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MINISTRY OF EDUCATION AND TRAINING MINISTRY OF FINANCE ACADEMY OF FINANCE NGUYEN THI KIM TUYEN ENVIRONMENTAL ACCOUNTING IN MINING ENTERPRISES IN BINH DINH PROVINCE Major: Accounting Code: 9.34.03.01 SUMMARY OF ECONOMIC DOCTORAL THESIS HA NOI – 2020 The work was completed at the Academy of Finance Professional advisors: Assoc.Prof, PhD Nguyen Phu Giang PhD Le Thi Dieu Linh Reviewer 1: Reviewer 2: Reviewer 3: The thesis will be defended at the Council of thesis assessment at the Academy level, at ……… hour … , the day…… month………year …… The thesis can be found at the Libr ar y: …………………………………………………………………… INTRODUCTION Research ideal Sustainable development has become an indispensable development trend for global businesses Environmental accounting (EA) is an accounting tool which is suitable for sustainable development because it helps firms achieve environmental and economic efficiency According to Schaltegger and Burritt (2017), EA is created from stakeholder pressure and changing cost relations At the enterprise level, EA is a part of the accounting system, use the new theoretical framework and accounting methods to record, measure and disclose environmental information that is useful for stakeholder decisions EA is divided into two sections such as environmental financial accounting (EFA) and environmental management accounting (EMA) Mining industry plays a vital role in the Vietnam economic development in general and Binh Dinh province in particular Mining industry in Binh Dinh province is divided into five business sectors, including: quarrying, sand, titanium, leveling soil and natural hot water exploitation The characteristics of these fields have negative impact on the environment such as dust, noise, groundwater and surface water pollution, … Therefore, although most of them are small, medium-sized and unlisted enterprises, the environmental information needs of stakeholders for the mining industry in Binh Dinh province is increasing This industry is significantly influenced by the environmental legal documents of the Government, ministries and local authorities, Consequently, the implementation of EA in the mining industry in Binh Dinh province is an objective certainty In Vietnam, EA is a quite new research field in both academic and practical terms so the number of EA studies is low This makes the EA implementation in Vietnamese firms still face many difficulties and mining enterprises in Binh Dinh province are not an exception With the above analysis, author implements the PhD thesis with topic "Environmental accounting in mining enterprises in Binh Dinh province" Literature review 2.1 Literature review of environmental accounting 2.1.1 Studies of environmental accounting in the world 2.1.1.1 Studies of information recognition of EA in the world Regarding recognition of EFA information, United Nations Conference on Trade and Development - UNCTAD (2002), Japan Ministry of the Environment - JMOE (2005), The International Federation of Accountants - IFAC (2005) gave the concepts, classification of environmental cost, environmental income, environmental assets and environmental liability Regarding recognition of EMA information, United States Environmental Protection Agency - USEPA (1995), United Nations Division of Sustainable Development - UNDSD (2001), JMOE (2005) and IFAC (2005) presented the concepts of environmental cost, environmental income, environmental saving and classification of environmental cost However, the classification of environmental cost is no agreement among organizations According to Schaltegger and Buritt (2000), Burritt et al (2002), EMA information includes environmental physical and monetary information that helps companies to comprehensively assess size and level of environmental impact Qian and Burritt (2011) demonstrate environmental physical and monetary information of direct waste management and recycling activities are higher than indirect operations at 12 local governments in New South Wales state in Australia In addition, Jamil et al (2015) show that EMA practices in Malaysian enterprises are more physical EMA than monetary EMA 2.1.1.2 Studies of information analyzing and processing of EA in the world Regarding process and analysis of the EFA information, accounting standards have great influence on the EFA information that is collected, analyzed to ensure information quality, support stakeholders decision-making However, there is no international accounting standard specifically address environmental information Firoz and Ansari (2010), Goyal (2013), Barbu et al (2014) show that the number of international accounting standards are indirectly and directly related to environmental information Regarding process and analysis of the EMA information, many scholars around the world have provided series of different technical