Reporting of Enterprises in the Conditions of Sustainable Development: Current State, Problems, Prospects, Information Support

2021 ◽  
pp. 179-186
Author(s):  
Lesya Kononenko ◽  
◽  
Nataliia Sysolina ◽  
Olha Chumachenko ◽  
◽  
...  
Keyword(s):  
Sustainable Development ◽  
Information Needs ◽  
Information Provision ◽  
Financial Statements ◽  
Information Support ◽  
Accounting System ◽  
Integrated Reporting ◽  
Advantages And Disadvantages ◽  
Stage Of Development ◽  
Main Components

The current stage in the development of mankind is characterized by low problems that cause serious concerns internationally. To solve them, a so-called "conception of sustainable development" was developed. Most scientists to the main components of sustainable development include respect and concern for the community; environmental dignity; social and economic justice; Democracy, non-violence and peace. One of the main components that ensure the implementation of the concept of sustainable development is its information provision, one of the sources of which is the financial statements formed in the accounting system. However, the modern stage of development is characterized by the discrepancy of information provision of financial statements of enterprises in the needs of users in this direction. This caused the birth of a new reporting paradigm. The emergence of a new reporting paradigm - integrated - is logical, since changes that have taken place over recent years in the institutional accounting environment must be taken into account by improving the accounting methodological apparatus. Integrated reporting makes it possible to combine in a single form of diverse information resources, which informs the adoption of optimal management decisions. In this case, transparency is achieved for all users of the enterprise, its advantages and disadvantages. It is the inability of the existing paradigm of accounting reporting to solve the issues that modern society puts forward to it, caused the need for a new one. The main prerequisite for its emergence was the position of international organizations on sustainable development of society as a single direction, which provides an opportunity to provide both modern and future generations. Integrated reporting is closely linked both with financial and non-financial, is the result of the evolution of the accounting system to ensure information needs of users, increasing the transparency of data, relevancy of the accounting information.

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.

scholarly journals IMPLEMENTATION OF THE PROVISIONS OF SUSTAINABLE DEVELOPMENT CONCEPT IN TERMS OF RENT THEORY DEVELOPMENT

2018 ◽  
Vol 9 (40) ◽  
pp. 73-86
Author(s):  
Sergii Bardash ◽  
Tetiana Osadcha
Keyword(s):  
Sustainable Development ◽  
Cost Estimation ◽  
Scientific Research ◽  
Theory And Practice ◽  
Information Support ◽  
Accounting System ◽  
The Sustainable Development ◽  
Economic Relations ◽  
Development Concept ◽  
Rent Theory

Research relevance lies in the irreversibility of course choice for embodiment of the sustainable development concept. However, a pluralism of opinions, concerning the implementation of model definition of this concept, as well as the priority tasks for realization of its constituents significantly decelerates the socio-economic development of Ukraine. An inadequate scientific research of the sustainable development problems on a microeconomic level generates the reduction of expected management results and the degree of progressive changes at the level of individual business units. The role and transformation of accounting science, necessary for the implementation of the sustainable development concept, are not fully disclosed. The research purpose and tasks are to determine the accounting component of sustainable development concept on the basis of the rent theory, to outline the directions of rent accounting development under the following factors influence: globalization and transformation of the ownership institution and scientific research activation on this basis, aimed at forming the theoretical and methodological baseline of rent accounting ‘as an additional income. The methodology of the research includes general scientific methods of cognition the necessity and invariant implementation of the sustainable development concept, its constituents allocation and specification; dialectical method for cognition the economic content of rent; a comparative analysis of the definition differences, formed at different stages and forms of realization of economic relations; modeling method for determining the direction and logic of the rent accounting development under the influence of such factors, as globalization and ownership institution transformation. It has been established that realization of sustainable development concept should take place with understanding of the interaction mechanisms of economic, social and environmental components. These generate new ideas about the basic socialization mechanisms and social development of human, external influences on the environment and cost estimation. The interconnection of the constituent of sustainable development concepts and the economic, social and ecological system as a whole is the basis for the theory and practice development of accounting. The accounting information creates preconditions for assessing the achievement and forecasting of further sustainable development of the economy as a separate economic entity, region, country, and the world as a whole. It has been established that the existence of discussion aspects in the treatment of rent and failure to recognize the last object of accounting should be considered as one of the essential factors in accelerating the implementation of the sustainable development concept. Bearing the results of research in mind, the development of a conceptual approach to rent accounting, as an additional entity income, should be based on the recognition the rent as a management object, that requires adequate information support for users’ requests from the accounting system side, based on the systematic development of the theoretical, methodological and organizational-practical regulations of rent accounting. The practical value of research is to formulate a methodological provision of rent accounting, which will further improve an active and passive income distribution of relation participants in the economic sphere.  The obtained scientific results will form the prospects for further research, which will lay in proving the need for the transformation of the property institute in the post-Soviet countries, to determine the models of rent relations between different parties in the field of economic relations, as well as to determine the rent-forming factors of production for the development of the rent assessing methodology.

