti8ng affected. In this growth aspect a question arises that whether these companies or industries working in the market are paying appropriate set of attention towards the environment or not, whether are the are providing proper set of allowance for the harm which is affecting the environment or not (Ajith Sankar R. N., 2015).

The case is about the growing industries in Australia due to which environment is getting affected with the effect of which there accounting management system is getting affected. Environmental management is one of the aspects which require huge cost as it requires that a proper track record should be kept by the organization while performing the organizational management duties. Industries are increasing due to which carbon radiation is increasing in the environment; this increase in the carbon radiation is affecting the Ozone layer which is protecting the environment from the ultraviolet rays (Rankin, 2012). In this situation it has become important for the industries to understand their corporate social responsibilities and develop a proper set of mechanism with the effect of which they can protect the environment from getting affected with the production process they are using. Hence, the report is developed which will help the industries in understanding their corporate social responsibilities towards environment. The report will also provide relevant set of information of how they can solve the accounting issues and manage their fund effectively (He, Shifley & Thompson, 2011).

Carbon radiation is increasing day by day in the environment which is giving rise to the serious health issues. Climatic changes could be seen due the increase in carbon radiation and pollution in the environment (Harris & Roach, 2017). Studies say that industries are the root cause of increase in the carbon radiation due to which Ozone layer is getting affected and the natural calamities are getting affected. In this situation it has become important that the organizations should understand their corporate social responsibilities and apply the practices of monitoring the level of carbon radiation and should apply various strategies with the help of which the level could be maintained (Carter & Ross, 2014). In this all the aspects which will help in understanding the roles and responsibilities of the industries towards the environment will be provided and will also include all the aspects with the help of which organization will be able to save the cost they spend on environmental management issues. This will help the industries in solving all the accounting issues and will help in managing their day to day processes in a proper and relevant way (Burritt, Schaltegger, Bennett, Pohjola & Csutora, 2011). The research will undertake all the aspects related with environmental sustainability and will provide appropriate set of support to the organizations with the help of which they will be able to manage all the accounting issues which could affect the future aspects. The section of the research will include the review of several set of researches in which surveys were done by the researchers to develop better and in depth information related with various aspects of environmental management and the accounting management system (Ajith Sankar R. N., 2015).

The research developed is aimed at developing a proper set of framework for the industries with the effect of which they can save their cost that they are spending on the environment sustainability aspects. The report will provide a proper theoretical description of every single aspect with the effect of which they can reduce the carbon emission and provide a relevant set of support in protecting the environment from getting harmed (Zhu, Cordeiro & Sarkis, 2013). Researchers suggest that the carbon radiation and other harmful gaseous emissions are affecting the ozone layer. Level of pollution is increasing due to carbon emission and various other harmful gases which are omitted by the industries. Using the legitimacy theory a research is being conducted which will help in determining the legitimate ways with the help of which industries available in the market will be able to reduce carbon radiation by making less or minimal expenses (Svensson, 2008).

According to the studies making generalized perception or assumptions that the actions of an entity are desirable and proper within in certain set of social construct systems or norm is known as legitimacy (Rankin, 2012). Legitimacy theory helps the individual in gaining appropriate set of information related with the topic by making certain set of perceptions and evaluation under certain norms, values and beliefs. Hence, by using legitimacy theory various set of perceptions will be made in relation with environmental sustainability aspects and accounting management so that a set direction could be provided to the industries working upon which they will be able to manage their work process and succeed in making an effective set of contribution in making a  healthy and sustainable environment. Information related with the ways with the effect of which carbon radiation could get reduced will be evaluated so that industries could work on them and protect the environment from getting affected by the same (Messner, 2010). 

In present time environment sustainability has become one of the most important aspects which are required to be taken into consideration by the industries working in the market (Kapardis, 2010). For the businesses it has become important that they should work towards to environmental sustainability aspects and should develop the strategies with the help of which their financial performance could get managed. Industries present in the market should indulge in the practices of reducing the omission of green house gases. Green House gases are the gases which trap the heat in the air and affect the Ozone layer. These are the gases which absorb and emit the radiation within the thermal infrared range. There are various greenhouse gases available in the atmosphere these are water vapor, carbon dioxide, methane, nitrous oxide and ozone (Jasch, Ayres & Bernaudat, 2010).

