Metrics

  • citations in SCIndeks: [4]
  • citations in CrossRef:0
  • citations in Google Scholar:[]
  • visits in previous 30 days:4
  • full-text downloads in 30 days:0

Contents

article: 10 from 10  
Back back to result list
2011, vol. 13, iss. 1, pp. 105-124
Transformation of corporate reporting: From financial to business reporting
aUniversity of Kragujevac, Faculty of Economy
bUniversity of Belgrade, Faculty of Agriculture
Abstract
The current global economic downturn has shown the folly of business and investment decisions based on short-term gains. Many authors have remarked on what they consider to be discrepancy between information provided by financial reporting and the information financial statement users need. Financial statements alone are not sufficient to communicate overall performance of an enterprise. Some authors have characterized this as disconnect between 'information economy' companies and 'industrial economy' financial reporting. Many of them have contended that financial statement users need more nonfinancial information, more forward-looking information and more information about intangible assets. Solution is in an integrated approach of utilization the financial information together with information from the business reporting. Business reporting cannot be static, or it will be inadequate. The business reporting has to be changed in order to reflect changes in business, in information technology and in users¢ needs. Unlike financial reporting focusing on investors, business reporting is focused on stakeholders. This approach is accordance with the concept of the corporate social responsibility.
References
*** (2008) Cima official learning system: Management accounting business strategy. Elsevier Ltd
*** (2009) CIMA Official learning system: Test of professional competence in management accounting. Elsevier Ltd
Bazley, M., Hancock, P., Berry, A., Jarvis, R. (1999) Contemporary accounting. Thompson Learning
Brown, J., Fraser, M. Social and environmental accounting: How are you approaching it. Preuzeto sa www.wbcsd.org 12.januar 2011
Eccles, R., Herz, R., Keegan, E., Philips, D. (2001) The value reporting revolution. New York, itd: Wiley
Gray, S.J., Needles, B.E. (2002) Finansijsko računovodstvo, opšti pristup. Beograd: Savez računovođa i revizora Republike Srbije
Malinić, S.D. (2003) Target costing i konkurentske strategije. Ekonomske teme, vol. 41, br. 5, str. 15-24
Miller, P.B.W. (2002) Quality financial reporting. Journal of Accountancy, American Institute of CPAs, Durham USA, Volume 193, Number 4
Morley, M. (1979) The value added statement in Britain. Accounting review, July
Pendlebury, M., Groves, R. (2004) Company accounts: Analysis, interpretation and understanding. Thomson
Shutt, A. (2006) Corporate governance based on business reporting in accordance with IAS/IFAS accounting. Verlag
Staden, C.J. (2000) The value added statement: Bastion of social reporting or dinosaur of financial reporting. in: Working papers, New Zealand: Massey University
 

About

article language: Serbian
document type: Review Paper
published in SCIndeks: 30/03/2012

Related records