Forming the conceptual foundations of a sustainable development accounting system and reflecting its results in reporting

Tasneem Mohammad Khalaf Alsarayrah, Khaled Ahmad Haroun Alhasanat, Oleh Sokil (), Valeriy Zhuk and Yana Sokil
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Tasneem Mohammad Khalaf Alsarayrah: Al-Balqa Applied University
Khaled Ahmad Haroun Alhasanat: Al-Balqa Applied University
Oleh Sokil: Lviv Polytechnic National University
Valeriy Zhuk: National Science Center “Institute for Agrarian Economics” Institute of Accounting and Finance
Yana Sokil: Dmytro Motornyi Tavria State Agrotechnological University

Eastern-European Journal of Enterprise Technologies, 2024, vol. 4, issue 13 (130), 6-18

Abstract: The subject of this study is sustainable development accounting, particularly its role in shaping environmental and social indicators of enterprises. The paper pays special attention to the issue of insufficient integration of environmental and social aspects into conventional financial accounting. It identifies the need to devise methodologies that include social and ecological indicators in financial reporting, to provide a more comprehensive understanding of the impact of enterprise activities on society and the environment. The results demonstrate that the implementation of sustainable development accounting allows for a comprehensive assessment of the financial, social, and environmental impact of the enterprise. Analysis of sources proves that enterprises that use this approach have better opportunities for risk forecasting and resource management, which increases their competitiveness and responsibility to society. The interpretation of the results emphasizes that the success of sustainable development accounting is conditioned by the ability to integrate comprehensive data about the impact of enterprise activities on the environment and society into the general management system. Such integration allows enterprises not only to meet regulatory requirements but also to enhance their overall value and image. The features and distinctive characteristics of the results are that they enable companies to conduct more transparent and responsible business. The implementation of sustainable development accounting systems gives enterprises the ability not only to reduce the negative impact on the environment but also to effectively engage resources to address social issues. The domain of practical application of the results extends to corporate governance, socially responsible business, investment analysis, and environmental assessment. It includes internal and external regulation, stakeholder requirements, and strategic planning at enterprises

Keywords: accounting; sustainable development; environmental and social indicators; entrepreneurship (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:baq:jetart:v:4:y:2024:i:13:p:6-18

DOI: 10.15587/1729-4061.2024.307645

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