MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HO CHI MINH CITY - - LAM THI TRUC LINH THE FACTORS AFFECTING THE DISCLOSURE OF ENVIRONMENTAL ACCOUNTING INFORMATION IN AQUACULTURE ENTERPRISES VIET NAM Major: Accountancy Code : 9340301 PhD THESIS - SUMMARY Ho Chi Minh City - 2019 The study was complete at: University of Economics Ho Chi Minh City Supervisor: Assoc Prof Dr Nguyen Khac Hung Assoc Prof Dr Huynh Duc Long Reviewer 1: Reviewer 2: Reviewer 3: The dissertation will be presented to the Dissertation Board at the school level: At … hours … day month year … The dissertation can be found at the library: Introduction 1.1 Topic reasoning The disclosure of information environment is an important step in the implementation of environmental accounting (Chen & Roberts, 2008) Three categories of information must be disclosed: environmental expenses, environmental assets, environmental liabilities on the balance sheet, the income statements and notes of financial statements (Senn, 2018) In foreign studies, environmental information published mainly through the annual report, the disclosure may be voluntary or mandatory According to (Deegan, & 2000; O'Donovan, 2002) announced the voluntary environmental information in the annual report is the way that organizations use to convey a specific message about the activities and measures for environmental protection In addition, the publication of the enterprises environmental information is considered in response to the pressure of the stakeholders such as environmental regulators, providers and communities, business management (Cormier et al, 2005; Neu et al, 1998) Through the publication of environmental information, the businesses desire to enhance legitimacy by the publication of environmental investments and persuade the community to believe that businesses are very interested in the protection of the environment Environmental information published primarily nonfinancial information Depending on the object using the information, their concern that business will announce spending for environmental activities or just emphasize the environmental impact and the measures that businesses have done (Eltaib Eltaib Elzarrouk, 2012) The results of the research on environmental disclosure in the developed and the developing countries from (Al-khuwiter, 2005) indicates that announced the environmental information in developed countries more advanced than the research has been done in the developing countries.In developed countries, research on the determinants and the quality of the environmental information disclosure; investigate the relationship between environmental information and environmental and economic efficiency In contrast, in the developing countries, the focus of the study is whether - -1- companies have published environmental information or not and the amount of this information Environmental information can be provided in various forms as the qualitative statement, quantitative data, financial reports, graphics or images, the CEO's report This information can be presented in annual reports or independent report or sustainability report according to Global Reporting Initiative (GRI), through press releases, company web sites and other media (Mata et al, 2018) In previous studies, the factors were identified to affecting the quality and level of environmental information disclosure such as: (1) Environmentally sensitive sectors (Gamble Associates, 1995 &; Fekrat et al, 1996; Deegan and Gordon,1996; Cormier and Gordon, 2001; Liu and Anbumozhi, 2008; Suttipun et al, 2012; Barbu et al, 2012) (2) Pressure from the policy, manager, environmental management agency, public (Walden and Schwartz, 1997; Neu et al, 1998; Rowe & Wehrmeyer, 2001; Suttipun et al, 2012; Li, 2014) (3) Publication information standard environment, the environmental accounting guidelines (Fortes & Akerfeldt, 1999; Gamble et al, 1995; Deegan and Rankin,1996; Suttipun et al, 2012; Jerry, 2015; Kaya, 2016) (4) The attitude of managers (Suttipun et al, 2012; Ngo Thi Hoai Nam, 2017) These studies are done in the context between the different countries in order to assess the extent of environmental information between countries or between industries in the same country The publication of environmental information is the next step of implementing environmental accounting So, the term environmental disclosure in the foreign studies is published information of environmental accounting In Vietnam, environmental accounting is researched of acadamic aspects, there are also a number of specific studies on the application of environmental accounting in the enterprises of oil and gas processing, processing of aquatic products These researchs only to record, measure and provide information about adequate environment for users - -2- In addition, these studies also identified the factors that impact the environmental information disclosure (Hoang Thuy Dieu Linh, 2013; Hoang Thi Bich Ngoc, 2017; Ngo Thi Hoai Nam, 2017) However, Hoang Thuy Dieu Linh (2013) reviews the publication of environmental information currently not meet the needs for information for the parties concerned From survey of researchers, the publication of environmental information in aquaculture enterprises in Vietnam are mainly qualitative and published according to the instructions of circular No 155/2015/TT-BTC or according to the global reporting initiative (GRI) This mean is not yet announced environmental informations from the results of environmental accounting as the study foreign The information disclosure of environmental accounting as a way to convey the message of the business with respect to environmental issues In industry sensitives for environment, the environmental information disclosure of environmental accounting is necessary in response to the pressure from the Government, investors, customers, the community is the objects affected by the operation of the enterprise, the factors were discovered from the previous research work and the extent of the influence factors to the disclosure of environmental accounting information in aquaculture enterprises in Vietnam or not, need to be verified So, I decide to choose the topic "The factorsaffecting the disclosure of environmental accounting information in the aquaculture enterprises Vietnam" as my thesis 1.2 Objectives and research questions Overall goal To determine status information disclosure of environmental accounting, influence factors and the extent of the impact of the factors to the disclosure of environmental accounting information in aquaculture enterprises Vietnam Specific goals Objective 1: To determine status information disclosure of environmental accounting in aquaculture enterprises Vietnam Objective 2: To identify the factors that impact on the - -3- disclosure of environmental accounting information in aquaculture enterprises Vietnam Objective 3: To measure the influence of factors impact on the disclosure of environmental accounting information in aquaculture enterprises Vietnam Study questions Question 1: In aquaculture enterprises Vietnam have disclosure of environmental accounting information? Question 2: The factors that would impact on the disclosure of environmental accounting information in aquaculture enterprises Vietnam? Question 3: The level of influence the factors that impact on the disclosure of environmental accounting information in aquaculture enterprises Vietnam? Research object - Object analysis: Information of environmental accounting is disclosured and the factors that impact on the disclosure of environmental accounting information of aquaculture enterprises Vietnam - Data collection object: is a person from the Board of Directors, a chief accountant or accounting charge and an officer in charge of the aquaculture business or enterprise environment in aquaculture enterprises Vietnam 4.The scope of research Timing: for seafood companies listed: information collected from financial statements and annual report the year 2017 For survey information collected from January to February 2018 Place: According to figures from the General Statistics Bureau, in the Mekong River Delta is the main aquaculture region of Vietnam with more than 70% of the production and the area should the author choose the Cuu Long River Delta collect information 5.Research method To make the thesis the author using mixed methods include qualitative methods and quantitative methods, in particular as follows: - -4- 5.1Qualitative research method First to use qualitative method to identify the factors that impact on the disclosure of environmental accounting information Through previous studies of environmental information and theoretical basis identify the factors that impact on the disclosure of environmental accounting information then perform in-depth interviews with experts on environmental accounting, expert on audit, manager in aquaculture enterprises After that, identify new factors and measure the factors that impact the disclosure of environmental accounting information in aquaculture enterprises Vietnam From this result, the author build a research model 5.2Quantitative research method Based on the model in step qualitative research, the author conducted surveys, collect data to analyze the level of influence the factors that impact on the disclosure of environmental accounting information in aquaculture enterprises in Vietnam Authors use factor analysis model to explore specific steps (EFA) as follows: evaluate the reliability of scales with Cronbach coefficient Alpha, then proceed to analyze the EFA, through the relevancy of the EFA extracted variance test, then rename for variables After redefining the variables, the regression analysis conducted by the regression coefficient test, testing the level of explanation of the model through the coefficient R2, analysis of variance (ANOVA) and the last is Spearman test 6.Thesis’s contribution 6.1 In terms of reasoning, academic - Use the institutional theory, legitimacy theory, resource dependence theory, the stakeholder theory as a basis for the interpretation of the information disclosure of environmental accounting in the aquaculture business Vietnam - Build model of impact factors to the disclosure of environmental accounting information in aquaculture enterprises Vietnam -Thesis research results added to data research on the factors impacting the enterprise information announced in Vietnam as well as in the developing countries, where the protection of the environment have not been properly concerned - -5- 6.2 In term of practicality - Help for accountant recorded information of environment accounting and disclosure information for stakeholder - Help for enterprises manager identify the role and benefits of disclosure of environmental accounting