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The Connection between IAS/IFRS and Social Responsibility

Management Dynamics in the Knowledge Economy

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Field Value
 
Title The Connection between IAS/IFRS and Social Responsibility
 
Creator AMELIO, Stefano; University of Bergamo
 
Description The aim of the paper is to evaluate the degree of social responsibility arising from the statement of comprehensive income prepared according to IAS/IFRS, to demonstrate whether the values obtained from prospects and from the calculation of the indicators are sufficient to analyze the Company's performance from the perspective of social responsibility and sustainable value or not. In order to achieve the objective of harmonization, the European Union adopted the IAS/IFRS developed by the International Accounting Standards Board (IASB). The research is divided into two sections and the approach used is mainly theoretical and qualitative. In the first part, the financial statements to be prepared according to IAS 1 and IAS 7 and, in particular, the so called statement of profit or loss and other comprehensive income for the period are analyzed by underling the function of the same and by presenting some financial performance indicators. Then, the research highlights how these values obtained are not useful to communicate the company's strategy in terms of social responsibility and sustainable value. In the second part the analyses exposes the concept of social balance. According to the social responsibility view the IAS/IFRS financial statements should be accompanied by the social balance. It becomes crucial to complete the set of financial statements stated from IAS 1 with a social balance as well as the same IAS 1 contemplates. For this reason it is possible to say that the connection between IAS/IFRS and social responsibility is weak.
 
Publisher Faculty of Management, National University of Political Studies and Public Administration
 
Contributor —
 
Date 2016-05-24
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://www.managementdynamics.ro/index.php/journal/article/view/173
 
Source Management Dynamics in the Knowledge Economy; Vol 4, No 1 (2016): Issue 11; 7-30
2392-8042
2286-2668
 
Language eng
 
Relation http://www.managementdynamics.ro/index.php/journal/article/view/173/110
 
Rights Copyright (c) 2016 Management Dynamics in the Knowledge Economy
http://creativecommons.org/licenses/by-nc/4.0