Financial forms in integrated reporting as a means of achieving leadership in accounting

Abstract

Our paper focuses on the problem of achieving leadership in financial services via ensuring the efficiency of using existing types of reporting. We consider the chronological stages of the appearance and implementation of integrated reporting on the territory of the Russian Federation. Moreover, a paper provides a comparative analysis of the report, compiled in accordance with IFRS, with an integrated report, which allows us to draw some similarities and advantages. In addition, the paper presents the advantages and disadvantages of integrated reporting based on existing Russian and foreign experience with accounting standards and their implementations. Our findings identify the pressing need for providing information in the form of an integrated report for interested external users in order to obtain reliable data with a long-term perspective. In addition, we develop an algorithm for introducing an integrated report for Russian organizations as a base one with the ability to adjust individual elements of the process in connection with the individual characteristics of each organization.