№ 2/2019

Fìnansi Ukr. 2019 (2): 82–98https://doi.org/10.33763/finukr2019.02.082

SCIENTIFIC-PRACTICAL CONFERENCE

SHYGUN Mariya ¹

¹Kyiv National Economic University named after Vadym Hetma”
OrcID ID : https://orcid.org/0000-0003-1660-9534

Conceptual changes in accounting under the influence of sustainable business development

The article reveals the nature of the impact of sustainable development goals on changing the role of accounting in the management of sustainable business development. The existing contradictions and unresolved issues in established missions, goal-setting and visions of global and international organizations are revealed in the approaches to preparing Sustainability Reporting for stakeholders. Signs of over-regulation of the preparation of sustainability reporting are disclosed. Due to the fact that various reporting formats for public sustainability reporting are used by companies, such reporting becomes incomparable. It is impossible to identify the criteria for defining non-financial indicators in the Sustainability Reporting and integrated reporting, which increases the risk of data unreliability. In particular, the IIRC's conflict of objectives (follow-up to sustainable development VS the value creation of the organization) is shown. The Framework is focused on financial capital providers’ needs and long-term value creation, whose goals are based on profitability principles and diverging from the global sustainable development goals. A list of innovations in accounting practice is provided to ensure the preparation of reporting in new formats for sustainable development goals. The emphasis is on the need for radical change in mindsets of business owners, managers and all involved professionals, including accountants of companies, and their focus on sustainable development. The need to create a specialized department in companies for integrated reporting and participation in the management of sustainable business development is substantiated. The preparation of integrated reporting is recommended in the subsystem of strategic management accounting, focused on the information provision of the strategic management of the company. The author gives proposals on the directions of the accountant’s professional development to process non-financial data, the enhancement of adult life-long education, continuous professional education, and the creation of open knowledge bases to ensure the possibility of self-education.

Keywords:sustainable development concept, global goals, sustainable development report, integrated reporting, management report, global management accounting principles, strategic management accounting

JEL: М41

Shygun M. . Conceptual changes in accounting under the influence of sustainable business development / M. Shygun // Фінанси України. - 2019. - № 2. - C. 82-98.

Article original in Ukrainian (pp. 82 - 98)

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