Conceptual Aspects of Accounting Transformation in the Context of the Imperatives of Sustainable Development

Abstract

In the modern world, the tendency to increase the importance of the principles of sustainable development is becoming more and more stable. The growing public awareness of the need to achieve sustainable development goals causes increased pressure on businesses to disclose information about their impact on society and the environment. This circumstance increases the need for companies to be accountable and expand their accounting and analytical work. This contributes to the objective expansion of the tasks of the information and analytical support systems in companies, including the accounting system. The purpose of this study is to assess the impact of the increasing need for general accountability on the development of accounting systems, thus emphasizing the need to take into account the sustainable development of the company. This study considers accountability as one of the most important tasks of transparent business functioning as well as a necessary condition for achieving sustainable development goals. The article proves the thesis that accounting methods should be developed to form, summarize, and analyze information about initiatives, processes, and the use of resources to increase the sustainability of the company’s development and to meet the requirements of key stakeholder groups, including in the direction of the impact of business decisions on society and the environment.