information to improve performance, the reputation of the business especially when involved in international markets - Help for policy makers devise policy on information disclosure in environmental accounting In terms of accounting law does not yet have regulations on environmental accounting, the studies provide information to planning agencies build and route in guidance information disclosure in environmental accounting consistent with characteristics of Vietnam and catch up with the development trend of environmental accounting international Structural thesis Chapter 1: Overview of previous studies Chapter 2: Theoretical basis Chapter 3: Research Methods Chapter 4: Research Results and discussion Chapter 5: Conclusions and Policy Implications Chapter 1: Overview of previous studies 1.1 Foreign studies 1.1.1 Environmental accounting -Environmental accounting occurs in the early 1970s, the first stage called social accounting and environment Mathews (1993, p 64)as: Voluntary disclosures of information, both qualitative and quantitative made by organizations to inform or influence a range of audiences The quantitative disclosures may be in financial or non-financial terms - Concepts of Environmental accounting from studies by Gray et al (1993), Schaltergger et al (2000), Bartolomeo et al (2000), Yakhou et al (2003), MOE (2005) 1.1.2 Disclosure of Environmental accounting information Disclosure of environmental information is the disclosure of environmental accounting information in the balance sheet, the statement of income and Notes to the financial statements The - -6- information to be disclosed includes environmental costs, environmental assets, environmental liabilities (Senn, 2018) 1.1.3 Factors affecting the disclosure of environmental accounting information Typical studies for this group include studies by Gamble et al (1995), Hackston & Milne (1996), Frost and Wilmshurst (1996), Fekrat et al (1996), Deegan & Gordon (1996), Deegan & Rankin (1996), Adams et al (1998), Deegan et al (2000), Cormier and Gordon, (2001), Liu & Anbumozhi (2008), Suttipun & the (2012), Bhattacharyya (2014), Jerry (2015), Kaya (2016) 1.2 Research in the country 1.2.1 The studies on environmental accounting in business including the EA and the EMA were conducted by Trinh Hiep Thien (2010), Hoang Thuy Dieu Linh (2013) 1.2.2 For study on the application of environment in specific enterprises such as petroleum processing and seafood processing by Hoang Thi Bich Ngoc (2017), Ngo Thi Hoai Nam (2017) 1.2.3 Researches on factors influencing the disclosure of information on environment: Including studies by Pham Duc Hieu et al (2010); Hoang Thi Bich Ngoc (2017); Ngo Thi Hoai Nam (2017); Trinh Hiep Thien (2010), Hoang Thuy Dieu Linh (2013), Nguyen La Soa et al (2018) 1.3 A review of the researches Through analysic of previous research, the author reviewed content as follows: (1) Environmental information is disclosured the information of environmental accounting through the annual report, the social responsibility report, sustainable development reports or environmental statements independently The foreign research use the term environmental information disclosure to imply is the disclosure of information about the environment when making environmental accounting For research in Vietnam, announced the environmental information includes information relating to the environment as defined, not results from the implementation of environmental accounting (2) Environmental information is provided in the form of quantitative, qualitative; financial or non financial - -7- (3) The content of information is provided depends on the regulations on environmental information disclosure every country, or according to the guidelines of the GRI (4) Assessment of extent of environmental information disclosure through the page number, from being published or number of items published in total according to regulations/guidelines combined with grading when information presented in the form of quantitative, qualitative or finance, non financial (5)The factors that impact the environmental information disclosure Developed countries have applied environmental accounting and rules on disclosure of information environment: the research towards the factors impacting the level of publication/quality of environmental information disclosure or the study of the relationship between the industry business, corporate scale, profit, environmental efficiency with environmental information disclosure For the developing countries, environmental accounting is still new,theseresearch has published environmental information or not or why published or not published or any factors that influence the level of environmental accounting information disclosure 1.4 Gap in research Firstly, there are quite a number of foreign research about factors that impact the accounting information announcement environment, analytical methods are mostly graded disclosure then regression analysis to examine the degree of correlation between the factors to dependent variable However, this research was done in the context of developed countries Secondly, There are many differences in results of factors impact on the disclosure of environmental accounting information in different countries, at least in different times, in different industrial areas Thirdly, Vietnam is developing country Environmental accounting is