tools, divided into three main groups: cost analysis (life cycle costLCC, activity based costing-ABC and material flow cost accountingMFCA), investment evaluation (total cost assessment- TCA) and performance management (environmental performance analysis, sustainability balanced scorecard- SBSC) (USEPA, 1995; Schaltegger and Müller, 1997; Bartolomeo et al, 2000; UNDSD, 2001; Burritt et al, 2002; Figge et al, 2002; Burritt, 2004; IFAC, 2005; Schaltegger and Wagner, 2006; Onishi et al, 2008; Jasch, 2008; Wahyuni, 2009; Vinayagamoorthi et al, 2012) The main focus of EMA identify, allocate environmental cost and develop environmental performance indicators (Frost and Wilmshurst, 2001) 2.1.1.3 Studies of information providing of EA in the world In terms of disclosure of EFA information, businesses in the world have used compulsory or voluntary disclosure to transmit environmental information to stakeholders Some environmental reporting frameworks have been established to encourage firms in increase the environmental information disclosure, such as: the Sustainable Development Report Framework of the Global Reporting Initiative (GRI), the Sustainable Development Framework of the International Financial Corporation (IFC), Experimental studies on environmental information disclosure are mostly concentrated in developed countries, few studies in emerging industrial or developing nations Some researches of Kreuze et al (1996), Salomone and Galluccio (2001), Sumiani et al (2007), Zhang et al (2008) show that environmental information disclosure raise, types of environmental information is diverse, environmental information is incomparable and unreliable because it has not been normative In terms of disclosure of EMA information, JMOE (2005) issued guidance on internal environmental reports for analyzing and assessing environmental data to better environmental management such as: environmental conservation cost report, environmental conservation activities report, environmental conservation income report, environmental savings report 2.1.2 Studies of environmental accounting in Vietnam 2.1.2.1 Studies of information recognition of EA in Vietnam Regarding recording of EFA information, Vietnamese researchers such as Pham Duc Hieu and Tran Thi Hong Mai (2012), Le Kim Ngoc (2013), Pham Hoai Nam (2016), Hoang Thi Bich Ngoc (2017), Le Thi Tam (2017), Nguyen Thi Hang Nga (2017), Lam Thi Truc Linh (2019) have introduced the concept of environmental assets, environmental cost, environmental liability, environmental income, classification of environmental assets, liability, cost, income These based on the issued documents by EPA (1995), UNDSD (2001), UNCTAD (2002), JMOE (2005) Regarding recording of EMA information, based on the guidance of USEPA (1995), UNDSD (2001), IFAC (2005), JMOE (2005), EMA studies in Vietnam have introduced the concept of environmental cost, income, classification of environmental cost, recorded environmental monetary and non-monetary information (Le Kim Ngoc, 2013; Ha Xuan Thach, 2014; Pham Quang Huy, 2016; Pham Hoai Nam, 2016; Hoang Thi Bich Ngoc, 2017; Le Thi Tam, 2017; Nguyen Thi Hang Nga, 2017) The environmental cost of Vietnamese enterprises is identified mainly as an end of pipe cost (Le Thi Tam, 2017; Hoang Thi Bich Ngoc, 2017; Nguyen Thi Nga, 2017; Ngo Thi Hoai Nam, 2017) 2.1.2.2 Studies of information analyzing and processing of EA in Vietnam Regarding processing, analysis of EFA information, some domestic articles and thesis have mentioned environment international accounting standards, proposed the detailed accounts to accurately measure, identify separate environmental information from traditional accounting information (Nguyen Thi Kim Tuyen, 2016; Pham Hoai Nam, 2016; Lam Thi Truc Linh, 2019) In addition, domestic scholars have focused on processing information of EMA through advanced methods (ABC, MFCA, LCC, ) or environmental performance analysis (Pham Hoai Nam, 2016; Hoang Thi Bich Ngoc, 2014; Hoang Thi Bich Ngoc, 2017; Le Thi Tam, 2016; Le Thi Tam, 2017; Nguyen Thi Hang Nga, 2017) Manufacturing enterprises in Vietnam don’t reflect the environmental costs into particular accounts and allocate them by modern methods, specially monitor them on detailed ledgers as well as assess environmental performance (Pham Hoai Nam, 2016; Le Thi Tam, 2017; Nguyen Thi Nga, 2017; Hoang Thi Bich Ngoc, 2017; Ngo Thi Hoai Nam, 2017) 2.1.2.3 Studies of information providing of EA in Vietnam Regarding disclosing of EFA information, the studies in Vietnam show that the level of environmental information disclosure is still low and does not meet the needs of stakeholder (Pham Hoai Nam, 2016; Nguyen Thi Kim Tuyen et al, 2018; Lam Thi Truc Linh, 2019) Regarding the provision of EMA information, Pham Hoai Nam (2016), Le Thi Tam (2017), Hoang Thi Bich Ngoc (2017), Nguyen Thi Nga (2017) and Ngo Thi Hoai Nam (2017) show