Innovation Accounting Research Articles

Innovative Leadership for Social Impact: A Study of Benin’s Accounting, Finance and Economic Strategy

This study delves into the innovative leadership strategies employed in Benin to drive social impact and economic growth. Despite global economic challenges, Benin has emerged as a model for leveraging innovative leadership to address socioeconomic issues. Through a combination of surveys and semi-structured interviews with policymakers, business leaders, and community stakeholders, this research explores the core elements of Benin’s accounting and economic strategy. The study employed qualitative analysis methods to process the data, identifying transformative policies and initiatives that have spurred sustainable development and social progress. The findings reveal that Benin’s success is attributed to robust leadership frameworks, inclusive decision-making processes, and strategic implementations. Specifically, the research highlights how visionary leadership has effectively contributed to accounting and economic resilience, poverty reduction, and improved quality of life for citizens. Additionally, the study underscores the critical role of accounting leadership in fostering inclusive growth and provides actionable insights for policymakers and leaders aiming to replicate Benin’s success in other contexts. By adding to the academic discourse on accounting leadership and economic development, this study offers practical implications for enhancing accounting socioeconomic outcomes through innovative accounting leadership strategies.

Strategic Accounting for Innovation: Empowering Entrepreneurship in the Modern Era

This study explores how modern accounting practices drive entrepreneurial success. Through a comprehensive literature review, case study analysis of successful entrepreneurial firms, and interviews with companies that have implemented innovative accounting practices, this research uncovers the pivotal role of adaptive accounting in financial planning, risk management, and strategic decision-making. The findings highlight that companies utilizing advanced accounting tools are better equipped to handle the complexities of modern business, achieve greater financial transparency, and drive continuous innovation. The study also emphasizes the importance of accounting education and professional development in leveraging technology for these purposes. Additionally, the implications for policymakers and stakeholders underscore the necessity of a regulatory framework that supports advanced accounting practices. This study provides valuable insights for practitioners aiming to utilize modern accounting as a catalyst for business innovation and entrepreneurial success.

Blockchain Financial Statements: Innovating Financial Reporting, Accounting, and Liquidity Management

The complexity and interconnection within the financial ecosystem demand innovative solutions to improve transparency, security, and efficiency in financial reporting and liquidity management, while also reducing accounting fraud. This paper presents Blockchain Financial Statements (BFS), an innovative accounting system designed to address accounting fraud, reduce data manipulation, and misrepresentation of company financial claims, by enhancing availability of the real-time and tamper-proof accounting data, underpinned by a verifiable approach to financial transactions and reporting. The primary goal of this research is to design, develop, and validate a blockchain-based accounting prototype—the BFS system—that can automate transformation of transactional data, generated by traditional business activity into comprehensive financial statements. Incorporating a Design Science Research Methodology with Domain-Driven Design, this study constructs a BFS artefact that harmonises accounting standards with blockchain technology and business orchestration. The resulting Java implementation of the BFS system demonstrates successful integration of blockchain technology into accounting practices, showing potential in real-time validation of transactions, immutable record-keeping, and enhancement of transparency and efficiency of financial reporting. The BFS framework and implementation signify an advancement in the application of blockchain technology in accounting. It offers a functional solution that enhances transparency, accuracy, and efficiency of financial transactions between banks and businesses. This research underlines the necessity for further exploration into blockchain’s potential within accounting systems, suggesting a promising direction for future innovations in tamper-evident financial reporting and liquidity management.

Reevaluating energy progress: An in-depth policy framework of energy, urbanization, and economic development

Pakistan has challenging energy-related economic concerns, including accessibility, affordability, and sustainability, all of which significantly impact the country's economic development and growth prospects. This study seeks to uncover the intricate link between energy use, power costs, urbanization, alternative energy consumption, and economic development from 1970 to 2018. Utilizing the Autoregressive Distributed Lag (ARDL) approach, Frequency Domain Causality (FDC), and Innovative Accounting Approach (IAA), the research finds that energy use and urbanization positively impact economic development in the short and long term. Conversely, alternative energy consumption declines in the short run, while rising power costs negatively affect long-term economic development. FDC results indicate that rising power costs affect economic development in the short, medium, and long run, while urbanization has a long and short-term and energy use has a long- and medium-run impact on economic development in Pakistan. IAA aligns with ARDL and FDC hypotheses. This underscores the vital role of energy use and costs in economic activity, emphasizing the need for prudent urbanization and strategic alternative energy integration in long-term policy for Pakistan.