Industries are growing due to which competition is also increasing in the market so as to ensure that the industries could remain in the run it is required that they should focus upon their financial performance. Environment management is one of the aspects which require huge funds as monitoring and controlling the level of carbon radiation and various other harmful gases requires hue investment. Hence, managing such type of aspects is becoming difficult for the organizations due to financial issues. In this situation it has become important that organizations should develop the cost effective strategies like using more man power to reduce the use of machines, providing proper set of training to save energy and motivating them to plan more trees in the premises will help in the environmental sustainability aspects of the organization (Hovardas & Poirazidis, 2007).

Government plays a very vital role in providing effective set of solution to protect the environment. It is required that organizations should take the help of government so as to manage the environmental sustainability aspects. This will help the industries in getting subsidies and financial support in managing the environmental sustainability aspects.

Financial advisor of the industry also plays a very vital role in providing legitimate solution to the financial issues. It is necessary that proper advices should be taken by the industries from the financial advisors in relation with environmental sustainability aspects and should try to apply the cost effective strategies with the effect of which level carbon radiation and emission of harmful gases could get reduced (He, Shifley & Thompson, 2011).

Strategies like plantation of more trees, processing the work with manpower, saving energy and making the work process more energy efficient, switching off the light whenever people go outside the premises and encouraging society to plant more trees will help in environmental sustainability aspects and will help in reducing the level of carbon radiation (Harris & Roach, 2017). Hence, it could be evaluated that using various cost effective methods and providing appropriate training to the employees working at the workplace will help in making an effective contribution in environmental sustainability aspects and will provide a proper set of support to the companies in maintaining financial performance.

H1: Evaluating the cost effective strategies and taking all the employees into consideration will help in making a positive contribution in environmental sustainability aspects and will help in resolving accounting system issues.

H2: Legitimacy theory helps in making a proper evaluation of all the aspects related with environmental management and provides a proper set of support in managing company accounts (Carter & Ross, 2014).

(Burritt, Schaltegger, Bennett, Pohjola & Csutora, 2011)

According to the framework it is necessary that all the institutional environment should be properly identified which consists of macro, meso and micro environment. Then evaluation of the institutional environment should be done in which institutional liability and institutional capital must be evaluated. Then the trade off should be made in which legitimacy should be maintained and efficiency should be developed, and at the last strategic response should be provided. This strategic response will help in managing the contemporary accounting issues and will provide effective set of direction for the growth of the organization (Ajith Sankar R. N., 2015).

Annotated Bibliography of the Articles:

Reference:

Ajith Sankar R. N. (2015). Environmental management. New Delhi: Oxford Univ. Press.

Burritt, R., Schaltegger, S., Bennett, M., Pohjola, T., & Csutora, M. (2011). Environmental Management Accounting and Supply Chain Management. Dordrecht: Springer Netherlands.

Carter, R., & Ross, H. (2014). Trends in environmental management through the lens of theAustralasian Journal of Environmental Management. Australasian Journal Of Environmental Management, 21(2), 200-218.

Harris, J., & Roach, B. (2017). Environmental and natural resource economics. London: Routledge.

He, H., Shifley, S., & Thompson, F. (2011). Overview of Contemporary Issues of Forest Research and Management in China. Environmental Management, 48(6), 1061-1065.

Hovardas, T., & Poirazidis, K. (2007). Environmental Policy Beliefs of Stakeholders in Protected Area Management. Environmental Management, 39(4), 515-525.

Jasch, C., Ayres, D., & Bernaudat, L. (2010). Environmental Management Accounting (EMA) Case Studies in Honduras –an Integrated UNIDO Project. Issues In Social And Environmental Accounting, 4(2), 89.

Kapardis, M. (2010). Contemporary Issues in Accounting. Bradford: Emerald Group Pub.

Messner, M. (2010). Contemporary Issues in Accounting. European Accounting Review, 19(1), 191-192.

Rankin, M. (2012). Contemporary issues in accounting. Milton, Qld.: John Wiley and Sons Australia, Ltd.

Svensson, G. (2008). Research Note Sustainable Management: An Accounting Issue?. Issues In Social And Environmental Accounting, 2(1), 145.

Zhu, Q., Cordeiro, J., & Sarkis, J. (2013). Institutional pressures, dynamic capabilities and environmental management systems: Investigating the ISO 9000 – Environmental management system implementation linkage. Journal Of Environmental Management, 114, 232-242.