Understanding Integrated Reporting and the UN Sustainable Development Goals
Nowadays, accounting students are expected to have a broader understanding of corporate reporting, value creation, and sustainable development. Dr Xinwu He explores how this can this be achieved.
Financial accounting has long been viewed as a major mechanism for communicating information about firms and aligning the interests of different user groups of financial statements (particularly shareholders, investors, creditors, and managers).
It serves the purposes of financial performance assessment, internal control, and valuation of firms. Traditionally, students who study an accounting degree are taught to prepare financial statements in accordance with the requirements of generally accepted financial accounting and reporting standards, analyse financial ratios and performance, and conduct income measurement and asset valuation.
Over the past two decades, the importance of non-financial reporting has increased considerably through the growing awareness of the United Nations (UN) Sustainable Development Goals (SDGs), environmental issues, corporate social responsibility (CSR), the proliferation of non-financial reporting standards/frameworks (including sustainability/CSR reporting, integrated reporting , or other equivalents), and the increasing adoption of non-financial reporting by organisations in both private and public sectors.
Nowadays, accounting students are expected to have a broader understanding of corporate reporting, value creation, and sustainable development. But how can this be achieved?
