scholarly journals Integrated Reporting as a Tool for Communicating with Stakeholders – Advantages and Disadvantages

2018 ◽  
Vol 35 ◽  
pp. 06004
Author(s):  
Iwona Matuszyk ◽  
Bartosz Rymkiewicz
Keyword(s):  
Comparative Analysis ◽  
Financial Reporting ◽  
Information Needs ◽  
Primary Source ◽  
Financial Data ◽  
Literature Analysis ◽  
Integrated Reporting ◽  
Main Interest ◽  
Advantages And Disadvantages ◽  
Wide Range

Financial and non-financial reporting from the beginning of its existence is the primary source of communication between the company and a wide range of stakeholders. Over the decades it has adapted to the needs of rapidly changing business and social environment. Currently, the final link in the evolution of organizational reporting, such as integrated reporting, assumes integration and mutual connectivity to both financial and non-financial data. The main interest in the concept of integrated reporting comes from the value it contributes to the organization. Undoubtedly, the concept of integrated reporting is a milestone in the evolution of organizational reporting. It is however important to consider whether it adequately addresses the information needs of a wide range of stakeholders, and whether it is a universal tool for communication between the company and its stakeholders. The aim of the paper is to discuss the advantages and disadvantages of the concept of integrated reporting as a tool for communication with stakeholders and to further directions of its development. The article uses the research methods such as literature analysis, the content analysis of the corporate publications and comparative analysis.

scholarly journals The Common Good Balance Sheet, an Adequate Tool to Capture Non-Financials?

2019 ◽  
Author(s):  
Christian Felber ◽  
Vanessa Campos ◽  
Joan Ramon Sanchis
Keyword(s):  
Organizational Performance ◽  
Financial Reporting ◽  
Common Good ◽  
Information Needs ◽  
Balance Sheet ◽  
Validity And Reliability ◽  
Integrated Reporting ◽  
The Common Good ◽  
Corporate Reporting ◽  
The Common

In relation to organizational performance measurement, there is a growing concern about the creation of value for people, society and the environment. The traditional corporate reporting does not adequately satisfy the information needs of stakeholders for assessing an organization’s past and future potential performance. Practitioners and scholars have developed new non-financial reporting frameworks from a social and environmental perspective, giving birth to the field of Integrated Reporting (IR). The Economy for the Common Good (ECG) model and its tools to facilitate sustainability management and reporting can provide a framework to do it. The present study is the first one that empirically validates such metrics on a sample of 206 European firms. Consequently, it allows knowledge to advance as it checks their statistical validity and reliability.

scholarly journals Reshaping Risk Disclosure through Integrated Reporting: Evidence from Italian Early Adopters

2017 ◽  
Vol 12 (10) ◽  
pp. 11 ◽  
Author(s):  
Francesca Manes-Rossi ◽  
Giuseppe Nicolo ◽  
Rebecca Levy Orelli
Keyword(s):  
Content Analysis ◽  
Financial Reporting ◽  
Information Needs ◽  
Bad News ◽  
Business Strategies ◽  
Risk Disclosure ◽  
Integrated Reporting ◽  
Early Adopters ◽  
Extensive Information ◽  
Different Dimensions

The purpose of this paper is to explore Integrated Reporting (IR) and risk disclosure (RD) and demonstrating the interconnection between business strategies and risk. Through a content analysis, the paper explores the management commentary and Integrated reporting of Italian companies at the end of 2015.The study reveals that many of the companies have embedded financial reporting into IR. We find extensive information about risks and opportunities, in relation to the management of the six capitals. The paper represents an investigation into risk disclosure in IR. It adds knowledge to the opportunity offered by IR in meeting stakeholder’s information needs, compared to traditional tools of corporate reporting.The results could be of interest both for legislator and standards setters, to bring them up to date with enhanced disclosure of risk and opportunities which IR offers with respect to the more traditional forms of disclosure.This is the first country-based study investigating risk disclosure provided through IR looking at three different dimensions: the metrics of RD (monetary or non-monetary); the outlook orientation (past, present or future) and the type of risk news (good or bad news). The results are relevant to detect how companies act and what can be done to improve risk disclosure.