still new and have no guidelines for Environmental accounting The publication of environmental information is primarily qualitative and published according to the instructions of circular No 155/2015/TT-BTC or according - -8- Table 2.4.Factors influencing the disclosure of information and the relationship with relevant background theories Or der - Factors Pressure (policy, management, environmental management, public) tandards for Environmental Information Disclosure / Environmental Guidelines Sensitive environment Background theory Institutional theory Legitimacy theoryStakeholder theory Resource dependency theory Institutional theory Legitimacy theoryStakeholder theory Resource dependency theory Resource dependency theory Company size Listed abroad Institutional theory Useful for users Stakeholder theory Improve the competitive ability The image of Previous research by the author Walden & Schwartz (1997); Neu et al (1998); Rowe & Wehrmeyer (2001); Suttipun et al (2012) Li (2014) Fortes & Akerfeldt (1999); Gamble et al (1995); Deegan & Rankin (1996); Suttipun et al (2012); Jerry (2015); Kaya (2016); Hoang Thuy Dieu Linh (2013) Barbu et al (2012; Gamble et al (1995)’ Fekrat et al (1996); Deegan & Gordon (1996); Cormier & Gordon (2001); Liu & Anbumozhi (2008); Suttipun et al (2012) Hackston & Milne (1996); Liu & Anbumozhi (2008) Hackston & Milne (1996) Wilmshurst (1996); Rowe & Wehrmeyer (2001); Suttipun et al (2012) Fortes & Akerfeldt (1999) the Deegan et al (2000) -10- 10 11 12 company Legitimacy theory Accounting attitude Stakeholder theory Managerial attitude Monitor the implementation of remedial measures after environmental violations Financial resource Legitimacy theory Stakeholder theory Deegan et al (1996); Suttipun et al (2012) Suttipun et al (2012) Hoang Thuy Dieu Linh (2013) Deegan (1996) & Suttipun et al (2012) Chapter 3: Research Methods The study was designed in two stages: Stage 1: Qualitative research Step1: Summarize previous studies on environmental information disclosure identifying issues that have been studied before and confirming differences in information disclosure Step 2: Collection of environmental information published in the annual report, financial statements of aquaculture enterprises listed to assess the status of environmental information disclosure This result is the basis for discussions with experts to identify factors that affect the publication of environmental information Step 3: In-depth discussion with experts who are knowledgeable about CIS, representatives of auditing experts and representatives of aquaculture enterprises to identify factors and factors that affect the impact factors Disclosure of environmental information at aquaculture enterprises in Vietnam From that, the author presents a model of factors influencing the publication of environmental information at aquaculture enterprises in Vietnam Stage 2: Quantitative research Step 4: Based on the research model in stage 1, the author conducted survey using survey questionnaire then coded data, clean data Step 5: The author uses the exploratory factor analysis (EFA) model as follows: Assess the reliability of the scale using the - -11- Rankin Cronbach Alpha coefficient, then perform the EFA analysis, The appropriate qualification of the EFA, covariance testing, then renames the variables After redefining the variables, conduct regression analysis by examining the regression coefficients, verifying the level of interpretation of the model through the adjusted R2 coefficient, analysis of variance (ANOVA) to verify the suitability of the model and finally test the variance of the residual constant with the Spearman test Chapter 4: Research Results and discusssion 4.1 Current state of environmental information dissemination by Vietnamese aquaculture enterprises - No EA information is presented in the B/S and P/L - There are EA information presented on notes of income staments in some enterprises 4.2 Qualitative research results Benefits of environmental accounting Pressure from government, importers, investors, financial institutions, communities To guide the implementation of environmental accounting Attitude of managers the disclosure of environmental accounting information in aquaculture enterprises Vietnam Knowledge of environmental accounting Financial resources for implementing environmental protection solutions Supervision of environmental protection solutions in enterprises Figure 4.1 Model factors affecting the disclosure of environmental information in aquaculture enterprises Vietnam - -12- 4.3 Results of quantitative research 4.3.1 Measure the factors affecting the disclosure of environmental information at aquaculture enterprises in Vietnam - For independent variables: Evaluate the reliability of scale through seven factor from 25 observed variables After removed variables the results have 23 variables observed initially grouped into 06 groups with the total variance value extracted = 74,891%> 50%: satisfactory; It can be said that these six factors explain 74.891% of the variance of the data - For dependent variables: The results show that the four observed variables were grouped into one group Total value of variance = 68,956%> 50%: satisfactory; It can be said that one factor explains 68.956% of the variance of the data - Renamed variables: From the extracted results, there are factors (23 variables) affecting the