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 Circular Economy Initiatives through Energy Accounting and Sustainable Energy Performance under Integrated Reporting Framework

2020 ◽  
Vol 5 (6) ◽  
pp. 1032-1045
Author(s):  
Akeel Hamza Almagtome ◽  
Ahmed Jassim Al-Yasiri ◽  
Raed Saiad Ali ◽  
Hasan Latif Kadhim ◽  
Heider Nima Bekheet
Keyword(s):  
Sustainable Development ◽  
Financial Reporting ◽  
Sustainable Energy ◽  
Energy Performance ◽  
Financial Information ◽  
Accurate Information ◽  
Accounting System ◽  
Integrated Reporting ◽  
Reporting Framework ◽  
The Impact

The financial reporting plays a significant role in sustainable development, as it contributes greatly to providing the information required to assess sustainable development performance. In order to achieve the sustainable development, accurate information should be provided to stakeholders on the energy consumed and the impact of energy consumption on the environment. Information on sustainable energy performance needs providing both of financial and non-financial information. However, the traditional financial reporting system is unable to provide information that helps measure and promote sustainable energy performance, as the current accounting system provides financial information only. It is therefore important to adopt an appropriate reporting framework to support the evaluation of sustainable energy performance. This paper proposes an approach to the measure the sustainable energy performance based on the integrated reporting framework. A unique feature of the approach is the selection of corporate energy performance indicators that cover both financial and non-financial information. This paper therefore sets out indicators for assessing sustainable energy performance based on the Integrated Reporting Framework. Furthermore, the application of the indicators proposed in this paper helps regulators and economic policy makers to develop sustainable development strategies at national level. Moreover, the adoption of the proposed indicators can provide accurate information on the real and future of sustainable energy in the country.

scholarly journals INFORMATION SUPPORT AND DEVELOPMENT OF ORGANIC PRODUCTION

2020 ◽  
Vol 1 (2) ◽  
pp. 1-7
Author(s):  
Iryna Zamula ◽  
Dmytro Liudvenko
Keyword(s):  
Internal Control ◽  
Agricultural Sector ◽  
Negative Impact ◽  
Organic Production ◽  
Production Costs ◽  
Information Support ◽  
Accounting System ◽  
Advantages And Disadvantages ◽  
Organic Products ◽  
Theoretical Generalization

The purpose of the paper is to justify the organizational and methodological provisions and to develop practical proposals for improving the information support of organic production delineating ways to advance the accounting system. To achieve this goal, we were focused on the next tasks: determination of the essence of the state and directions of development of organic production, research of legislative requirements for accounting of organic production and improvement of its accounting information support. Methodology. During the research, the following general and specific scientific methods were used: theoretical generalization, analogy, statistical observation, analysis, synthesis, scientific abstraction, critical analysis of accounting issues. Results. In the paper, the following issues were investigated: the place of Ukraine in the organic products market, the main advantages and disadvantages of organic products, ways to improve the information support for the development of organic products. It is proved that the establishment of organic agricultural production in Ukraine requires the development of its accounting support. According to the emergence of such support, it is possible to expect the development of this segment of the agricultural sector. Practical implications. In this paper, the accounting of organic production is improved considering the necessity of coordination of economic, social, and ecological activities of agricultural enterprises by making documentation of business operations related to organic production, confirming the need for internal control of organic production costs to improve their management efficiency, establishing a work plan of accounts regarding the formation of separate analytical accounts for the process of receipt of biological assets, producing organic products and selling them, as well as creating separate analytical accounts to determine the financial result (based on the proposed analytical calculations, the process of creating production costs and determining revenues can be simplified; if cross-production is carried out at an enterprise, then this technique will help to determine the benefits of organic production over conventional production easily), developing a system of financial and statistical reporting indicators for organic enterprises. Value / originality. The improvement of accounting and internal control system can provide the information with the required level of detail to meet the needs of interested users and to make such management decisions that will help to preserve natural resources and reduce the negative impact of enterprise activity on the environmental situation in Ukraine.

scholarly journals ORGANIZATION ASPECTS OF THE INTEGRATED REPORTING FORMATION

2021 ◽  
Vol 5 (40) ◽  
pp. 110-119
Author(s):  
М. Prodanchuk ◽  
M. Tripak ◽  
L. Hutsalenko ◽  
L. Myskiv ◽  
N. Shevchuk
Keyword(s):  
Information Needs ◽  
High Efficiency ◽  
Methodological Approach ◽  
Jel Classification ◽  
Accounting System ◽  
Integrated Reporting ◽  
The Sustainable Development ◽  
Scientific Methods ◽  
Practical Activity ◽  
Theoretical Generalization