scholarly journals HISTORY AND PRACTICE OF TECHNICAL METHODS OF THE INTERNATIONAL CURRENCY MARKET

2020 ◽  
Vol 1 (21) ◽  
pp. 12-21
Author(s):  
Andrii Syshchuk ◽  
Iryna Panasiuk
Keyword(s):  
Comparative Analysis ◽  
Moving Average ◽  
Technical Analysis ◽  
International Currency ◽  
Economic Cycles ◽  
Advantages And Disadvantages ◽  
Currency Market ◽  
Wide Range ◽  
Mathematical Approximation ◽  
The Individual

Introduction. Technical analysis is an assessment of the behavior of the international currency market over a period of time. Due to the unpredictability of the dynamics of the international currency market and the possibility of losses from the conducted transactions, the study of technical means becomes of particular importance and relevance. It is the comparative analysis that identifies the advantages and disadvantages of each of the methods in order to further formulate the most profitable trading strategy. The purpose of the article is a comparative analysis of the technical analysis methods used by analysts in today's international currency market; comparing the selected instruments of each method and determining the most effective ones. Results. Within the framework of this study three main methods of technical analysis of the international currency market were considered: graphic, method of mathematical approximation and theory of economic cycles. The individual instruments of each of the methods, such as «Japanese candlestick», simple moving average, the moving average convergence divergence (MACD), MACD histogram, Elliott waves, Fibonacci retracement levels are reviewed. A comparative analysis of the selected instruments is carried out on the basis of research of the specificity of each of them. Examples of graphs, indicators and histograms are given. It is identified that the main differences are the complexity of use (ie the use of mathematical computing and computer technology) and the type of strategy (short or long term). Common features of methods of technical analysis of the currency market are: the purpose of the analysis, the object of analysis and the influence of the factor «psychology of people». Conclusions. It is revealed that one can obtain the most accurate results in predicting the dynamics of currency quotations only by combining several methods simultaneously. Knowing the strengths and weaknesses of different technical analysis tools, you can use them to validate each other's signals. As a result of such tactics, the analyst will get more accurate indicators that will bring him a profit. The prospect of the research is to find the best strategic schemes using a wide range of technical tools for international currency market analysis.

scholarly journals A comparative analysis of the application of piezoelectric surgery and mechanical osteoperforation techniques in modeling an orbital decompression

2018 ◽  
Vol 11 (1) ◽  
pp. 10-18 ◽  
Author(s):  
Konstantin A Konovalov ◽  
Dmitriy V Davydov ◽  
Vitaliy Yu Roshchin
Keyword(s):  
Comparative Analysis ◽  
Diode Laser ◽  
Soft Tissues ◽  
Orbital Decompression ◽  
Surgical Equipment ◽  
Ultrasonic Scalpel ◽  
Advantages And Disadvantages ◽  
Bone Window ◽  
Piezoelectric Surgery ◽  
Wide Range

