TITLE:
An Assessment of the Effectiveness on Environmental Management Accounting (EMA) at Sierra Mineral Holdings Limited in Sierra Leone
AUTHORS:
Abu Kai Kamara, Eugene Efayomi Pratt, Philip Koroma
KEYWORDS:
Environmental Management Accounting (EMA), Mixed Methods, Benford’s Law, KNIME Analytical Platform, Research Paradigm, Strategies of Inquiry
JOURNAL NAME:
Open Access Library Journal,
Vol.9 No.11,
November
17,
2022
ABSTRACT: This study gives an assessment of the effectiveness of Environmental Management Accounting (EMA) at Sierra Mineral Holdings Limited in Sierra Leone. Specifically, this study focuses on the present environmental management accounting practices that have been adopted by the management and how risk is being assessed. The study made use of probabilistic sampling and uses a research design that caters to both primary and secondary data. The study made use of the mixed methods techniques that were derived from a research paradigm & strategies of inquiry that were adopted by the researcher, and these however justified the research approach. The study adopted the use of descriptive design surveys using well-structured questionnaires and conducted personal interviews to obtain information. This piece of work used mathematical models like Benford’s Law and the KNIME Analytics Platform software to analyze and interpret data. The findings of this study revealed that there is a high awareness of environmental management accounting for the various cost categories and in the assessment of environmental risk in Sierra Leone as a developing country. The study uses an imaginary company’s income statement to explain the conventional cost as it clearly shows how environmental costs are captured in the notes of the financial statements but then lose their identity in overheads which will prevent management from making informed decisions. Based on the findings of this study, it is prudent that organizations put modalities in place for effective management of environmental management accounting principles.