The Future of Financial Reporting

TBC
1. Auflage 2020
ISBN: 978-1-138-80254-4
Verlag: Taylor & Francis Ltd

Buch, Englisch, 256 Seiten, Format (B × H): 159 mm x 235 mm

Reihe: Routledge Studies in Accounting

The key message of this book is that the world is changing and that accounting, financial reporting and auditing must change in order to avoid the prospect that all three fail to meet the demands of society and thus become irrelevant. The book identifies four forces that will cause the future to be different from what it is now.

- Globalisation: Accountancy practice in the UK, and globally, will be increasingly determined by international bodies, such as those of the European Union and the International Accounting Standards Board; especially post the 2007/8 crisis.

- Society’s demand for more ethical behaviour by business: The recent public outrage over the tax avoidance practices of multinationals has demonstrated that society will no longer tolerate unethical behaviour on the part of big business, audit firms and others.

- The environmental crisis: Accountants will no longer be able to argue that the impact of a business’s activities on the environment or on a narrow view of the supply chain is not their concern.

- Technological change: In the future financial reporting will be largely effected through the Internet and real-time reporting. The present unwieldy and largely unread printed reports will become a relic of the past.

Accountancy needs fundamental reform. Integrated reporting , whilst still keeping to some of its original ideals, seems to have failed in its current form. This book develops a novel but thoroughly practical form of financial reporting - hybrid accounting - which should enable accounting and financial reporting to meet the challenge of the future.

Autoren/Hrsg.

Bhaskar, Krish

Flower, John

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensorganisation, Corporate Responsibility Unternehmensethik
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen Betriebliches Rechnungswesen

Inhaltsverzeichnis

1 Introduction. Part I: The Current Status Quo and the Problem 1 The moral mess 2 Accountancy, Auditing and Financial Reporting – the current status quo 3 The failure of reform initiatives and a new beginning Part II: Theory 4 The moral responsibility of the accountant 5 Theories of the firm 6 The Hybrid theory of financial reporting 7 Examples Part III Specific Ethical issues 8 Tax avoidance and ultimate ownership issues 9 Management/shareholder remuneration and dividend policy 10 Wages, Salaries, Bonuses et al 11 Fair trade 12 Suppliers and Outsourcing 13 Social Reporting and Externalities 14 Other hot issues giving rise to additional reports.