Currently a wide range of instruments for surgical procedures on the bony structures of the orbits is offered. Each of them has its advantages and disadvantages. Cutter causes less injury, in comparison with a chisel or an ultrasonic saw [15]. In using a drill during surgery there was an increase in temperature of bone edge of the opening above acceptable values [17]. The use of low frequency ultrasonic tools allows you to create holes in the bones of any desired size and shape with smooth edges [5, 11, 16, 20]. The disadvantages of this method include the heating of tool’s tip up to 140° during prolonged continuous action [6]. Thus, techniques using tools for formation of the bone window require further study and improvement. Aim: to compare surgical equipment for bone window formation in modeling an orbital decompression. Materials and methods. In an experimental study in vivo, 12 surgical interventions on the scapula on both sides were performed in 6 Chinchilla breed rabbits. On the right side, the formation of a bone window was carried out by the ultrasonic bone scalpel MISONIX, on the left side - by a drill. Results. It was found that during first 7-21 days there was more pronounced inflammation of soft tissues on the left side. At the same time, delayed proliferation and maturation of fibrous connective tissue was observed in comparison to the opposite side. Bone tissue inflammation and subsequent regeneration took place without significant differences on both sides. The experiment showed that the use of ultrasonic scalpel in flat bones creates less inflammation of surrounding tissues and the bone itself as compared to a diode laser. A.V. Kravchenko (2006) reports that, after exposure to a diode laser in an acute experiment there was a scalloped edge with an area of photocarbonization (charring) on the 7th and the 21st day; while the use of an ultrasonic scalpel did not create any signs of infiltrative inflammation, later on a nonspecific inflammation developed. Conclusion. Ultrasonic scalpel has a number of advantages when performing osteoperforation, such as time-saving during surgical procedure, control of the osteotomy process, less trauma to surrounding tissues during action and less pronounced inflammatory response of the wound during early postoperative period. (For citation: Konovalov KA, Davydov DV, Roshchin VY. A comparative analysis of the application of piezoelectric surgery and mechanical osteoperforation techniques in modeling an orbital decompression. Ophthalmology Journal. 2018;11(1):10-18. doi: 10.17816/OV11110-18).

scholarly journals Sustainability, Popular and Integrated Reporting in the Public Sector: A Fad and Fashion Perspective

2018 ◽  
Vol 10 (9) ◽  
pp. 3112 ◽  
Author(s):  
Lucia Biondi ◽  
Enrico Bracci
Keyword(s):  
Comparative Analysis ◽  
Public Sector ◽  
Financial Reporting ◽  
Sustainability Reporting ◽  
Preliminary Evidence ◽  
Specific Reference ◽  
Public Accountability ◽  
Integrated Reporting ◽  
The Public ◽  
Italian Context

This paper provides a comparative analysis of different public accountability means used in the public sector - namely sustainability reporting, popular financial reporting and integrated reporting - in order to highlight their similarities and differences, and reflect on their development, with specific reference to the Italian context. In particular, we speculate about the practical and research implications of their emergence, through the lenses of accountability and managerial fad and fashion literature. The main novelty of the paper is that it is one of the first studies providing a comparative analysis of the three reporting tools debated both in practice and in research. We argue about their diffusion patterns, the commonalities and differences, which suggests different stages of evolution, different actors and forces at play. We provide some preliminary evidence on the risk that accountability innovations may end up just in a fad and fashion uptake, creating inefficiencies and not achieving the aims they are intended for. We also show how the available frameworks and standards have more in common than not, and that there is a risk of creating only new labels, without real innovation or improvement of public accountability.

scholarly journals Information Needs of an Environmentally Conscious Society regarding the Functioning of Animal Husbandry Enterprises

2020 ◽  
pp. 22-29
Author(s):  
Dmytro Liudvenko ◽  
◽  
◽  
Keyword(s):  
Financial Reporting ◽  
Information Needs ◽  
Public Information ◽  
Animal Husbandry ◽  
Integrated Reporting ◽  
Significant Discrepancy ◽  
Environmentally Conscious ◽  
Study Results ◽  
Business Entities ◽  
Integrated Information

