of information for internal decision making: 1) Physical information on the use, flows and fates of energy, water and materials (including wastes) and 2) Monetary information on environmentally related costs, earnings and savings." As part of an environmental management accounting project in the State of Victoria, Australia, four case studies were undertaken in 2002 involving a school (Methodist Ladies College, Perth), plastics manufacturing company (Cormack Manufacturing Pty Ltd, Sydney), provider of office services (a service division of AMP, Australia wide) and wool processing (GH Michell & Sons Pty Ltd, Adelaide). Four major accounting professionals and firms were involved in the project; KPMG (Melbourne), Price Waterhouse Coopers (Sydney), Professor Craig Deegan, RMIT University (Melbourne) and BDO Consultants Pty Ltd (Perth). In February 2003, John Thwaites, The Victorian Minister for the Environment launched the report which summarised the results of the studies. These studies were supported by the Department of Environment and Heritage of the Australian Federal Government, and appear to have applied some of the principles outlined in the United Nations Division for Sustainable Development publication, Environmental Management Accounting Procedures and Principles (2001). Environmental financial accounting is used to provide information needed by external stakeholders on a company's financial performance. This type of accounting allows companies to prepare financial reports for investors, lenders and other interested parties. Certified emission reductions (CERs) accounting comprises the recognition, the non-monetary and monetary evaluation and the monitoring of Certified emission reductions (CERs) and GHGs (greenhouse gases) emissions on all levels of the value chain and the recognition, evaluation and monitoring of the effects of these emissions credits on the carbon cycle of ecosystems. Companies specialised in Environmental Accounting NEMS AS Examples of software EHS Data's Environmental and Sustainability Accounting and Management System Emisoft's Total Environmental Accounting and Management System (TEAMS) NEMS's NEMS Accounter Examples of software as a service Greenbase Online Environmental Accountancy See also References Notes Footnotes Further reading Odum, H.T. (1996) Environmental Accounting: Energy and Environmental Decision Making, Wiley, U.S.A. Tennenbaum, S.E. (1988) Network Energy Expenditures for Subsystem Production, MS Thesis. Gainesville, FL: University of FL, 131 pp. (CFW-88-08) External links United Nations Environmental Accounting Green Accounting for Indian States Project Environmental MBA Degree Info Environmental Accounting in Austria (Information about environmental accounts, structure, methods, legal basis, scope and application) Environmental Management Accounting (EMA) Project , Victoria, Australia Environmental economics Sustainability metrics and indices Types of accounting