The use of non-financial information in financial reporting

Jordi Martí Pidelaserra

Chapter 12 in Research Handbook on Financial Accounting, 2024, pp 214-232 from Edward Elgar Publishing

Abstract: Non-financial information is absolutely necessary to be able to assess profitability and risk from a financial perspective. The transformation from non-financial accounting to sustainability accounting reinforces the idea that institutions should be managed with objectives of greater height than simple profit maximization. This chapter presents the fundamental variables for this new business management. A new integrative management of the SDGs, empathetic with stakeholders and responsible with shareholders is possible with the extended balance sheet, a consolidation of four balance sheets. The first balance sheet is the financial one according to IFRS, the second balance sheet would show environmental assets and liabilities, the third shows the investments and social obligations and the fourth would show the assets and liabilities of governance.

Keywords: Business and Management; Economics and Finance (search for similar items in EconPapers)
Date: 2024
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