The role of accounting in determining social indicators of success for sustainable development of enterprises

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Published: Nov 25, 2023
Keywords:
accounting sustainable development social indicators corporate social responsibility performance evaluation enterprise management

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Viktoriia Shkola
Technical University of Munich, Munich, Germany
https://orcid.org/0000-0002-3037-4690

Abstract

In the context of global change and increased focus on sustainability, the role of accounting in providing the transparency and accuracy of data needed to assess social indicators of corporate success is increasing. This article examines the significance of accounting as a tool that facilitates the integration of social aspects into the company performance evaluation system. Particular attention is paid to analyzing methodological approaches to measuring social indicators such as employee well-being, contribution to society and environmental compliance. The article also explores existing standards and norms of sustainability-oriented accounting, including international recommendations and national practices. Ways of adapting accounting procedures to the new challenges and requirements for enterprises striving for sustainable development are analyzed. As a result, recommendations are offered for the implementation of best accounting practices to improve the efficiency of sustainable development management of enterprises, which allows optimizing decision-making processes, increasing social responsibility and strengthening the company's position in the long term.

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How to Cite
Shkola, V. (2023). The role of accounting in determining social indicators of success for sustainable development of enterprises. Law, Business and Sustainability Herald, 3(4), 21–32. Retrieved from https://www.lbsherald.org/index.php/journal/article/view/54
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Vol. 3 No. 4 (2023): Law, Business and Sustainability Herald
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Articles
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This work is licensed under a Creative Commons Attribution 4.0 International License.

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