Impact of Industry 4 0 on Environmental Management Accounting
Impact of Industry 4 0 on Environmental Management Accounting

Author(s): Bojana Novićević Čečević, Ljilja Antić, Jovana Milenović
Subject(s): Social Sciences, Economy
Published by: Udruženje ekonomista i menadžera Balkana
Summary/Abstract: The development of industry and technology has brought about changes both in company operations and in the business environment operations. Industry 4.0 is a digital revolution that is based on innovative technological solutions and in which technology occupies an important place in the production process, business entity, but also in the lives of individuals. It encompasses new technologies the implementation of which causes costs, requires time, but also requires knowledge. In accordance with the Industry 4.0 requirements, changes in environmental management accounting ensued, because today most countries strive to achieve a healthy life and do business in a healthy environment. Environmental management accounting allows collecting data and making business decisions that will have an impact on company performance and environmental performance. The aim of this paper is to identify the advantages and disadvantages of Industry 4.0 as well as the impact of Industry 4.0 on environmental management accounting.

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