that EMA reports are limited in Vietnamese enterprises 2.2 Literature review of factors affecting EA implementation 2.2.1 Studies of factors affecting EA implementation in the world 2.2.1.1 Studies of factors affecting EFA implementation In the previous studies, factors affecting EFA or environmental information disclosure were identified, including: business characteristics (size, industry, profitability, ) (Deegan and Gordon, 1996; Zhang et al, 2008; Malarvizhi and Matta, 2016), stakeholders pressure (government, community, customer, shareholder) (Hoffman, 2001; Liu and Anbumozhi, 2009) These factors are studied from the perspective of background theory combined with practical researches 2.2.1.2 Studies of factors affecting EMA implementation Similar to the EFA, an overview of the factors affecting EMA implementation in the world was studied from two perspectives: background theory and practical researches EMA is influenced by the institutional and social context related to the increase in environmental regulations, environmental awareness affects management awareness (Bouma and Van der Veen, 2002; Qian and Burritt, 2008; Jalaludin et al, 2011; Jamil et al, 2015) and some contextual factors in contingency theory such as: environmental strategy, environmental uncertainty, firm size, industry, (Parker, 1997; Lewis and Harvey, 2001; Qian and Burritt, 2009; Ferreira et al ,2010, Qian et al, 2011; Christ and Burritt, 2013; Setthasakko, 2015) 2.2.2 Studies of factors affecting EA implementation in Vietnam 2.2.2.1 Studies of factors affecting EFA implementation Published studies in Vietnam on the factors affecting the EFA implementation are directed toward identification and measurement factors such as: size, profitability, financial leverage, operation time, independent auditing, coercive pressure of the government, senior management awareness, industry, community pressure, … (La Soa Nguyen et al, 2017; Nguyen Thi Kim Tuyen et al, 2018; Lam Thi Truc Linh, 2019) 2.2.2.2 Studies of factors affecting EMA implementation In Vietnam, researches of factors affecting the EMA implementation have been limited There are related studies such as Nguyen Thi Hang Nga (2017), Le Thi Tam (2017), Nguyen Thi Nga (2017), Hoang Thi Bich Ngoc (2017) These works have identified factors affect the EMA implementation, including: environmental strategy, normative pressure, task complexity, mimetic pressure, coercive pressure, community pressure, manager awareness about environmental cost management accounting, etc 2.3 Research gap The organizations and experts in the world have presented many different aspects in the process of processing information of EA in general and EFA, EMA in particular However, there has been no study of comprehensive and focused EA framework In Vietnam, there are many theses, articles and grassroots researches refers to the recording, processing and providing information of the EA However, the previous EA studies in Vietnam that not cover all aspects of the environmental information processing process, are scattered in EFA, EMA mainly the perspective of environmental cost management but lack of environmental reporting frameworks, means of reporting environmental information Except the research of Pham Hoai Nam (2016), the rest only implement one of the two research lines, namely: EFA or EMA However, Pham Hoai Nam (2016) only present EA implementation, not mention factors affect the EA implementation Regarding the factors affecting the EA implementation in general or EFA, EMA implementation in particular has attracted many researchers in the world and Vietnam However, the results of previous studies are not consistent and there are many differences 2.4 Research orientation 
 According to Herzig et al (2012), EA studies in developing countries are limited Therefore, it is necessary to have new EA research in developing country like Vietnam This study will add in the EA researches in Vietnam when studying both EFA and EMA The thesis will fully synthesize aspects of the information process of EFA, EMA to provide comprehensive, focused EA In addition, the previous researches results in factors affecting EA have been inconsistent, so it is necessary to have research in factors affecting the EA implementation in manufacturing enterprises in general and mining firms in particular Compared to previous studies, this thesis will expand foundation theory, identify and measure the factors related to the EA by mixed research method Research objectives and research questions 3.1 Research objectives The general objective study EA in mining enterprises in Binh Dinh province In order to solve the general objective, the thesis has specific objectives following: - Systematize EA theory in enterprise - Assess the EA implementation in mining enterprises in Binh Dinh province - Identify factors affecting the EA implementation in mining companies in Binh Dinh province - Measure the impact of factors on the EA implementation in mining firms in Binh Dinh province - Proposing solutions to perfect the EA in mining enterprises in Binh Dinh province 3.2 Research questions The thesis has research questions as follows: - What does the EA in enterprise include? - How is the EA in mining firms in Binh Dinh province? - What factors affect the EA implementation in mining companies in Binh Dinh province? 