Submit your papersSubmit Now
For Enquiries: [email protected]
IIARD LogoIIARD

The Role of Accounting in Measuring and Reporting Sustainable Supply Chain Practices

Onyeka Kelvin Chima, Benjamin Monday Ojonugwa, Onyinye Jacqueline Ezeilo, Sandra Orobosa Idemudia, Akoche Ochefu

Abstract

As organizations increasingly prioritize sustainability within their operations, the role of accounting in measuring and reporting sustainable supply chain practices has become crucial. This paper examines the intersection of accounting principles and sustainable supply chain management, highlighting how accounting frameworks can be utilized to track, analyze, and communicate sustainability performance across the supply chain. It begins by defining sustainable supply chain practices and the necessity for transparency in reporting to stakeholders, including consumers, investors, and regulatory bodies. The study emphasizes the importance of integrating environmental, social, and governance (ESG) factors into traditional accounting practices to create a holistic view of sustainability performance. Furthermore, it explores various accounting techniques, such as activity-based costing and life cycle assessment, that can provide detailed insights into resource usage, waste management, and the social impact of supply chain activities. The findings suggest that effective accounting practices not only enhance the credibility of sustainability claims but also foster improved decision- making and strategic planning within organizations. Ultimately, the paper argues that a robust accounting framework is essential for organizations seeking to achieve their sustainability goals and communicate their progress effectively to stakeholders.

Keywords

Sustainability; accounting principles; environmentalactivity-based costing; life cycle assessment

