CONVERGENCE MATRIX OF IFRS METHODOLOGY AND SEEA FOR THE RECOGNITION OF MINERAL RESOURCES IN THE CONTEXT OF TRANSITIONING TO A SUSTAINABLE ACCOUNTING AND REPORTING MODEL: LIMITATIONS AND OPPORTUNITIES OF MOLDOVA'S PRACTICE

Irina Golochalova ()
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Irina Golochalova: SMoldova State University, MD2009, Republic of Moldova

European Journal of Accounting, Finance & Business, 2024, vol. 12, issue 1, 23-31

Abstract: The objective is to develop a Matrix of convergence indicators for the IFRS methodology and the SEEA concept for the recognition of mineral resources in the financial statements, the format of which adheres to the socio-economic model. In order to achieve this goal, the hypotheses were put forward and substantiated. The study identified a set of indicators characterizing the degree of correlation between IFRS and SEEA, developed a convergence matrix for the two frameworks, demonstrating a high degree of connection between them with respect to the recognition of mineral resources. The proposed matrix is a conceptual basis for the calculation of the En-contribution of business to the realization of sustainable development goals. The application of IFRS methodology, which meets the goals of sustainable development and which represents the base to form a socio-economic model of accounting and financial reporting, should be considered as a promising direction for recognizing mineral resources and natural capital as a source of their origin. The assessment model of mineral resources adopted at the legislative level in Republic of Moldova leads to an asymmetric effect of the contribution of real sector enterprises related to the use of mineral resources, to the development of the national economy.

Date: 2024
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