Asian Journal of Advances in Research

The current study focused on forest accounting: options, strategies and challenges in Nigeria from the theory of natural resource perspective. Deforestation poses major threat to the Nigerian forest even though forests store a relevant portion of the global natural resource and provide a vast amount of ecosystem services, economic goods and social amenities to society. The study employed a survey research design. The paper framed two assumptions for testing. The one-sample t-test was employed in validating the hypotheses of the study. The study found a significant adoption and utilization of measurements of accounting for forestry in Nigeria. The study also found a significant use of analytical techniques to improve accountants’ performance in the accounting for accounting for forestry in Nigeria. Finally, the study also found a worthy association between forest accounting and sustainable development. Consequently, the study recommends amongst others that there should be a creation of Forest Reserves and that stringent legislation against deforestation be formulated as well as proper enforcement to serve as a deterrent to defaulters.