A significant discrepancy between the indicators for assessing the ecological state in Ukraine and global trends is due to shortcomings in the formation of the ecological consciousness of society. One of the ways to improve the ecological situation in the country is to create an effective system of access to public information on the protection of the natural environment. The purpose of the article is to determine the information needs of an environmentally conscious society regarding the functioning of animal husbandry enterprises for the formation of indicators, which provide integrated information about the activities of such enterprises. Today, information on the compliance of the activities of business entities with the requirements of the concept of sustainable development is disclosed in various reporting documents, which led to the formation of integrated reporting. Based on the study results, the system of indicators was formed to provide integrated information on the activities of animal husbandry enterprises. This system includes a number of elements that satisfy the information needs of both internal (employees, owners, in particular shareholders) and external (contractors, product consumers, creditors, investors, government agencies, public organizations) stakeholders. The main directions of the enterprise's activity, which are of the greatest interest to internal and external stakeholders, and are subject to disclosure in non-financial reporting, have been determined. These main directions can be used as the basis for the development of a long-term strategy for the formation of non-financial reporting of such enterprises, which will simplify the preparation of information for its full disclosure. The environmental consciousness of society is gradually growing and there is a high probability that in the near future even potential employees will be interested in the non-financial performance of the enterprise. So, an enterprise's image will grow if it can publish such indicators.

scholarly journals Prerequisites for integrated reporting development

2019 ◽  
pp. 116-126
Author(s):  
Nataliіa Shevchuk
Keyword(s):  
Financial Reporting ◽  
Rational Expectations ◽  
Information Needs ◽  
Comprehensive Evaluation ◽  
Regulatory System ◽  
Financial Statements ◽  
Economic Research ◽  
Accounting System ◽  
Integrated Reporting ◽  
Economic Relations

The article provides an analytical review of the accounting literature and other scientific sources, which allowed highlighting the main stages of the development of financial statements, determining the historical and practical prerequisites for the formation of integrated reporting and outlining the basic requirements for information reporting capabilities. The purpose of the study is the conceptual understanding of the integrated reporting evolvement. General scientific and special economic research methods, such as dialectical and abstract and logical ones are used to systematize available theoretical material to reveal the element of accounting method. Methods of theoretical generalization, analysis and synthesis have been applied to comprehensive evaluation of the stages of financial reporting development. According to the results of the study, significant influence on the development of the integrated model of accounting has led to the development of economic relations, legal foundations of the functioning of the economy, information needs, the evolution of economic theories: new institutional, evolutionary, theory of rational expectations, theory of exhaustive resources, theory of human capital and the application of these theories to management systems. The main problems of the existing financial statements in accordance with the informational expectations of the stakeholders are identified and substantiated. Formation of new approaches to the development of accounting integrated reporting in Ukraine on the basis of consideration the national peculiarities of accounting system of the current regulatory system requires further study. The study of the formation of integrated reporting in the world economy, international initiatives in the field of integrated reporting, in order to implement the best world practices in Ukraine are pivotal.

A comparative analysis of the use of fair value and alternative valuation methods in IFRS

2021 ◽  
Vol 22 (9) ◽  
pp. 986-1000
Author(s):  
Viktor G. GET’MAN ◽  
Vladislav S. KARTASHOV
Keyword(s):  
Comparative Analysis ◽  
Comparative Study ◽  
Conceptual Framework ◽  
Financial Reporting ◽  
Systems Analysis ◽  
Scientific Research ◽  
Fair Value ◽  
Valuation Methods ◽  
Advantages And Disadvantages ◽  
Data Grouping

Subject. This article analyzes the various types of value used in IFRS to assess assets and liabilities. Objectives. The article aims to conduct a comparative analysis of the types of value used in IFRS when assessing assets and liabilities, and identify the features of the use of fair value as a type of value, considering the use of certain levels of fair value and restrictions on their use. Methods. For the study, we used the systems analysis, comparative study method, information structuring, data grouping, deduction, and other methods of scientific research. Results. The article summarizes the advantages and disadvantages of each of the valuation methods described in the Conceptual Framework for Financial Reporting – IFRS. It systematizes the standards that use certain types of value, and analyzes the features of the use of fair value. The article also identifies factors that affect the ability to measure a higher level of fair value. Conclusions. Fair value is one of the most used valuation methods in international accounting practices. However, the use of fair value in estimating the value of reporting items is limited due to the complexity and high cost of its qualitative valuation. This makes companies use alternative valuation methods.

