The barriers to adapting accounting practices to circular economy implementation: an evidence from Ghana

Abstract

Purpose

The rapid development in the circular economy phenomenon raises the prospects of potential tension between the existing accounting practices and the principles of circular economy. This study, therefore, aims to investigate the barriers to adapting the current accounting practices to circular economy implementation.

Design/methodology/approach

The study uses exploratory qualitative study design, and semi-structured interviews were conducted among professional accountants in Ghana. Purposive sampling technique was used to recruit respondents, and data saturation was achieved with 45 respondents. Data collection and analysis were undertaken concurrently and emerging themes were investigated as the study progressed.

Findings

The results indicate that there are several barriers to adapting the current accounting practices to circular economy implementation. The specific barriers as revealed in the data analysis are: accounting reporting barriers, financial/economic barriers, technological barriers, managerial/behavioral barriers, organizational barriers and institutional barriers.

Originality/value

The study responded to a global call by coalition circular accounting to identify and potentially over accounting related challenges that impedes the transition to circular economy. The study’s originality stems from the fact that it explores the issue from a developing country perspective, which has received limited attention in the extant literature.

Citation

Kwarteng, A., Agyenim-Boateng, C. and Simpson, S.N.Y. (2023), "The barriers to adapting accounting practices to circular economy implementation: an evidence from Ghana", Journal of Global Responsibility, Vol. 14 No. 1, pp. 1-26. https://doi.org/10.1108/JGR-12-2021-0102