disclosure of environmental accounting information of aquaculture enterprises in Vietnam Merge variable the financial resources for implementing the environmental protection measure and the attitude of the environmental protection manager into a group The author decides to use seven observation variables grouped together into a new variable named "Attitude of managers of environmental protection" Measurement variables include four measurement variables for managers' perception of environmental protection and three variables for the budget supporting environmental protection 4.3.2 Analysis of regression models - To test the significance of the regression coefficient: The sig value of the independent variables is less than 0.05 Thus, it is possible to assert that the independent variables included in the model are statistically significant, with a significance level of α = 5%, which can explain the variation of F_CBTT - Verification of the level of interpretation of the regression model: R2 = 0.646> R2 adjusted = 0.631 means that the dependent variable is explained 63.1% by the independent variable - ANOVA: An ANOVA analysis table with sig = 0.000 indicates that the regression model is consistent with the data - -13- set obtained, the variables included in the statistically significant level of significance % This model is therefore suitable for testing these hypotheses -Heteroskedasticity: The results show that sig of correlations between ABSRES and independent variables are greater than 0.05, so that the residual variance is homogeneous, assuming constant variance is not violated Variab le code Independent variable Absolut e value % Impact order Beta F_AL The pressure from the Government, investors, importers, the financial institutions, the community about environmental information 0,171 13,5 F_LI The benefit when implementing environmental accounting 0,169 13,3 F_HD Instructions implementing environmental accounting 0,186 14,6 F_KT Level of understanding about accounting's environment accounting 0,207 16,3 The supervision of the authorities F_GS with regard to the measures of environmental protection in enterprises 0,346 27,2 F_UH NQL Attitudes supportive of the Manager on the protection of the environment 0,192 15,1 Total 1,271 100 4.4 Compare and discuss research results 4.4.1 Compared with previous studies 4.4.1.1 Factors affecting the disclosure of environmental information in aquaculture enterprises Vietnam There were 9/12 factors from the previous studies confirmed in this study These are the policy pressures, community; Benefits of Environmental accounting Information Disclosure Guideline;Three factors including: useful for users of - -14- information, enhancingcompetitiveness, image of the company confirmed in this study and grouped together in the factor of benefits in implementing the environment he attitudes of managers and financial resources for implementing environmental protection measures are grouped into one factor that is the attitude of the manager; The monitoring of the implementation of remedial measures after environmental violations is also confirmed, but the content includes monitoring when enterprises operate and after the violation of business; The last factor that belongs to the accounting is also confirmed, but added content not only the attitude but also the ability to implement the publication of information technology 4.4.1.2 On the factors that measure the factors affecting the disclosure of environmental information in aquaculture enterprises Vietnam This research identified 23 variable observations measuring impact factors and observing variables measuring the publication of environmental information at aquaculture enterprises Vietnam Previous studies have identified the impact factors but have not identified the variables for these factors In Tables 2.4 and 4.28, the benefit variable for implementing EA inherited three factors from the previous study, making the remaining observation a new one from the study Chapter 5.Conclusions and policy implications 5.1 Conclusions 5.1.1 On the environmental accounting information disclosure of the aquaculture business in Vietnam The research results showed that, on the balance sheet and Income statement does not have any information on environmental accounting The information about the pledge, statement of policy, measures to protect the environment or ensuring the practice of advanced aquaculture was published in the annual report Some of them business have information about investments for implementation of environmental management systems such as the construction of the feed, waste treatment systems, aquaculture, advanced process, the environmental liabilities such as tax charges, fees, compensation, pay for the environmental management - -15- system.These information is disclosured in annual report or Notes to the financial statements The information is mainly qualitative, no quantitative information about the value of the investment assets, liabilities, income, environmental costs has yet to be determined through the accounting report 5.1.2 About the results of the impact factor to the disclosure of environmental accounting information in aquaculture enterprises Vietnam Factor analysis results explore has identified six research model factors in order of diminishing impact as follows: (1) The supervision of the authorities with regard to the measures