References

[1] O. G. Ejike and A. O. Abhulimen, “Empowerment through event management: A project management approach for women entrepreneurs,” Int. J. Sch. Res. Multidiscip. Stud., vol. 5, no. 01, pp. 15–23, 2024. [2] T. D. Olorunyomi, I. C. Okeke, O. G. Ejike, and A. G. Adeleke, “Using Fintech innovations for predictive financial modeling in multi-cloud environments.” [3] O. A. Ajiva, O. G. Ejike, and A. O. Abhulimen, “Empowering female entrepreneurs in the creative sector: Overcoming barriers and strategies for long-term success,” Int. J. Adv. Econ., vol. 6, no. 08, pp. 424–436, 2024. [4] O. A. Ajiva, O. G. Ejike, and A. O. Abhulimen, “Advances in communication tools and techniques for enhancing collaboration among creative professionals,” Int. J. Front. Sci. Technol. Res., vol. 7, no. 01, pp. 66–75, 2024. [5] O. A. Ajiva, O. G. Ejike, and A. O. Abhulimen, “Addressing challenges in customer relations management for creative industries: Innovative solutions and strategies,” Int. J. Appl. Res. Soc. Sci., vol. 6, no. 08, pp. 1747–1757, 2024. [6] O. A. Ajiva, O. G. Ejike, and A. O. Abhulimen, “The critical role of professional photography in digital marketing for SMEs: Strategies and best practices for success,” Int. J. Manag. Entrep. Res., vol. 6, no. 08, pp. 2626–2636, 2024. [7] E. E. Agu, M. O. Komolafe, O. G. Ejike, C. P. M. Ewim, and I. C. Okeke, “A model for VAT standardization in Nigeria: Enhancing collection and compliance,” Financ. Account. Res. J. P-ISSN, pp. 1677–1693, 2024. [8] I. C. Okeke, M. O. Komolafe, E. E. Agu, O. G. Ejike, and C. P. M. Ewim, “A trustbuilding model for financial advisory services in Nigeria’s investment sector,” Int. J. Appl. Res. Soc. Sci. P-ISSN, pp. 2706–9176, 2024. [9] M. O. Komolafe, E. E. Agu, O. G. Ejike, C. P. M. Ewim, and I. C. Okeke, “A digital service standardization model for Nigeria: The role of NITDA in regulatory compliance,” Int. J. Front. Res. Rev., vol. 2, no. 02, pp. 69–79, 2024. [10] I. C. Okeke, E. E. Agu, O. G. Ejike, C. P.-M. Ewim, and M. O. Komolafe, “A conceptual model for financial advisory standardization: Bridging the financial literacy gap in Nigeria,” Int. J. Front. Res. Sci. Technol., vol. 1, no. 02, pp. 38–52, 2022. [11] I. C. Okeke, E. E. Agu, O. G. Ejike, C. P. M. Ewim, and M. O. Komolafe, “A service delivery standardization framework for Nigeria’s hospitality industry,” Int. J. Front. Res. Rev., vol. 1, no. 03, pp. 51–65, 2023. [12] I. C. Okeke, E. E. Agu, O. G. Ejike, C. P. M. Ewim, and M. O. Komolafe, “A framework for standardizing tax administration in Nigeria: Lessons from global practices,” Int. J. Front. Res. Rev., vol. 1, no. 03, pp. 33–50, 2023. [13] I. C. Okeke, E. E. Agu, O. G. Ejike, C. P. M. Ewim, and M. O. Komolafe, “A theoretical model for harmonizing local and international product standards for Nigerian exports,” Int. J. Front. Res. Rev., vol. 1, no. 04, pp. 74–93, 2023. [14] I. C. Okeke, E. E. Agu, O. G. Ejike, C. P.-M. Ewim, and M. O. Komolafe, “A compliance and audit model for tackling tax evasion in Nigeria,” Int. J. Front. Res. Sci., vol. 2, no. 2, pp. 57–68, 2024. [15] A. O. Abhulimen and O. G. Ejike, “Enhancing dealership management software with AI integration for improved customer service and future innovations,” Int. J. Manag. Entrep. Res., vol. 6, no. 8, pp. 2561–2587, 2024. [16] A. O. Abhulimen and O. G. Ejike, “Solving supply chain management issues with AI and Big Data analytics for future operational efficiency,” Comput. Sci. IT Res. J., vol. 5, no. 8, pp. 1780–1805, 2024. [17] O. G. Ejike and A. O. Abhulimen, “Addressing gender-specific challenges in project and event management: Strategies for women entrepreneurs,” Int. J. Sch. Res. Multidiscip. Stud., vol. 23, no. 02, pp. 34–43, 2024. [18] O. G. Ejike and A. O. Abhulimen, “Sustainability and project management: A dual approach for women entrepreneurs in event management,” Int. J. Sch. Res. Multidiscip. Stud., vol. 5, no. 01, pp. 24–33, 2024. [19] C. Oham and O. G. Ejike, “Customer interaction and engagement: A theoretical exploration of live promotional tactics in the arts,” 2024. [20] C. Oham and O. G. Ejike, “Creativity and collaboration in creative industries: Proposing a conceptual model for enhanced team dynamics,” 2024. [21] C. Oham and O. G. Ejike, “Optimizing talent management in creative industries: Theoretical insights into effective database utilization,” 2024. [22] E. E. Agu, A. O. Abhulimen, A. N. Obiki-Osafiele, O. S. Osundare, I. A. Adeniran, and C. P. Efunniyi, “Discussing ethical considerations and solutions for ensuring fairness in AI-driven financial services,” Int. J. Front. Res. Sci., vol. 3, no. 2, pp. 1–9, 2024. [23] I. A. Adeniran et al., “Data-Driven approaches to improve customer experience in banking: Techniques and outcomes,” Int. J. Manag. Entrep. Res., vol. 6, no. 8, pp. 2797–2818, 2024. [24] C. P. Efunniyi, A. O. Abhulimen, A. N. Obiki-Osafiele, O. S. Osundare, E. E. Agu, and I. A. Adeniran, “Strengthening corporate governance and financial compliance: Enhancing accountability and transparency,” Financ. Account. Res. J., vol. 6, no. 8, pp. 1597–1616, 2024. [25] I. A. Adeniran, A. O. Abhulimen, A. N. Obiki-Osafiele, O. S. Osundare, E. E. Agu, and C. P. Efunniyi, “Strategic risk management in financial institutions: Ensuring robust regulatory compliance,” Financ. Account. Res. J., vol. 6, no. 8, pp. 1582–1596, 2024. [26] O. Urefe, T. N. Odonkor, N. R. Chiekezie, and E. E. Agu, “Enhancing small business success through financial literacy and education,” Magna Sci. Adv. Res. Rev., vol. 11, no. 2, pp. 297–315, 2024. [27] T. V. Iyelolu, E. E. Agu, C. Idemudia, and T. I. Ijomah, “Conceptualizing mobile banking and payment systems: Adoption trends and security considerations in Africa and the US,” Int. J. Sci. Technol. Res. Arch., vol. 7, no. 1, pp. 1–9, 2024. [28] E. E. Agu, T. V. Iyelolu, C. Idemudia, and T. I. Ijomah, “Exploring the relationship between sustainable business practices and increased brand loyalty,” Int. J. Manag. Entrep. Res., vol. 6, no. 8, pp. 2463–2475, 2024. [29] T. V. Iyelolu, E. E. Agu, C. Idemudia, and T. I. Ijomah, “Legal innovations in FinTech: Advancing financial services through regulatory reform,” Financ. Account. Res. J., vol. 6, no. 8, pp. 1310–1319, 2024. [30] O. O. Apeh and N. I. Nwulu, “The water-energy-food-ecosystem nexus scenario in Africa: Perspective and policy implementations,” Energy Reports, vol. 11, pp. 5947– 5962, 2024. [31] O. O. Apeh, E. L. Meyer, and O. K. Overen, “Modeling and experimental analysis of battery charge controllers for comparing three off-grid photovoltaic power plants,” Heliyon, vol. 7, no. 11, 2021. [32] O. O. Apeh, E. L. Meyer, and O. K. Overen, “Contributions of Solar Photovoltaic Systems to Environmental and Socioeconomic Aspects of National Development—A Review,” Energies, vol. 15, no. 16, p. 5963, 2022. [33] E. L. Meyer, O. O. Apeh, and O. K. Overen, “Electrical and meteorological data acquisition system of a commercial and domestic microgrid for monitoring pv parameters,” Appl. Sci., vol. 10, no. 24, pp. 1–18, 2020.

More Articles from JOURNAL OF ACCOUNTING AND FINANCIAL MANAGEMENT

Cashflow Management and the Performance of Commercial Banks in Nigeria

Author: Jeffrey Ayas Iyakonbogha, Clement E. Ozele

The Nigerian Code of Corporate Governance and Financial Performance of Deposit Money Banks in Nigeria

Author: i, Eneaniofu Daniel Mmaduakonam, ii, Azolike Nkiru Nkechi, iii, Emeter Patrick Okechukwu, iv, Okwor Emmanuel Ejimnkonye