Environmental Management Systems as one of the Sustainability Development Instruments; a Position and the Role of Management and Financial Accounting

The paper defines enterprise environmental management systems (EMS) to formulate the positions and functions of environmentally oriented management accounting (EMA) subsequently. It is accounted for, that EMA plays very important role during preparation and installation of EMS and – moreover – that it has a crucial role during operating of the system. Strength of this system lies in its orientation on value and physical information not only ex post, but ex ante as well. Financial accounting is still not yet oriented on presentation of information with the impact on sustainable development, even though its conceptual framework does not hamper it.