Abstract. Research is aimed at developing theoretical and methodological provisions and creating practical recommendations for the organization of the integrated reporting formation, taking into account the analytical indicators in conditions of growing information needs of users. Main principles and provisions of modern economic theory, theory of accounting and economic analysis, scientific research of domestic and foreign scientists on problems of organization of integrated reporting are the theoretical and methodological basis of the research. General scientific methods were used: deduction and induction, synthesis and analysis, formalization and detailing, comparison and analogy, the method of theoretical generalization to gain the aim of the work and to solve the certain tasks. The result of the research is the development of a scientific and methodological approach for the implementation of integrated reporting in the practical activity of the enterprise. The organization of the integrated report formation will provide the solid background for the business in the form of complex integrated financing and non-financing indicators of the enterprise, which will define the main tools, methods, procedures, observance of basic and additional principles of formation of the system of accounting and analytical information. The mechanism of the organization of the integrated reporting formation as scientific and methodological approach is developed for the implementation of the integrated reporting in the practical activity of the enterprise, which consists of organization stages: the organization of the economic processes of the integrated accounting system; the organization of the accounting support of the integrated reporting formation; the organization of integrated reporting formation. The implementation of proposals in the practical activity of the enterprise will allow: publication of the integrated reporting with the responsibility for the completeness and accuracy of the information on the «Unified portal of integrated reporting of the enterprises and organizations of Ukraine», which will be the background of the sustainable development of business and national economy, social and ecological security of the country. The well-designed mechanism will ensure high efficiency indicators and results of the subjects and protect stakeholders from the risks of obtaining inaccurate or incomplete information or not receiving it at all. Keywords: integrated reporting, organization of the integrated reporting formation, financial and non-financial information, social responsibility of business. JEL Classification O3, Q43, P5 Formulas: 0; fig.: 3; tabl.: 1; bibl.: 15.

scholarly journals SYSTEMATIZATION OF APPROACHES TO THE FORMAT AND INDICATORS OF INTEGRATED REPORTING FOR THE APPLICATION IN AUDIT

2020 ◽  
Vol 5 (158) ◽  
pp. 52-57
Author(s):  
O. Konoplina ◽  
Y. Mizik ◽  
N. Chekh
Keyword(s):  
Financial Reporting ◽  
Information Disclosure ◽  
Financial Statements ◽  
Information Support ◽  
Enterprise Management ◽  
Audit Process ◽  
Integrated Reporting ◽  
Corporate Reporting ◽  
Environmental Objects ◽  
Key Indicators

The article is devoted to the issue of information disclosure in integrated reporting, its elements and key indicators for audit performance. It is defined that the current requirements for the information base of enterprise management are beyond the financial statements and require data on economic, social and environmental aspects of activity. Non-financial reporting will be an effective tool for domestic and foreign policy of enterprises, which will be the basis for the development and implementation of strategic business projects. The system of public corporate reporting is aimed at satisfying the diverse information requests of stakeholders. It is proved that financial reporting is currently the most important component of public corporate reporting in representing the efficiency of companies. However, stakeholders cannot be satisfied with just a portion of information from financial statements. It is determined that integrated (corporate) reporting combines the main sections of financial, tax, statistical, internal, social reporting. The structure of such reporting will depend on the needs of the management system and business model. The issue of integrated reporting formation is actualized. The existing approaches to the format of integrated reporting, as well as a set of indicators that are part of it, are analyzed and systematized. It is proved that the basis of information support of integrated reporting should be accounting, which will increase the reliability of its data and the level of confidence and will provide reliable information about the activities of the enterprise in the audit process. Therefore, it is proposed to ensure consistency between the indicators of financial and non-financial reporting, it is necessary to provide methodological and organizational improvements for the collection, registration, processing and systematization of information on social and environmental objects of accounting, expressed in monetary units. Keywords: reporting, audit, integration, standardization, stakeholders.

scholarly journals Public companies non-financial reporting and audit in Ukraine: challenges and prospects

2017 ◽  
Vol 1 (1) ◽  
pp. 32-38 ◽  
Author(s):  
Inna Makarenko
Keyword(s):  
Sustainable Development ◽  
Development Strategy ◽  
Financial Reporting ◽  
Financial Information ◽  
System Reform ◽  
Accounting System ◽  
Integrated Reporting ◽  
Public Companies ◽  
Association Agreement ◽  
Eu Directive