11 CHAPTER 1: THEORETICAL BACKGROUND OF ENVIRONMENTAL ACCOUNTING IN ENTERPRISE 1.1 Overview of environmental accounting 1.1.1 History of formation and development of environmental accounting 1.1.2 Nature of environmental accounting EA is a part of the accounting system, using the new theoretical framework and accounting method to record, measure and disclose environmental financial and non-financial information to support decision making of internal and external stakeholder EA is a means measure the interactions between the environment and business activities, emphasize the link between environmental efficiency and economic efficiency towards sustainable development EFA is a division of financial accounting relate to recording, measuring and disclosing useful environmental information through environmental reporting to external stakeholder such as the government, environmental organizations, investors, financial institutions EMA is the process of recording, processing and analyzing environmental financial information (environmental monetary information) and environmental non-financial information (physical environmental information) to support internal decision making, improve economic efficiency and environmental efficiency 1.1.3 Environmental accounting function EA has the function of collecting, processing, checking, analyzing and providing environmental information for internal and external users The EA function is divided into two types such as the internal function of the EMA, the external function of the EFA 12 1.1.4 Environmental accounting role 1.1.5 Environmental accounting content Based on the accounting process, the EA content includes recording, processing, analyzing, providing environmental information Based on the information users and the provision scope, EA is divided into contents, namely: EFA and EMA In this thesis, the EA content is studied in the direction of combining accounting process and environmental information users 1.2 Recording information of environmental accounting 1.2.1 Recording information of EFA Environmental non-financial information is environmental qualitative, descriptive information provide external stakeholder about environmental policies, environmental objectives, environmental management system, Environmental financial information is environmental quantitative information express in terms of number, including environmental assets, liability, cost, income Environmental assetss is a resource controlled by enterprise, used for the environmental protection with future economic benefits and the value is determined reliably Environmental liability is an obligation relate to environmental cost meets the standard of recognizing liability Environmental costs includes voluntary or compulsory expenses to manage the environmental impact of enterprises' production activities due to their sense of environmental responsibility and other expenses to achieve the environmental protection goals and requirements of business Environmental income is the income relate to environmental protection activities from selling scrap, waste, emissions certificates,… lead to an increase in economic benefits by increasing assets or reducing liability, contribute to increasing equity 13 1.2.2 Recording information of EMA Environmental physical information is information about flow of energy, water, materials in the past, present and future affect the ecosystem by physical units such as kilograms, meters, tons, Environmental money information is information about the environmental impact related to enterprise in the past, present and future by monetary units such as environmental cost, income, 1.3 Processing and analyzing information of EA 1.3.1 Processing and analyzing information of EFA Environmental assets is measured according to the relevant accounting standards in each country or international accounting standards, including: initial determine and after initial recognition Environmental assets measurement in international accounting standards is shown in IAS 16 for tangible fixed assets and IAS 38 for intangible fixed assets In addition, impairment of environmental assets should be processed according to IAS 36 Environmental liability is mainly measured provisions According to UNCTAD (2002) and IAS 37, there are three methods for estimating provisions: current value method, current cost method, and anticipated future expenditure over the life