of environmental protection in enterprises (2) Level of understanding about accounting's environment accounting (3) Attitudes supportive of the Manager on the protection of the environment (4) Instructions implementing environmental accounting (5) The pressure from the Government, investors, importers, the financial institutions, the community about environmental information (6) The benefit when implementing environmental accounting The factor has been inherited from the previous research and develop more specific content in the context of research in aquaculture enterprises in Vietnam The greatest contribution of the study is to build models of the impact factor and the observed variables measuring the levels of influence of these factors impact on the disclosure of environmental accounting information in aquaculture enterprises Vietnam 5.2 The policy implication 5.2.1 Strengthen the supervision of the State Agency on environment protection measures The research results showed that compliance with the law on the protection of the environment in aquaculture are reflected through environmental reporting system, the reporting of environmental impact assessment However, the fact the implementation according to the commitments in the environmental protection plan are limited Some businesses did not operate waste processing systems as committed Therefore, the authorities should improve the management system, the - -16- investment to upgrade the facilities, the equipment for the systems of management, control of environmental pollution; perfecting the system of warning and environment risk of fisheries at the same time capacity building training for staff and management, environmental pollution control Besides the need to strengthen inspection, Inspector for the input factors of production such as: food, medicines, chemicals and Biologicals Need coordination between the units of the Ministry of agriculture and rural development and the Ministry of agriculture and rural development with the Ministry of natural resources environmental & to check, inspect the waste discharge activities from the production facility In particular, sanctions measures in violation of the environmental sector in aquaculture also need to consider the level of influence to take appropriate enforcement measures sufficient to require implementation of environmental protection measures have committed Next, refine on Law the protection of the environment in aquaculture, ensuring the Law system to bring effectiveness and deterrent, the important thing is the awareness of the responsibility education, the obligation to protect the environment of the business The environmental criteria should ensure compatibility with international practices 5.2.2 Accountants need to be trained, guided implementation of environmental accounting "The level of knowledge of the environmental accounting of accountants" stand the second of the factors affect the information disclosure of environmental accounting in aquaculture enterprises in Vietnam In Vietnam, environmental accounting has not been guided It has not be taught to students in university Environmental accounting is known only from the academic research for students, research students, research articles Therefore, to be able to train on environmental accounting requires a lot of time to issue regulations of the State on environmental accounting and the training programs of the University In this study, the author proposed accounting based on the characteristics of operation in enterprise organizations apply environmental accounting to credited, measurement of - -17- information related to environmental activities, from which the publication of environmental accounting information the request of the parties concerned Derived from the resolution of environmental issues in enterprises from which determine the solution perform, noting the information on financial and material according to the accounting perspective The personal, relevant departments must participate in and provide information as well as solutions to the problems related to the proposed system The specific content of the proposal as follows: (1) Identify business problems related to environmental issues (2) Propose solutions to make environmental issues in business (3) The Organization recorded and measured the accounting object - Environmental assets Some objects are recorded as assets in the environment aquaculture business: + Materials, chemicals used to treat the environment + Tools, instruments used for environmental protection +Waste processing contamination equipment, processing equipment + The warehouse contained food, sanitary workers meet the prescribed standards - Environmental liabilities + Payable by law: includes costs to comply with environmental legislation such as the costs of training staff to manage the environmental management system, the costs of environmental monitoring, waste disposal costs, tax free environment fee + Payable related to remedial: the cost of cleaning up, cleaning the pond after manufacturing costs, ensure the health of its employees join seafood (insurance, health check) + The penalties due to non-compliance or incomplete compliance with current rules on the environment when aquaculture - -18- + Compensation (depending on the complaint, grievance): compensation for residents around the area of aquaculture due to water