CHALLENGES REGARDING THE NON-FINANCIAL REPORTING IN THE GLOBAL CONTEXT
Autor (i): Getuța David (Roșoga); Paula Munteanu
JEL: M48, O16, Q01.
Cuvinte cheie: sustainable global economy, non-financial information, methodology and performance
indicators for reporting, non-financial statement, key principles for reporting
Abstract:
During the last years UE acknowledged the increasing role of corporate social responsibility. In this regard, in the accounting field, it was required the disclosure of non-financial information by the undertakings that are within the scope of the Directive 2014/95/EU for the financial year starting on 1 January 2017 or during the calendar year 2017. This allows managing change towards a sustainable global economy by combining long-term profitability with social justice and environmental protection. Also this contributes to meet the needs of investors and other stakeholders as well as the need to provide consumers with easy access to information on the impact of businesses on society. The paper aims to present a dynamic analysis of the european legislation in the field, since 2014 to date, by underlining the role of non-binding guidelines issued by the European Commission in facilitating relevant, useful and comparable disclosure of non-financial information by undertakings.
During the last years UE acknowledged the increasing role of corporate social responsibility. In this regard, in the accounting field, it was required the disclosure of non-financial information by the undertakings that are within the scope of the Directive 2014/95/EU for the financial year starting on 1 January 2017 or during the calendar year 2017. This allows managing change towards a sustainable global economy by combining long-term profitability with social justice and environmental protection. Also this contributes to meet the needs of investors and other stakeholders as well as the need to provide consumers with easy access to information on the impact of businesses on society. The paper aims to present a dynamic analysis of the european legislation in the field, since 2014 to date, by underlining the role of non-binding guidelines issued by the European Commission in facilitating relevant, useful and comparable disclosure of non-financial information by undertakings.
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