Impact of Industry 4.0 on Environmental Management Accounting

Bojana Novićević Čečević – Faculty of Economics, University of Niš, Trg Kralja Aleksandra Ujedinitelja 11, Niš, Serbia

Ljilja Antić – Faculty of Economics, University of Niš, Trg Kralja Aleksandra Ujedinitelja 11, Niš, Serbia

Jovana Milenović – Faculty of Economics, University of Niš, Trg Kralja Aleksandra Ujedinitelja 11, Niš, Serbia

7th International Scientific-Business Conference – LIMEN 2021 – Leadership, Innovation, Management and Economics: Integrated Politics of Research – CONFERENCE PROCEEDINGS, Online/virtual, December 16, 2021, published by the Association of Economists and Managers of the Balkans, Belgrade; Printed by: SKRIPTA International, Belgrade, ISBN 978-86-80194-54-7, ISSN 2683-6149, DOI: https://doi.org/10.31410/LIMEN.2021

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.

LIMEN Conference

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