Public interest entities and public companies as their representatives should be an example in implementing of sustainable development initiatives (sustainable development goals of the United Nations, development strategy «Europe-2020», «Sustainable Development Strategy»Ukraine-2020») in the light of Association agreement. Main challenges for Ukrainian public companies are non-financial information disclosure and assurance of both financial and non-financial reporting through statutory audit. Key prospects of public companies accounting system reform were outlined in this regard. This research may contribute to the existing literature in regard of identifying key areas of improving financial and non-financial information PIEs disclosure as well as its independent verification through statutory audit. This improvement should incorporate European experience and provision of Directive 2014/95 / EU, Directive 2013/34 / EU, Directive 2014/56 / EU and Regulation (EU) no. 537/2014. Among the promising areas of research, introduction of integrated reporting for Ukrainian PIEs is worth noting.

scholarly journals Development of Management Accounting of Stocks in Information Support of Innovative Activity

2020 ◽  
pp. 273-283
Author(s):  
Olha Roieva ◽  
Keyword(s):  
Inventory Management ◽  
Information Needs ◽  
Management Accounting ◽  
Innovative Activity ◽  
Information Support ◽  
Production Cycle ◽  
Accounting System ◽  
Accounting Data ◽  
Management Reporting ◽  
Management Accounting System

The article is devoted to the research of organizational and methodical bases of construction of the administrative account of stocks and definition of its role in information maintenance of innovative activity. Based on the study and systematization of scientific literature and regulations, it is established that management accounting is a system of collecting, analyzing, summarizing and presenting information about the activities of the enterprise and its structural units to management staff to ensure effective enterprise management, adoption of correct and reasonable current, strategic and tactical decisions, as well as planning for further development of the enterprise. It is substantiated that inventory management in information support of innovation is aimed at meeting the needs of users of management reporting in objective planning, actual and forecast information about inventories to ensure the ability to make informed management decisions in the process of innovation. The concept of inventory management developed by the author in the innovation management system defines the purpose and main tasks of such accounting, includes the relevant elements, principles and methods of inventory management, which together forms the organizational and methodological foundations of inventory management. The expediency of forming an information array of data of the management accounting system and its further use for compiling management reporting on the basis of data accumulated by the accounting system is proved. The scheme of organization of inventory management based on the transformation of accounting data is given. Approaches to the classification of stocks in the management accounting system are highlighted, which substantiate the expediency of allocating the following classification groups of stocks: according to the place of stocks in the production cycle; depending on the nomenclature of stocks; in accordance with the centers of responsibility identified at the enterprise; depending on the role that specific stocks play in the process of innovation; by cost centers. Approaches to the construction of analytical accounts of inventory accounting of different levels of detail, which is aimed at ensuring the information needs of management in the process of conducting innovative activities at the enterprise re substantiated.

scholarly journals FEATURES OF VALUATION OF NON-CURRENT TANGIBLE ASSETS IN THE ACCOUNTING SYSTEM

2021 ◽  
Author(s):  
Olga Bondarenko ◽  
Iryna Trush
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Accounting System ◽  
Financial Reporting Standards ◽  
Stage Of Development ◽  
Tangible Assets ◽  
Fixed Assets ◽  
Commodity Money ◽  
The One ◽  
Measure Evaluation

The question of evaluation is there key in accounting and financial reporting. In this In this context, valuation acts as a component of the method of accounting, according to which is used to measure the value of its objects. Based on information about their condition, investors make decisions about investment. For effective irreversible management tangible assets necessary is the settlement of issues that relate to their accounting, depreciation and determining the value of objects. Irreversible the assets of the enterprise, in particular its fixed assets, are the basis economic activity of the enterprise, one of the key elements production process and, therefore, one of the most important objects accounting and reporting, which characterizes the general property status enterprises, its economic potential and investment attractiveness. One of the most important elements of the method accounting is a reflection of its objects in one measure - evaluation. The latter is used as a tool for sharing and accounting acts of purchase and sale in terms of commodity-money relations. Valuation is the basis of accounting methodology accounting. From how correctly the method is chosen valuation of accounting objects depends reliability of financial statements and validity management decisions at the enterprise. In the analysis of the regulatory framework with regulation of accounting, in particular non-current assets, it becomes obvious the great importance of evaluation in modern accounting system. However, the current one stage of development of accounting characterized by the presence, on the one hand, fundamentally new requirements for professionals in the field accounting, on the other - the presence contradictions between regulations. Evaluation is an integral part of the method accounting and is closely related to others its elements. Using a money meter, simultaneously or separately with natural and labor, it is possible to generalize economic processes, means and sources of the enterprise. The basis for accounting and evaluation of non-current assets are regulations and International Financial Reporting Standards and accounting.

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