Environmental and social accounting: An alternative vision of corporate sustainability. Part 1

Abstract

Subject. This article focuses on accounting approaches in the context of reflecting the social and environmental operations of an enterprise aimed at ensuring corporate sustainable development. Objectives. The article aims to reveal the potential for sustainability disclosure in the financial accounting and reporting complex of the enterprise. Methods. For the study, I used analysis and synthesis, comparison, and generalization. Results. The article proposes the formulation of a provision as an accounting phenomenon for reflecting the company's social and environmental operations, reveals the principle of reconciliation of classical accounting objects with newly introduced ones, and it also proposes a settlement and accounting mechanism, and determines the role of non-financial reporting in relation to its financial counterpart. Conclusions. The accounting approach to reflecting the sustainable development of the enterprise helps form an objective view on this issue with the minimum necessary inclusion of non-financial accounting techniques, the list of metrics of which should be fixed.