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Full Cost Accounting (FCA), and the methodology that scientifically supports it, Life-Cycle Assessment (LCA), is rapidly developing as a set of accounts that effectively links aspects of manufacturing processes to the health of ecosystems. LCA is a “cradle to grave” accounting for products that recognizes the environmental impacts of all life-cycle stages. It is the valuation and interpretation phases of LCA that interface with FCA. FCA attempts to objectively interpret LCA information for strategic decision making by converting it to a common monetary base. FCA will be one of the practical tools to achieve step-wise incremental change toward sustainable development. LCA/FCA has already become an integral part of a market-incentive approach to natural resource conservation. We examine the background, benefits, and uses of LCA and FCA.