Abstract
An integrated approach to the enterprise value-based management (VBM) provides a precise assessment of all accounting entities. The implementation of such an approach allows determining the value of objects that do not have a material form (intangible assets), but have a significant impact on the enterprise value. The growing role of accounting data in enterprise value formation and management determines the necessity of the research. Thus, the article aims to investigate the effect of integrated reporting implementation on the VBM at the Ukrainian enterprises. Based on recent scientific researches, the study substantiates that the VBM approach should be based on an integrated reporting concept and proves the necessity of transition from the traditional accounting model to sustainability accounting in Ukraine. The findings reveal the approach of integrated reporting incorporation into the enterprise VBM system. The authors offer the concept of creating an integrated reporting model in Ukraine that considers economic and legal criteria, basic and qualitative principles, and production, human, financial, social, natural, and intellectual capital.
Highlights
Sustainable development of business entities, as a complex and dynamic system, requires relevant and reliable information, including enterprise value
According to the data published in the report of the International Integrated Reporting Council (IIRC) in 2017, about 1,600 organizations from 64 countries have implemented integrated reporting: in Japan – 279 companies, in Australia – more than 50, in the UK – about 130, in Malaysia – 35, etc
The prepara- support mechanisms of interaction and commution of integrated reporting affects the quality of nication, for instance, through the formation of the company’s strategic management, consider- organizational and functional integrated circuit ing the tasks of social responsibility or sustainable assembly statements; 4) approval of the working development
Summary
Sustainable development of business entities, as a complex and dynamic system, requires relevant and reliable information, including enterprise value. The majority of prepared non-financial reports formed based on the vision of owners, senior management, and employees, have different content, format, and structure of the presentation of their results This is due to the lack of the unified concept of integrated reporting, deliberate slowness of implementation riskiness disclosure of sensitive information, difficulties in obtaining and systematizing the data, etc. The process of global integrated reporting imple- accounting information was studied by Do Hoon mentation indicates significant progress in support- Ki, Wook Bin Leem, and Jee Hoon Yuk (2019) Eccles, Krzus, and Solano (2019) conducted a de- ried out by large audit companies (Deloitte, EY, PWC, tailed analysis of the preparation of integrated re- KPMG) and professional associations They studied the PPC), specialized organizations (IIRC, WBCSD), etc.
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