supplies, waste from aquaculture of the enterprise caused, compensation for workers due to be affected from drug use, chemicals in aquaculture - Income benefits from the environment + Income from the sale of by-products, wastes + Income from the sale of food, including sewage sludge, food container from the process dredged pond + The revenues from the State's subsidies for investments made by standard VietGAP/Gloabal GAP +The fare sale by selling at a higher price from the implementation of advanced process, foster - Environmental costs The cost of the environment in the aquaculture business includes: + The cost of raw materials, product creation: including the costs of drugs, fisheries, animal feed mill + The cost of materials not product creation: the cost of medicines, chemical water treatment + Handling costs and waste control: depreciation, cost of fertilizer lime sedimentation tank clean water sources, water treatment process in aquaculture, cost the manager made the pond management, responsible for the implementation of the standard certification + The cost of prevention and environmental management: The costs incurred for the purpose of prevention and environmental management + Research and development costs: are the costs for research and development activities related to the environment and environmental protection, which is the cost for the development of products using materials research costs, the system of machinery, new equipment to reduce waste, the cost of researching new solutions to improve management methods, - -19- + Less tangible costs: business should have expected for this due to cost in the process of raising business for the operation of polluting the environment around the compensatory aid as the cost to households around the use of clean water because the water source contaminated (4) To set the report on environmental accounting for disclosure of information for the object using the information 5.2.3 Managers need to steer the department implemented environmental accounting, strengthen awareness for workers on the protection of the environment in aquaculture The attitude supportive of manager have a great impact to the enterprise information disclosure EA If managers are aware of the importance and benefits of environmental accounting, They will: -Strengthen advocacy activities on the protection of the environment in the region of aquaculture in order to raise the awareness of employees in order to change the behavior to produce safe food associated with environmental protection -Guides or organized for the staff participating in seminars/training training guide and share management experience, the Environmental Protection region - the study applied the technology of waste water treatment, solid waste business suit - Promote the application of the technology of water-saving farming, food waste discharge restrictions, ensure biosafety and environmental protection 5.2.4 Issued regulations, instruction apply environmental accounting If the environmental accounting is issued, the enterprises will presented the report and clearly disclosure information Therefore, the necessary to are created the legal framework for applying environmental accounting The countries has implemented environmental accounting have those regulations, guidelines for environmental accounting although voluntary but are studied, and developed to be implemented extensively With integration and the global environment problems, the accounting information provided to the user as more - -20- meaningful information when the information on the environmental impacts and the measures that businesses make to protect the environment, investments, costs and benefits from the environment to be published When issuing regulations, instructions for performing environmental accounting will have a positive impact on the ability to implement environmental accounting and accounting information announcement environment for stakeholders 5.2.5 Environmental information needs from the Government, investors, importers, community creates the pressure forcing the aquaculture business to announce environmental accounting information All the external stakeholders outside the business usually needs the information but in different levels The parties include: (1) The Government, they are interested in the environmental protection problems of aquaculture businesses because it significantly affects the quality of the nation's environment Accounting information of enterprises have an important role in providing financial information relating to environmental issues serves to manage the aquaculture industry Environmental accounting information in enterprises will have important implications in the statistical data about the environmental protection measures that businesses have announced and implemented, has put out the base environmental policy (2) for the investors, business partners, and financial institutions they are funding for businesses, their advantage depends on the results of business activities When there are environmental risks will significantly influence to the benefit of the investors Therefore, the needs of environmental accounting information to help them assess the real situation and risks (3) for consumers, local residents and the non-governmental organizations on the environment: they are interested in issues such as management of toxic wastes