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Accounting For Sustainability: What Next? A Research Agenda

Author

Listed:
  • Cunningham Gary M.

    (Jonkoping International Business School, Jonkoping International Business School)

  • Fagerstrom Arne

    (Jonkoping International Business School, Jonkoping Sweden)

  • Hassel Lars G.

    (Abo Akademi University, Abo Akademi University)

Abstract

This working paper responds to increasing calls for more and different forms of accounting research involvement in accounting for sustainability. It seeks to provide background, clarify the accounting research issues, and suggest research methods. The background analysis indicates that accounting for sustainability must go beyond supplemental reporting of ecological and social information to include such emerging issues as integrated reporting of sustainability information along with financial reporting. Additional emerging issues are needs of users of sustainability reports, auditing and other assurance of sustainability information, and sustainability implications of financial failure, accounting and auditing failures, and lack of enforcement. Analysis of integrated reporting against traditional financial accounting theory concepts of the purpose of financial reporting and the postulates of going concern, reporting entity, monetary unit, and time period, indicates a need for substantial changes in the traditional financial accounting model if sustainability issues are to be integrated. The agenda concludes with five research issues and methods: - An accounting research framework for sustainability using general systems theory approaches that have been useful for similar emerging issues. - Reporting of sustainability information which has been the focus of most research to date, and the emerging important topic of integrated reporting. - Users of sustainable information, their uses and perceived needs, an area that has been largely neglected in research to date.- Auditing and assurance issues that are taking on greater importance as more users demand assurance for sustainability information. Issues include standards to be used and users expectations and reactions. - Financial distress and sustainability consequences of accounting and enforcement failures that are just now being recognized as sustainability issues.

Suggested Citation

  • Cunningham Gary M. & Fagerstrom Arne & Hassel Lars G., 2011. "Accounting For Sustainability: What Next? A Research Agenda," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(special), pages 97-111, July.
    • Handle: RePEc:ora:journl:v:1:y:2011:i:special:p:97-111
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    File URL: http://anale.steconomiceuoradea.ro/volume/2011/special/006.pdf
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    References listed on IDEAS

    as
    1. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808, Decembrie.
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    3. Gary M. Cunningham & Jean E. Harris, 2001. "A Heuristic Framework For Accountability Of Governmental Subunits," Public Management Review, Taylor & Francis Journals, vol. 3(2), pages 145-165, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    accounting for sustainability; integrated reporting; needs of users; audit; assurance;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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