of the related operations method Environmental cost is measured in the same way as normal expenses Environmental income is measured like normal income 1.3.2 Processing and analyzing information of EMA EMA uses tools such as activity based cost (ABC), material flow cost accounting (MFCA), environmental performance analysis, …to process and analyze information of EMA 1.4 Providing information of EA 1.4.1 Providing information of EFA Enterprises make external environmental reports based on the reporting frameworks such as: global sustainability reporting of the Global Reporting Initiative (GRI), United Nations Global Compact, 14 sustainable development framework of the International Financial Corporation (IFC), …However, the use any framework depends on each country and each enterprise The environmental financial and non-financial information is mentioned in the financial statements or separate reports such as Corporation Social Responsibility - CSR, Integrated Report- IR, sustainable development report 1.4.2 Providing information of EMA EMA provides environmental reports for management Internal environmental report is not required to comply with legal regulations, accounting standards In other words, depending on the management characteristics and manager requirements to set up the internal environment reporting content and form 1.5 Background theory Background theory is an extremely vital foundation to explain and argue logically for factors affect the EA implementation The thesis uses background theories such as: stakeholder, legitimacy, institution, contingency, signaling, agency theory These theories synthetic economic, political, social aspects, correlate with each other when explaining the EA implementation The six background theories explained factors affect EA discovered from previous studies such as senior management awareness, corporate characteristics, stakeholder pressure, coercive pressure, normative pressure, 1.6 Experience in EA of some countries in the world and lessons for Vietnam From the similarity in Asian culture as well as learning by EA experience in advanced countries for environment-sensitive industries including mining industry, the author has studied the EA in Japan, Korea, United States, Australia to gain experience for Vietnam Conclusion chapter 15 CHAPTER 2: SITUATION OF ENVIRONMENTAL ACCOUNTING IN MINING ENTERPRISES IN BINH DINH PROVINCE 2.1 Overview of mining industry in Binh Dinh province 2.2 Situation of EA in mining enterprises in Binh Dinh province 2.2.1 Describe the research sample The sample of the thesis is selected by probability sampling method with stratified sampling technique The sample is collected by survey method and the sample size is 149 observations 2.2.2 Qualitative research in the EA implementation and the factors affect the EA implementation in mining enterprises in Binh Dinh province Regarding the EA implementation in mining enterprises in Binh Dinh province, author assessed on the basis of classification of listed companies and unlisted enterprises ü Unlisted companies In terms of recording information of EA: unlisted mining enterprises in Binh Dinh province mainly recorded environmental financial information in the EFA aspect Meanwhile, the aspect of EMA, environmental information is mainly recorded identifiable monetary information Most of these companies have not focused on environmental physical information, environmental non-financial information In terms of processing and analyzing information of EA: In the EFA respect, environmental information was processed like traditional financial accounting information by measuring according to the current accounting standards and regulations, has not separated or reflected into a separate account From the EMA perspective, the processing and analysis of environmental information through modern methods, analysis of environmental performance have still limited In terms of providing information of EA: From EFAperspective, unlisted mining enterprises in Binh Dinh disclosed environmental 16 information through financial statements From the EMA perspective, preparation of internal environmental reports in these enterprises was still limited ü Listed companies In terms of recording information of EA: In the EFA aspect, listed mining enterprises in Binh Dinh province also mainly recorded environmental financial information such as environmental cost, liability, assets In addition, these firms recorded environmental non financial information about the volume of materials, water, energy, compliance with environmental regulations In the EMA aspect, these enterprises focus on monetary information, mainly environmental cost, rather than interesting in environmental physical information In terms of processing and analyzing information of EA: EFA information in listed mining enterprises in Binh Dinh province was processed and