Учёт. Анализ. Аудит (Jan 2019)
Qualitative characteristics of informationin integrated reporting
Abstract
Subject. The subject of this research is limited to identifying the qualitative characteristics of the International Concept of Integrated Reporting. These characteristics should comply with the with the qualitative characteristics of information described in the Conceptual Integrated Reporting Framework but are based on the basic principles of integrated reporting and define its content. Purpose. The purpose of the study is to prove the necessity to harmonize the requirements to the integrated reporting information. This information is defined in the International Standard of Integrated Reporting as basic principles. Meanwhile qualitative characteristics of information are of more dynamic nature and thus allow for consequent improvement of the information in question as the business accounting model which will form the content of integrated reporting is developed. Methodology. The methodology of the study of the qualitative characteristics of integrated reporting is based on the theory of Positive Economics, the theory of economic art, the theory of capital and the concept of sustainable development, which predetermine the information support of the processes of value creation when particular kinds of capitals of an organization are transformed in short, medium and long term periods. Results. In contrast to the qualitative characteristics of information set out in the Conceptual framework for financial reporting the article, when considering the qualitative characteristics of information in integrated reporting, focuses on the fact that the models of business accounting and integrated reporting are targeted on recording the results of the value creation over the time processes when particular kinds of capitals of an organization are transformed. This will require the new approaches to assessing the information, which should define the contents of an integrated report. The article attempts to convert the leading principles of integrated reporting into qualitative characteristics of information which may serve as a basis for making business accounting models of value creation and generating the integrated report. Conclusions. Qualitative characteristics of information in integrated reporting are more dynamic than the basic principles, which can and must be constantly refined and improved in the process of creating a model of business accounting and forming integrated reports on its basis.
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