Accounting theory and financial environmental reports

Nyquist, Siv

doi:10.1002/1099-0925(200012)7:4<178::aid-ema136>3.0.co;2-z

Cited by 9 publications

(7 citation statements)

References 2 publications

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“…Individual accounting modules provide enterprises with relevant information for their efficient financial management. Accounting modules supply complex information that may be used -most frequently in monetary form -to interpret economic effects and corporate processes [5].…”

Section: Accounting Subsystems Of Enterprisesmentioning

confidence: 99%

Accounting agenda and evaluation of enterprises’ environmental activities in the czech republic

Černíková¹,

Маликова²

2015

Int. J. SDP

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Environmental protection is an important element of the contemporary economic development. It also brings a new dimension of enterprises' relation to environmental issues. The aim of corporate activities is not only to generate profit but also to satisfy the interests of shareholders. If enterprises want to succeed in such a hard competitive environment, their managements must not forget to consider their relation to the environment. The basic information tool the managers of enterprises may use to get relevant information about the interaction between their enterprise and the environment are accounting modules. The purpose of this paper is to review the preparedness of accounting systems of enterprises in the Czech Republic to catch corporate processes that may be problematic from the environmental point of view. The financial accounting module in the Czech Republic economic environment is firmly bundled with legislation. Pursuant to the applicable provisions of the Czech Act on Accounting and related legislation, environmental information does not need to be tracked. Some information on environment is included in financial statements, but this is usually the case of large corporation only. In connection with the requirements for sustainable development, it is necessary that each entity will closely follow its interaction with the environment. Therefore, the financial but also the managerial accounting modules should be updated to include environmental aspects too. Managers of enterprises will then be able to accurately quantify real costs and revenues associated with environmental issues. Such information could be then used as a basis for analysis of individual corporate activities having some impact on the environment as well as for planning of goals in this area. The management of enterprises should also introduce a system of indicators for the evaluation of environmental aspects within the scope of corporate processes. The paper also covers the case study of the Czech company engaged in the manufacture of aluminum alloy casts. The case study analyzes current options for tracking the selected environmental aspects in managerial and financial accounting systems. The case study further suggests some indicators to evaluate such activities.

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Section: Accounting Subsystems Of Enterprisesmentioning

confidence: 99%

Accounting agenda and evaluation of enterprises’ environmental activities in the czech republic

Černíková¹,

Маликова²

2015

Int. J. SDP

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“…Accounting information enables to measure the performance of the company and its financial position and other factors relevant to the enterprise comprehensively. Thus, a sufficient and reliable information platform is created for both external users such as investors, shareholders, suppliers, employees, customers, state authorities that implement some financial, fiscal and environmental policy of the state, as well as for internal users -enterprise managers [2]. Different needs of various users of accounting information, different criteria for evaluating individual company activities and variously specified requirements of the legislative framework of business lead to the creation of a user different accounting modules.…”

Section: Accounting Subsystems Of Enterprisesmentioning

confidence: 99%

Environmental impact identified from company accounts in the Czech Republic

Černíková

Маликова

2013

WIT Transactions on Ecology and the Environment

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The contribution aims to examine the readiness of enterprises' accounting systems in the Czech Republic to display environmental activities. The need to monitor the environmental profile of a company requires, inter alia, the need for modifications of existing accounting systems of enterprises by the addition of an environmental factor to the standard economic information provided so as to capture the interaction between the activities of individual companies and the environment. Financial accounting of Czech companies is ruled by legislation. There is no requirement for the separate evidence of the environmental impact. Some of the environmental information is included in the annual reports of large companies only. In the context of the requirements of sustainable development, however, it would be desirable that all companies follow the information generated by the system of environmental accounting. Managers can continue to work with the data provided by this system and, they can evaluate the feedback to influence company behaviour. Precisely quantified actual costs (or revenues) associated with the environment allow a specific company to define its environmental profile, or to reveal its strengths and weaknesses in this area and positively influence its relationship to the environment with the help of partial analysis such as tracking the current trend in time, to compare its own environmental profile to the competition, to differentiate effective products not only in economic but also in environmental terms. Then, this generated information is externally useful to investors, banks and other stakeholders. Last but not least, in the context of a defined risk of environmental pollution level, enterprise value and its market position can also be affected.

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“…Specifically, each of these methods follows different values and principles for recording relevant information. On the other hand, for formal accounting methods, many organizations and academics suggest introducing SEA information into formal financial statements through the GAAP (Nequist, 2000;EC, 2001;Dorweiler and Yakhou, 2005). These principles help in both the harmonization of this information in a reliable manner and furthermore, help stakeholders to compare between different accounting periods and organizations (Edwards et al, 2002).…”

Section: Insufficient Harmonization Of Sea Informationmentioning

confidence: 99%

“…However, contemporary attempts to incorporate SEA information into formal financial statements have presented certain significant drawbacks. Nequist (2000) notes that difficulties have arisen in the valuation of environmental liabilities. These drawbacks, however, could be classified as follows:…”

Section: Insufficient Harmonization Of Sea Informationmentioning

confidence: 99%

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Classifying current social responsibility accounting methods for assisting a dialogue between business and society

Nikolaou

Evangelinos²

2010

Social Responsibility Journal

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Purpose -The purpose of this paper is to discuss the drawbacks of current social and environmental accounting methods and to present a classification for developing a new accounting model. Design/methodology/approach -The various social and environmental accounting methods are classified and discussed on the basis of various criteria such as the types of accounting principles and the content and information units utilized.Findings -Current social and environmental accounting methods utilize different criteria, measurement units and principles, a fact that makes the information provided ambiguous and problematic for a reliable business-society dialogue under a common and understandable context. A new classification is presented based on specific criteria in the prospect of developing a new accounting model.Research limitations/implications -The proposed new classification aiming to develop a new accounting model is a theoretical proposition which should be validated and tested in practice with a series of case studies before it can be recommended as an alternative to current accounting methods.Originality/value -The paper attempts to highlight the drawbacks of the current social and environmental accounting methods and proposes a new classification for the development of a new accounting model.

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Accounting theory and financial environmental reports

Cited by 9 publications

References 2 publications

Accounting agenda and evaluation of enterprises’ environmental activities in the czech republic

Accounting agenda and evaluation of enterprises’ environmental activities in the czech republic

Environmental impact identified from company accounts in the Czech Republic

Classifying current social responsibility accounting methods for assisting a dialogue between business and society

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