Author(s): Manjula Gupta
The term green Accounting or Environmental Accounting was used for the first time in the year 1980’s by Professor Peter Wood. It is an innovated accounting for the environment & it’s wellbeing. It’s a totally a dynamic study & Practice. It is soon going to be introduced universally in practice, because of its significance. in addition to prepare profit and loss or its revenue and expenses environmental or green accounting is a growing field that focuses or provides for accounting the environmental impact .The introduction of green accounting reveals the assurance that an enterprise has towards the environment. It deals with 3 P’s namely PEOPLE, PROBABILITY & the PLANET. India’s former Environment Minister Mr. Jairam Ramesh when in Power insisted for the introduction of Green Accounting Practices in India. Despite the fact that Indian corporate consent to the principles and guidelines with respect to ecological insurance, till now no obvious arrangements are surrounded and detailed at the National, State or even at the organization level, for guaranteeing the degree of consistence to ecological standards.