measured like unlisted enterprises In the EFA respect, these companies did not use environmental performance index to make dicisions and environmental cost was allocated by traditional criteria In terms of providing information of EA: From EFAperspective, financial statements, annual reports are used by listed mining companies in Binh Dinh province to disclose environmental information to outside From the EMA perspective, enterprises were not interested in setting up and using internal environmental reports to make decision Regarding the factors affecting the EA implementation, the author identifies factors through in-depth interviews with managers, namely: state agencies pressure, enterprise characteristics, senior executive awareness, customer awareness, community awareness, accountant qualifications 17 2.2.3 Quantitative research in the EA implementation and the factors affect the EA implementation in mining enterprises in Binh Dinh province 2.2.3.1 Research hypotheses Research hypotheses are built based on background theories, previous studies combined with expert opinion Hypothesis (H1): Stakeholder pressure has a positive relationship with EA implementation in mining enterprises in Binh Dinh province Hypothesis (H2): Awareness of senior executive has a positive relationship with EA implementation in mining enterprises in Binh Dinh province Hypothesis (H3): Accountant qualifications of EA has a positive relationship with EA implementation in mining enterprises in Binh Dinh province Hypothesis (H4): Business characteristics has a positive relationship with EA implementation in mining enterprises in Binh Dinh province 2.2.3.2 Research model The research model is a multivariate linear regression model (Figure 2.1) The dependent variable is the EA implementation (THKTMT) includes observed variables (Table 2.6) The independent variables are stakeholders pressure (ALBLQ) includes observed variables, senior executive awareness (NTNQT) includes observed variables, accountant qualifications of EA (NVKT) includes observed variables and business characteristics (BC) includes observed variables (Table 2.7) The multivariate regression equation is used in this thesis as follows: THKTMT = α1 ALBLQ + α2 NTNQT+ α3 NVKT + α4 DDDN + ε 18 2.2.3.3 Quantitative research in the EA implementation in mining enterprises in Binh Dinh province The EA implementation in mining enterprises in Binh Dinh province are very low with mean 2,147 0,5; Eigenvalues value = 5,583 and total variance explained = 69,791%> 50%, so the conclusion is accepted in EFA EFA of four scales of factors affecting THKTMT shows that KMO coefficient = 0,701; Sig value = 0,000; Eigenvalues value = 1,652 and total variance explained = 72,296% > 50%; the load coefficients > 0.55 Thus, EFA is appropriate and the EFA results have discovered a new factor in addition to the original factors The new factor is named coercive pressure of the state agency, including the ALBLQ1 (coercive pressure of the Government 's law), ALBLQ2 (coercive pressure of Ministries ‘s law), ALBLQ3 (coercive pressure of legal documents of local authorities) Five factors explained 72,296% of data variation through 17 observed variables Multivariate linear regression analysis 19 From the results of EFA, the research hypotheses and the research model change from origin, showing in Table 2.12 and Figure 2.2 The official multivariate regression equation is used in this thesis following: THKTMT = α1 ALCC + α2 ALBLQ + α3 NTNQT + α4 NVKT + α5 DDDN+ ε Bảng 2.12: Official research hypotheses Expected Hypotheses Content sign Stakeholders pressure has a positive H1 relationship with EA implementation in + mining enterprises in Binh Dinh province Awareness of senior executive has a positive H2 relationship with EA implementation in + mining enterprises in Binh Dinh province Accountant qualifications of EA has a positive relationship with EA H3 + implementation in mining enterprises in Binh Dinh province Business characteristic has a positive H4 relationship with EA implementation in + mining enterprises in Binh Dinh province Coercive pressure of the state agency has a positive relationship with EA H5 + implementation in mining enterprises in Binh Dinh province (Source: Proposed by the author) The results of the regression analysis show that the multivariate linear regression equation of this thesis is: THKTMT = -3,479 + 0,592 ALCC+ 0,089 ALBLQ + 0,310 DDDN + 0,481 NTNQT + 0,266 NVKT 20 Analysis differences by business sector The EA implementation has difference between business sectors in the mining enterprises in Binh Dinh province, the highest business sector is the quarrying enterprises (mean = 2,609), then the titanium companies (mean = 2,588) and the lowest business sector is sand firms (mean = 1,822) (Table 2.18) Analysis differences by survey subject There is no difference in the EA implementation among