There is a growing concern among all sections of the society and also among different stakeholders of corporate society about the need for conserving and protecting the environment. Hence, the thinking is gaining ground about the need for each corporate citizen to account for the extent to which it has caused environmental degradation and also the efforts made by the corporate entity towards the environmental protection and welfare. In this background, environment accounting is receiving importance world over. Even in India, a few guidelines have been issued by the authorities. However, the current regulations are not adequate and therefore, there is a diversity in the environmental accounting and disclosure practices. Further, two important powerful players in this regard are the academicians and the professionals. In this backdrop, the present paper makes an attempt to analyze the opinions of both the academicians and professionals about a few aspects of environmental accounting and practices.