For the development of sustainability in the society, management accounting related to society is simply a highly comprehensive approach and a better one for the accounting of management. The general utilization of management accounting information related to environment is for the internal calculations of the organization and the making of decision. The procedures of management accounting related to environment for the making of internal decisions including both physical procedures for the consumption of energy and material, final disposal and flows, and procedures of money (Hopwood 2009). These monetary procedures for revenues, savings and costs in consideration with activities having highest potentiality in the impact on the environment. The management of performance related to economy and environment by the implementation and development of adequate accounting practices and systems related to the environment. While these may be including the auditing and reporting in certain organizations, the management accounting of the environment, in the typical sense, includes the costing of life cycle, accounting of full cost, assessment of benefits, and planning of strategy for the management of the environment.
The above stated content contributes in denoting that along with the reports of corporate social responsibility that are important elements of voluntarily disclosing, the reports of finance contribute in constituting support for taking decisions in the process of management. On the other hand, it can be stated that when a number of decisions are considered, there is a need for considering shareholders as well as stakeholders (Wagner 2007). This also helps in revealing the fact that the establishment of management accounting for the environment is based within the context of environmental management. Management accounting is known for playing a relevant role in the management of issues related to the environment. For an instance, management accountants possess the skills and expertise for the improvement of quality in the information related to the environment.