Financial reporting for sustainable development: Critical insights into IFRS implementation in the European Union

Palea, Vera

doi:10.1016/j.accfor.2018.08.001

Cited by 25 publications

(29 citation statements)

References 94 publications

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“…Several studies have analyzed the pros and cons associated with this accounting model (Kothari & Barone, 2011;Tsunogaya, 2016;Aldredge, Cooley & DuBois, 2018;Kumar, 2015;Palea, 2018). Rules-based accounting is that which prescribes, as well as suggests the name, rules or procedures to be adopted and dictates the manner in which the elements should be measured.…”

Section: Introductionmentioning

confidence: 99%

“…Principle-based accounting is that which expresses itself through principles that must be interpreted and judged, especially in light of the aspects of the transaction and the characteristics of the business, in order to find the best way to measure the elements of financial statements. Regardless of the system adopted, the data and accounting information are essential in the decision making of administrators, investors and others involved with the organization, because their main objective is to report the results obtained by companies through the development of their activities (Tsunogaya, 2016;Aldredge, Cooley & DuBois, 2018;Kumar, 2015;Palea, 2018). In this context, the IFRS concepts are a way to bring improvements in the quality of accounting information, according to resolutions of the Financial Accounting Standards Board -FASB (2010) and the International Accounting Standards Board -IASB (2018), as well as the Conceptual Framework for Financial Reporting (Brazilian Accounting Standards -NBC).…”

Section: Introductionmentioning

confidence: 99%

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The principles underlying the IFRS and the measurement bases of the elements comprising the financial statements

Martucheli¹,

Filho²

2021

AMBIENTE

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Purpose: This theoretical essay seeks to present concepts, arguments and discussions about the adoption and use of IFRS, focusing on their underlying principles and measurement bases. Methodology: Literature review with presentation and discussion of arguments from authors who have researched the use of IFRS and its underlying principles and measurement bases. Results: Principle-based accounting standards are seen by a number of authors as a possible solution to the problem of accounting harmonization. However, another stream of authors states that principle-based accounting standardization, although it may result in higher quality it is less assertive financial reporting, given the existence of subjectivity in the content of financial statements. This fact leads to the conclusion that absolute harmonization of accounting standards would be impossible. Contributions of the Study: The study proposes notes regarding the discussion on IFRS, which are responsible for increasing the quality of financial statements, while at the same time reducing the reliability of the information produced, in view of the difficulties inherent to the application of the concept of fair value.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The principles underlying the IFRS and the measurement bases of the elements comprising the financial statements

Martucheli¹,

Filho²

2021

AMBIENTE

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“…A common EU aim is to recycle 65% of municipal waste and 75% of packaging waste by 2030 [15]. The document of "General Union Environment Action Programme to 2020; Living well, within the limits of our planet" described a waste management hierarchy according to environmental aspects [16]: The European Union repeatedly formulated aims, plans and recommendations concerning waste management [4][5][6][7][8][9][10][11][12][13][14]. A common EU aim is to recycle 65% of municipal waste and 75% of packaging waste by 2030 [15].…”

Section: Introductionmentioning

confidence: 99%

Sustainable Waste Logistics and the Development of Trade in Recyclable Raw Materials in Poland and Hungary

Mesjasz-Lech

Michelberger

2019

Sustainability

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This article aims to propose a methodological framework to determine the degree of the dynamic impact of the effect of activities in the field of sustainable waste logistics on the development of trade in recyclable raw materials in the chosen countries of the European Union, especially in Poland and Hungary. In order to determine the dynamic interdependence between the indicated phenomena, econometric tools associated with the vector autoregression model were used, namely: Granger causality tests, impulse response function and variance decomposition of forecast errors. The tools used will not only identify the direction of the causal interdependence between the effects of sustainable logistics activities and the development of trade in recyclable raw materials, but also allow to determine the strength of the interaction between these variables. The conducted research shows that changes in the environmental effects of waste logistics activities are the Granger cause of changes occurring in the trade of renewable raw materials, especially in Hungary. Considering adequately delayed values of the synthetic development measure of the environmental effects of waste logistics increases the accuracy of predictions for changes in the trade of recyclable raw materials.

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“…It should be stressed that the concept is multidimensional and at the same time dynamic, which brings specific consequences in its implementation, including the problems and dilemmas occurring and concerning measures as well as defining the value of such measurements itself (Palea, 2018;Hak, Janoušková, & Moldan, 2016).…”

mentioning

confidence: 99%

New Imperative of Corporate Value Creation in Face of the Challenges of Sustainable Development

Jaki¹,

Siuta-Tokarska²

2019

EBER

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The aim of the article is to present and exemplify the mechanisms of changes in defining and influencing the new imperative of corporate value creation. It is implied by the impact of the sustainable development concept. Research Design & Methods: The research focused on the concept of corporate value creation in the context of the challenges connected to sustainable development. In the article, both inductive and deductive ways of reasoning were adopted, which makes it possible to combine the results of the detailed research. Findings: The publication indicates the emerging need for a change in the manner of perceiving and thinking about values-'from grasping value for today-towards the value of the future.' This is related to the need to formulate the new imperative of corporate value creation. Implications & Recommendations: The reasonable profit concept can also be the basis for the formulation of the postulate of 'reasonable speed of corporate value creation.' Therefore, there is a need to redefine the existing imperative of corporate value creation and implement a new imperative based on the idea of the responsibility for the existence and long-term development of the enterprise. Contribution & Value Added: The result is the disclosure of the emergence of a hybrid concept of sustainable value-based management. The added value of this article is the proposal to create a new imperative of corporate value creation based on the foundation of the restitution of the idea of responsibility. Article type: conceptual article

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Financial reporting for sustainable development: Critical insights into IFRS implementation in the European Union

Cited by 25 publications

References 94 publications

The principles underlying the IFRS and the measurement bases of the elements comprising the financial statements

The principles underlying the IFRS and the measurement bases of the elements comprising the financial statements

Sustainable Waste Logistics and the Development of Trade in Recyclable Raw Materials in Poland and Hungary

New Imperative of Corporate Value Creation in Face of the Challenges of Sustainable Development

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