IMPACT OF THE INTEGRATED REPORTING CONCEPT ON THE DEVELOPMENT OF ENVIRONMENTAL ACCOUNTING IN THE CONTEXT OF DIGITALIZATION AND GREENING OF THE ECONOMY
The development of environmental accounting is relevant in the modern changing world, which is explained by the presence of serious environmental disasters, the development of socially oriented business and the growing information needs of society. The purpose of the study is to substantiate the essential directions of environmental information formation in the context of the development of the integrated reporting Institute on the basis of a comprehensive theoretical and methodological approach. The article new scientific results: peculiarities of influence of technological advances on the development of the accountancy profession, enabling the release of more time to prepare information on the impact of environmental and economic factors on the change in value of the company; the essence of the upcoming changes to the international integrated reporting framework conducive to a clearer understanding of reporting; it substantiates the key role of the concept of integrated reporting in the development of environmental accounting that determines the main significant environmental information that affects the change of capital. The results of the study are expressed in the proposal for a more in-depth formation of information about capital that is subject to environmental accounting, in particular natural capital, data on which is necessary for calculating the author`s integrated indicator of changes in the value of capital, as well as for conducting environmental and economic analysis and developing competent management decisions by both internal and external stakeholders. The introduction of the integrated reporting concept in companies` activities will smooth out the obstacles that have been formed on the way to the development of environmental accounting in Russia.
Keywords: integrated reporting, environmental accounting, digitalization, greening, value created, business model, capital, accounting profession, management decisions, environmental protection.
Highlights:
♦ the article considers the impact of the current economic environment, digitalization and greening on the development of the accounting profession and the importance of integrated reporting, the key role of environmental accounting in building a sustainable business and eco-efficiency of the company is determined;
♦ suggestions on changing the international standard for integrated reporting were studied, which help to strengthen the understanding of the value creation process, as well as the significance of environmental impacts on long-term value creation and capital changes;
♦ a range of key information about the nature, required for the formation of environmental data recording on natural capital for the calculation and analysis of the author`s integrated indicator of the change in the value of capital which was proven on the example of report of the largest Russian company, and the range of data required for the 5 stages of the analysis of natural capital according to the methodology of V. G. Kogdenko are classified;
♦ solutions to the problems of establishing environmental accounting through the development and popularization of the introduction of integrated reporting, related to regulations, understanding of specific terminology, disclosure of environmental information in reporting, etc. are proposed.
Yulia V. Novozhilova, Candidate of Economics, Associate Professor of the Accounting, Analysis and Audit Department, Yaroslavl State University.