survey subjects in mining enterprises in Binh Dinh province 2.3 Assess the situation of EA in mining enterprises in Binh Dinh province 2.3.1 Positive consequences Mining enterprises in Binh Dinh province have recorded EA information as a part of traditional accounting information The quantitative environmental information was identified sufficiently, including: environmental cost, assets, liability This information was measured, reflected into accounts according to accounting standards, system and current circulars, decisions Besides, these enterprises present and provide EA information to external information users according to Circular 200 / TT-BTC, Circular 133 / TT-BTC, Circular 155/2015 / TT-BTC 2.3.2 Drawbacks EA information was not fully recorded when most of the mining enterprises in Binh Dinh province were not interested in environmental non-financial information, environmental physical information, especially waste costs In addition, the EA information has not been tracked, reflected separately on detailed accounts, detailed books, and distributed environmental cost by traditional criteria, environmental efficiency indexs have not been used in the business activities analysis Moreover, the environmental, social and economic aspects have not been integrated into a sustainable management tool in these enterprises 21 2.3.3 Cause Vietnam has not had guidedance of the EA implementation, lack of environmental accounting standards and state management agencies, professional associations, education organizations have not promoted and encouraged strongly the EA implementation In addition, there is a lack of linkage between the accounting department with the technical and environmental departments in the organizational structure of mining enterprises in Binh Dinh province as well as the manager's environmental awareness, the accountant qualifications of EA in these enterprises are still low Conclusion chapter CHAPTER 3: SOLUTIONS PERFECTING ENVIRONMENTAL ACCOUNTING IN MINING ENTERPRISES IN BINH DINH PROVINCE 3.1 Orientation of environmental protection and development of mining industry in Binh Dinh province 3.2 Viewpoint perfecting EA in mining enterprises in Binh Dinh province 3.3 Solutions perfecting EA in mining firms in Binh Dinh province 3.3.1 Conditions for implementing solution In order to establish foundation for EA perfect, according to author, the Ministry of Finance needs revise, complete or issue new accounting standards relate to the EA implementation, including: revise VAS 03 according to IAS 16, promulgate new accounting standards according to IAS 36, IAS 20, IFRS 3.3.2 Perfecting recognition information of EA 3.3.2.1 Perfecting recognition information of EFA Mining enterprises in Binh Dinh province need identify independently, monitor separately environmental assets, cost, ability, income and make clearly environmental non-financial information 22 3.3.2.2 Perfecting recognition information of EMA Mining enterprises in Binh Dinh province, especially the quarrying and titanium business sector need to monitor important environmental physical information in Table 3.1 3.3.3 Perfecting process, analysis information of EA 3.3.3.1 Perfecting process, analysis information of EFA Mining enterprises in Binh Dinh province need to capitalize environmental rehabilitation cost into environmental assets according to IAS 16 Depending on the assets characteristic in business activities, enterprises have appropriate depreciation methods instead of using the straight-line depreciation method The provision for environmental liability should be reliably estimated by the present value method with the discount rate being the market rate of the government bond At the same time, businesses design detailed accounts and form, content of detailed ledgers to manage environmental information 3.3.3.2 Perfecting process, analysis information of EMA Depending on resources, information needs, cost and benefit relationship and environmental sensitivity, mining enterprises in Binh Dinh province could implement individually or combine MFCA and ABC methods to manage environmental cost In addition, firms need build an environmental performance index as tool to assess environmental risks, implement environmental strategy (Table 3.2) Furthermore, businesses should build the sustainability balanced scorecard as a tool to integrate economic, social, environmental aspects and sustainable management (Table 3.3, Figure 3.1) 3.3.4 Perfecting disclosure information of EA 3.3.4.1 Perfecting disclosure information of EFA Unlisted mining enterprises in Binh Dinh province need complete environmental information disclosure on their financial statements by adding non-financial information, presenting environmental information into a separate section on notes to the financial statements Meanwhile, listed companies in the short term complete 23 