The problem of resource and environment requires human to strengthen the management of natural resources. In the Third Plenary Session of the 18th CPC Central Committee, balance sheet of natural resources is proposed. The fundamental purpose is to strengthen the accounting and management of natural resources, and to realize the sustainable development of resource, environment, economy and society. The purpose of preparing balance sheet of natural resources is to establish a system of natural resources accounting which accounts for changes in natural resources by compiling reports and clears the resources and environmental costs of local economic and social development. The system of natural resources accounting can be used to restrict the development view of local governments at all levels, improve the system of performance assessment, explicit the responsibility of local governments, and delineate red lines of natural resources development and utilization. Balance sheet of natural resources is an important start for the Ministry of Natural Resources to improve the management of natural resources. In this paper, we review the exploration of natural resource accounting and balance sheet of natural resources and the related research results both at home and abroad. Based on the important tasks of the current natural resource management and the responsibilities of the Ministry of Natural Resources, this paper studies the production theory, the resource science theory and the accounting theory related to balance sheet of natural resources. Based on the above research background and requirements of the balance sheet of natural resources, the main contents of balance sheet of natural resources are established, the key concepts of natural resource asset, liability and equity are analyzed, and the equities of natural resources are divided on the basis of the carrying capacity of resources and environment and related plans. On the basis of the related research results of natural resource balance sheet, we think that the balance sheet of natural resources is not only a report presentation, but also a suitable accounting system. We put forward the framework of balance sheet of natural resources and its accounting process and take the land resources as an example to demonstrate the process. This paper analyzes the compilation of balance sheet of natural resources and its accounting process. The main result of this study is the establishment of the system of “confirmation, measurement, record and report” of natural resources accounting based on double-entry bookkeep. Based on the equation of “assets = liabilities + equity”, the assets, the liabilities and the equities of natural resources are displayed. Combined with the research results of current natural resource research, it will be possible to further develop the special balance sheet of natural resources, establish the standard natural resources accounting subjects, and construct the management information system of natural resources accounting.

The problem of resources and environment has become a constraint of economic and social development. It is an important measure to set up the Ministry of Natural Resources and strengthen the overall management of natural resources. The compilation of natural resource accounting and the natural resources balance sheet is the basic work of the overall management of natural resources. At present, there have been many research achievements on natural resources accounting and balance sheet compilation, but the basic theory research and practice methods are still in the primary stage of research and it is needed to further strengthen the theoretical basis and scientific methods. Based on the theory of double accounting unit in accounting theory, this paper studies the theory of production and material circulation of natural resources liabilities and equities, and puts forward the standard of natural resource liability and equity based on resource environment carrying capacity, resource function planning and ecological red line. The natural resources balance sheet and related balance accounting are designed based on this standard. Natural resource assets refer to the sum of natural factors that can bring direct or indirect benefits to human beings. They include not only the material and environmental factors that directly participate in the economic and social cycle, but also the natural factors that indirectly bring ecological service value to human beings by participating in the ecological cycle. The equities of natural resources assets are divided into the ecological equities of natural resources and the economic equities of natural resources, and this classification has its ethical basis of ecological civilization. The liabilities of natural resources is due to excessive depletion of resources, environmental pollution and ecological destruction, that is, there are both human and natural factors. They are the economic cost to compensate for the sustainability of ecosystems. The above definitions of asset, liability and equity provide us a logical basis for designing a logical balance sheet of natural resources. The purpose of this paper is to design a reasonable liability and equity account based on the natural resource accounting and the natural resources balance sheet with double entries. It provides a scientific theoretical basis for the compilation of natural resources accounting and balance sheet.

The equilibrium relationship of natural resources balance sheet is the theoretical basis for compiling natural resources balance sheet and developing natural resources accounting. Because of the disagreement between the awareness of natural resources property and value, there are different understandings of balance relationship of natural resource balance sheet, which leads to the long-term dispute on the compilation of balance sheet of natural resources. The basic understanding of SEEA-2012’s “beginning + increase - decrease = end” is consistent. However, there is much controversy over the framework of the natural resources balance sheet. The researchers of natural resource believe that the natural resource balance sheet should be compiled based on the “early period + increase - decrease = end of term” of SEEA-2012, but this report cannot reflect natural resource liabilities, so it cannot be called the balance sheet of natural resources in strict sense and should be called the statistical report of natural resources. Many scholars in the accounting field believe that the balance sheet of natural resources should be compiled based on “assets = liabilities + rights and interests” and use complex accounts. However, because of the lack of understanding of natural resources, the concept of “asset liability = net assets” proposed by some scholars is also lack of practical significance. It is also impossible to design such an accounting system with double-entry bookkeeping. In this paper, based on the cross research of resource science and accounting theory, the framework of natural resource balance sheet is constructed with the property and value attributes of resources. The equilibrium relationship of the balance sheet is clarified, and the static balance relationship and dynamic balance relationship of natural resource balance sheet are studied. The static balance relationship of the natural resources balance sheet based on the double-entry accounting is generally expressed as “assets = equity”, which is the theoretical basis of debit and credit accounting; the dynamic balance relationship is expressed as “beginning + increase - decrease = end of period (beginning - decrease = end - increase)” and “income - output = surplus”, which is the theoretical basis for the period accounting. The paper further analyzes the equations of natural resources accounting system and the framework of natural resources balance sheet based on double-entry accounting.

“Preparing natural resources asset balance sheet and auditing natural resources assets on departure of leading cadres” is one of the major decisions of the Third Plenary Session of the 18th CPC Central Committee, as well as an important decision that can promote China’s ecological civilization construction. The balance sheet of natural resources is a report that states the stock of natural resources and the change of the stock in a certain time period.Based on the study of the connotation of the concept of natural resources balance sheet, this paper analyzes the method of calculating the physical quantity and value of natural resources and proposes the conversion table between them. Finally, the paper studies the compilation style of natural resources balance sheet and proposes the design scheme. The study in this paper provides a basis for applying of natural resource balance sheets.

According to the design scheme of natural resource balance sheet proposed by the author in previous study, this paper takes Zhuxi County, Shiyan City, Hubei Province as a case study and compiles the substance accounting table and value accounting table of Zhuxi County respectively by using statistic methods, market price law, alternative market law, willingness assessment law, etc., and the relationship between the changes of natural resources and regional economic development are analyzed. The results are as follows: 1) The total amount of forest and characteristic resources in Zhuxi County is increasing year by year. The industrial water consumption is decreasing year by year. The efficiency of industrial water is increasing continuously, while the resident living water keeps at a consant level. The water usage for urban public and ecological environment is increasing annually and the trend of agricultural water consumption remains constant. Water consumption is mainly affected by precipitation and other natural conditions. In the future, developing modern agriculture and improving agricultural water efficiency are necessary. In addition, land resources are in the trend of converting to construction land. The government of Zhuxi County should control construction area in a reasonable range. 2) The value of natural resources is in a relatively stable state which shows the natural resources are not over-consumed, and the value of land resources is the highest. The influence of human factors on the value of forest resources is positive and the total value is increasing. The influence of human factors on the value of water resources is negative. 3) With the increase of GDP in Zhuxi County, the total amount of natural resources has not reduced and remains relatively stable. The effect of human factors on the total value of natural resources is positive.