Abstract
This paper applies the grey forecasting model to forecast the green accounting of Taiwan from 2002 to 2010. Green accounting is an effective economic indicator of human environmental and natural resources protection. Generally, Green accounting is a type of accounting that attempts to factor environmental costs into the financial results of operations. This paper modifies the original GM(1,1) model to improve prediction accuracy in green accounting and also provide a value reference for government in drafting relevant economic and environmental policies. Empirical study shows that the mean absolute percentage error of RGM(1,1) model is 2.05% lower than GM(1,1) and AGM(1,1), respectively. Results are very encouraging as the RGM(1,1) forecasting model clearly enhances the prediction accuracy.
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