Spit guards, ethical policing and the need for an evidence-based approach

2018 ◽  
Vol 17 (3) ◽  
pp. 145-155 ◽  
Author(s):  
Peter Joyce ◽  
Wendy Laverick
Keyword(s):  
Police Officers ◽  
Grey Literature ◽  
Primary Source ◽  
Evidence Base ◽  
Evidence Based ◽  
Content Type ◽  
Secondary Sources ◽  
Advantages And Disadvantages ◽  
Wide Range ◽  
The Uk

Purpose The purpose of this paper is to assess the advantages and disadvantages of the use of spit guards by police forces in the UK and to make recommendations regarding an evidence-based approach to decisions related to the use of such equipment. Design/methodology/approach The paper is based upon an examination of a range of primary source material, secondary sources and grey literature. Findings Although the use of spit guards can be justified by factors that include the need to protect police officers from contracting serious infectious diseases, there are a number of problems that concern ethical policing and human rights. Concerns arise when spit guards are deployed against vulnerable individuals, are used offensively rather than defensively and when such equipment is deployed disproportionately against persons from Black and Minority Ethnic (BME) communities. Additionally, the image of the police may suffer if spit guards are accompanied by the use of excessive force which may be perceived as an abuse of police power. Practical implications The paper makes recommendations that a comprehensive evidence base is required to assist practitioners to make informed decisions regarding the deployment of spit guards. This evidence base should include the extent to which officers are spat at, medical evidence relating to spitting and the transmission of serious diseases, the views of the public concerning the deployment of spit guards and estimations as to whether such equipment will deter spitting by suspects of crime. Originality/value This paper provides an original academic contribution to the ongoing debate on the use of spit guards within policing. In particular, it brings together a wide range of material that relates to this topic and presents it as a coherent set of arguments located in a single source.

scholarly journals BEHAVIORAL BIASES IN INVESTMENT DECISIONS: HOME BIAS CASE

2021 ◽  
Author(s):  
Pavlo Dziuba ◽  
Kyryl Shtogrin
Keyword(s):  
Comparative Analysis ◽  
Financial Reporting ◽  
Home Bias ◽  
International Diversification ◽  
Theory And Practice ◽  
Local Bias ◽  
Advantages And Disadvantages ◽  
Developed Markets ◽  
International Portfolio ◽  
The Impact

The place of home bias in the modern paradigm of international portfolio investing is determined. The differences between theory and practice of international portfolio investing resulting from such a bias are identified. Main advantages of international diversification of investment portfolios in terms of performance-risk ratio are defined. It is determined that the growing level of financial markets globalization accompanied by the increase in correlation of returns of financial assets have not affected the benefits of international diversification. The primary problems in determining the reasons for home bias are identified. The main economic and mathematical formalization of home bias in the form of indexes is distinguished. The local bias is investigated. It is revealed that local bias is not limited to national borders. It is determined that home bias is negatively correlated with the wealth of an investor. The extent of home bias for particular groups of countries according to their level of economic development is investigated. It is determined that the highest level of home bias is observed in several developed markets, including China, Japan, the USA, and France, while Luxembourg, the Netherlands, and Switzerland have the highest level of international diversification. The benefits of international diversification based on the MSCI indexes are determined. It is revealed that the benefits from international diversification through emerging markets are higher than those of developed markets. A comparative analysis of portfolios of several countries in the instruments of foreign and local markets is carried out. It is determined that the Great Recession of 2007-2008 promoted the increase in the level of home bias but since 2013 the global level of international diversification has been increasing. Approaches to the analysis of factors of presence of home bias are determined and their main advantages and disadvantages are analyzed based on comparative analysis. The impact of asymmetry of information, financial reporting standards, non-tradable sector of the economy, volumes of investment, inflation, transaction costs, institutional factors on the level of international diversification of the investment portfolio is investigated. A new approach to systematization of factors of home bias through their clustering for institutional, behavioral, transaction and other factors is suggested.

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