environmental information published on financial statements, annual reports In the long term, establishing independent environmental reporting under the GRI framework follows the roadmap apply international accounting standards issued by the Ministry of Finance (Table 3.4) 3.3.4.2 Perfecting disclosure information of EMA Some internal environmental reports are proposed in Table 3.5 and Table 3.6 3.4 Proposals support the EA implementation in mining enterprises in Binh Dinh province From the results of factors impact on the EA implementation in chapter 2, the author proposes the state management agencies, other stakeholders and mining enterprises in Binh Dinh province to promote the EA inplementation in these enterprises Conclusion chapter 24 GENERAL CONCLUSION The EA is a research topic spreading from developed countries to developing countries all over the world The EA is linked with sustainable development because it records, processes and provides environmental information to stakeholders towards better environmental governance and minimization of environmental impacts EA is a new accounting field in Vietnam, so the number of researchs is low Therefore, this study will contribute to flow of academic research as well as practical research on the EA in Vietnam in particular and the developing countries in general Academically, thesis presents comprehensive, focused and complete theoretical basis of EA on aspects from recording environmental financial and non-financial information, processing environmental information by measuring environmental assets, cost, income, liability, distributing environmental cost, analyzing environmental performance to disclosing environmental information in both EFA and EMA perspective In terms of practice, thesis has clearly described the EA in mining industry in Binh Dinh province Besides, thesis has measured the vital factors affecting the EA identified in previous studies The results of thesis show that the independent variables are statistically significant and positive relationship with the dependent variable, including: coercive pressure from state management agencies, stakeholders pressure, senior management awareness, accountant qualifications, corporate characteristics These factors are consistent with background theory and previous studies From the results, the author clearly analyzes limitations to offer some solutions and recommendations to promote EA implementation in Vietnam in general and the mining industry in Binh Dinh province in particular This meets the global sustainable development trend and international practices 25 THE PUBLICATIONS RELATED TO THE THESIS Nguyen Thi Kim Tuyen, Nguyen Thi Mai Huong (2017), "Factors affecting the disclosure of environmental information of companies listed on Vietnam Stock Exchange", Journal of Accounting & Auditing, No 8/2017 (167), 33-35.52 Nguyen Thi Kim Tuyen, Nguyen Thi Mai Huong (2018), "Barriers affecting the environmental accounting implementation in Vietnamese enterprises", Journal of Accounting & Auditing, No 12/2018 (183), 15-19 Nguyen Thi Kim Tuyen, Nguyen Thi Mai Huong, Do Khanh Ly (2019), "The factors affecting the environmental information reporting of listed companies in Vietnam”, Journal of Science and Technology, Vol 37 01/2019, 110-122 Nguyen Thi Kim Tuyen, Nguyen Ngoc Tien, Nguyen Thi Mai Huong (2019), “Assessing the level of environmental information disclosure by listed companies on the stock market in Vietnam”, Journal of Problems and Perspectives in Management, Volume 17, Issue 3, p 207-217 Nguyen Thi Kim Tuyen (2019), "Building sustainability balanced scorecard in mining enterprises in Binh Dinh province", Journal of Accounting & Auditing, No 10/2019 (192), 55-59 Nguyen Thi Kim Tuyen (2019), "Building environmental peformance indicators in mining enterprises in Binh Dinh province", Journal of Auditing Scientific Research, No 145, 11/2019, 41-48 Nguyen Thi Kim Tuyen (2019), "Environmental accounting in mining enterprises in Binh Dinh province", Journal of Finance Business Administration, No16, 12/2019, 65- 72 Nguyen Thi Kim Tuyen (2020), “Studying factors affecting environmental accounting implementation in mining enterprises in Vietnam”, Journal of Asian Finance, Economics and Business, Vol 7, No 5, 131 – 144 ... industry, (Parker, 1997; Lewis and Harvey, 2001; Qian and Burritt, 2009; Ferreira et al ,2010, Qian et al, 2011; Christ and Burritt, 2013; Setthasakko, 2015) 2.2.2 Studies of factors affecting EA implementation... information to external information users according to Circular 200 / TT- BTC, Circular 133 / TT- BTC, Circular 155/2015 / TT- BTC 2.3.2 Drawbacks EA information was not fully recorded when most... environmental cost is no agreement among organizations According to Schaltegger and Buritt (2000), Burritt et al (2002), EMA information includes environmental physical and monetary information