from aquaculture, pollution of water resources from sewage water, products that meet environmental criteria and responsibility of the business before it issues (4) for the audit organization using environmental accounting information of the enterprises to ensure an auditor objectivity, - -21- integrity and credibility of environmental accounting information in order to ensure legal compliance of the financial statements prior to published in order to protect the interests of the parties concerned Environmental accounting information should be published for this object in the form of EFA information including: environmental assets, environmental liabilities, revenues, costs, environment environmental policy the business done 5.2.6 Fully aware of the benefits of implementing environmental accounting Fully aware of the benefits and costs when implemented environmental accounting will determine the disclosure of environmental accounting information or not If have regulation, the disclosure of enterprises will help business good compliance with law, business image will increase The supportive of consumers and people around the region of aquaculture will be the benefits that businesses get from transparency in information disclosure in environmental accounting Form of the information published can the commitment, policies, environmental protection measures with regard to the public interest is however the object as investors, business management, auditing, then the information published should reflect the data about physical and currency This is useful, for their decisions when investing in the business One of the pillars of sustainable development, environment for business survival and development must ensure the harmonization of existing benefits and the ability to grow in the future Therefore, the investment for environmental protection also benefits comply with the law, to create beautiful images before the use of community resources effectively is an important issue Implementation of environmental accounting that will help businesses analyze production processes in the period would be wasted inputs or ineffective to take measures to improve Therefore, to make accounting information disclosure and the environment, businesses need to keep track of information about matter and currencies before and after implementation of the measures, the investment for the environment to evaluate the full benefits - -22- 5.3 Research limitationsand subsequent research The results answer the three questions research has solved the research objectives Firstly: In aquaculture enterprises Vietnam have not yet announced the environmental accounting information that only initially announced for environmental information according to the instructions of circular No 155/2015/TT-BTC Secondly: there are six factors that impact to the disclosure of environmental accounting information in the aquaculture enterprises Vietnam Thirdly: the degree of influence of these factors to the disclosure of environmental accounting information in aquaculture enterprises Vietnam: (high to low) (1) Supervision of the authorities with regard to the measures of environmental protection in businesses (2) Knowledge of environmental accounting (3) Attitudes supportive of the manager on the protection of the environment (4) Guide the implementation of environmental accounting (5) Pressure from the Government, importers, investors, financial institutions, the community on environmental information (6) Benefit of environmental accounting However, this thesis is still limitations It need to be conducted for the research in the future: Firstly, the survey sample is only made with respect to aquaculture companies in the delta of Mekong River Secondly, the research results initially measure the impact of these factors to the disclosure of environmental accounting information without considering the relationship between the factors together - -23- LIST OF ARTICLES Lam Thi Truc Linh (2017) Environmental Accounting - The necessity to apply to aquaculture enterprises Accounting & Auditing Review, 6/2017 Lam Thi Truc Linh (2017) Factors influencing the disclosure of environmental accounting information Accounting & Auditing Review, 10/2017 Lam Thi Truc Linh et al (2017) Research on applying environmental management accounting in Pangasius farming enterprises in Vinh Long province Scientific Research Project at Vinh Long college Economic Finance Lam Thi Truc Linh et al (2018) Factors affecting the disclosure of environmental accounting information in aquaculture enterprises Journal of auditing studies, 4/2018 Lam Thi Truc Linh et al (2018) Research and application of environmental accounting in aquaculture enterprises province Vinh Long Scientific Research Project at Vinh Long province - -24- ... when implementing environmental accounting 0,169 13,3 F_HD Instructions implementing environmental accounting 0,186 14,6 F_KT Level of understanding about accounting''s environment accounting 0,207... implementing environmental accounting So, the term environmental disclosure in the foreign studies is published information of environmental accounting In Vietnam, environmental accounting is... understanding about accounting''s environment accounting (3) Attitudes supportive of the Manager on the protection of the environment (4) Instructions implementing environmental accounting (5) The pressure