PENGARUH PENGGUNAAN SOFTWARE MYOB SEBAGAI MEDIA PEMBELAJARAN DAN MINAT BELAJAR SISWA TERHADAP HASIL BELAJAR AKUNTANSI PERUSAHAAN JASA DI SMA

This research is motivated persistence of low learning outcomes accounting, lack of use of computer-based instructional media that support the activity and participation of students in the learning process accounting. One way to overcome this problem is to use MYOB software as a learning medium accounting to assist the teacher in the learning condition of innovative accounting. This study aims to determine the effect of using MYOB software media on learning outcomes accounting services company, and reveal the influence of student interest to the learning outcomes of accounting and how the interaction between media use MYOB, interest in learning and learning outcomes of accounting. The method used in this study is the experimental method, the study population was all students of class XI IPS SMAN 4 Jambi. Samples were taken by random sampling technique as many as 80 students. Data collection techniques for variable interest learns using questionnaires and to learn to use the test variable results. The validity of the test was tested with ITEMAN program and for data analysis using ANOVA technique 2 Land with prerequisite distribution normality test data using Lilliefors models, and test of homogeneity of variance using Bartlett's test, with a significance level of 5% research. Results calculated with SPSS 16, shows that the distribution of the data according to the normal curve, the sample is derived from a homogeneous population. Demonstrated that: (1) the results of the study group of students who were given learning with media MYOB higher compared with a group of students who were given learning with media LKS (Fhitung 1.362> 0.05); (2) Results of study accounting services firm group of students who have a high interest in learning, better when compared with the results of studying accounting services company in the group of students who have a low interest, both of which are taught using MYOB software media and the use of media LKS because of F 0.761> 0 , 05. (3) In the group of students who have a high interest in learning, learning outcomes accounting services firms students taught using MYOB software media is higher when compared with the results of studying accounting services firms students taught using media LKS (4) In the group of students who have interest in learning low, the result of learning accounting services firms students taught using MYOB software media is higher when compared with the results of studying accounting services firms students taught using LKS media. (5) There is an interaction between media software MYOB and interest in learning on learning outcomes Fhitung services firms accounting for 0.752, for p> 0.05. Keyword: Keywords: Software MYOB, interest in learning, learning outcomes accounting services company.

THE ROLE OF THE ACCOUNTING ASPECT OF INNOVATIVE ACTIVITIES OF REGIONAL ENTERPRISES IN ENSURING THEIR ECONOMIC SUSTAINABILITY

In a world of rapid and continuous change and constant competition, innovation is becoming an important element in the sustainable development of companies and regions. A key factor in the success of innovation processes is the accounting aspect, which involves the systematisation, analysis and documentation of innovative changes. The study of this topic is becoming increasingly relevant due to the need to identify and solve problems related to innovation accounting. It aims at combining two strategically important areas – innovative development of enterprises and modern approaches to accounting and financial management. Purpose of the article. The purpose of the publication is to identify the key aspects of the problems associated with accounting for innovation activities at enterprises, as well as to reflect the role of such accounting in ensuring their economic sustainability. Methodology. The methodological basis of the work was formed by general scientific and special research methods: comparison, analysis, generalisation, graphic and tabular. The information base is based on official statistics, company reports and accounts, Internet resources and publications, and the results of the authors' own research. Practical implications. The research examines the problems of accounting for innovation activities of enterprises and makes proposals for their solution. The Ukrainian legislation regulating accounting lacks a coherent methodology for accounting for innovation costs. In order to provide the necessary analytical information on the costs of innovation activity, it is recommended to use accounts of the eighth class, opening sub-accounts of the third, fourth and higher order. Value/originality. The sources of financing and peculiarities of accounting for innovation activities of enterprises are studied, the main of which are the state resources and resources of enterprises and other business entities. Among the non-traditional sources of financing are venture capital funds, business incubators, business angels and crowdfunding.

Based on the west, training high-quality innovative accounting talents in petroleum colleges and universities

The cultivation of innovative talents is an important and necessary way for a country to improve its international competitiveness in the era of knowledge economy, and it is also the only way for petroleum colleges and universities to enhance the employment rate of students and thus enhance the regional competitiveness of petroleum colleges and universities. The cultivation of high quality and innovative accounting talents is a new mission and connotation given to petroleum universities by The Times. Based on the analysis of the current situation and existing problems of the training of accounting talents in petroleum colleges and universities, this paper puts forward some ideas and approaches such as transforming teachers' teaching ideas and constructing practical teaching guarantee system.

Research on Innovation of Accounting Teaching Mode Based on Professional Values

Accounting is a comprehensive subject. In order to better meet the needs of society, we should pay attention to the cultivation of accounting professional values in the teaching process, and combine accounting professional ethics, accounting professional spirit and professional ethics with professional values to cultivate compound talents with both professional values and high accounting professional ability. Based on professional values, this paper makes innovative research on accounting teaching mode, trying to explore the development path of innovative accounting teaching mode under the influence of professional values, thus providing a brand-new perspective for the reform of accounting education mode in China.

Innovations in accounting in Ukraine: the study of the impact of new developments

Introduction. Effective business management is impossible without establishing an efficient accounting and analytical management system. The effectiveness of modern solutions in the field of financial activity accounting for enterprises is directly related to innovations. After all, those who do not keep pace with modern technologies fall behind in successful business processes. The purpose of the paper is to analyze modern innovative solutions in the field of accounting that are widely implemented in the conditions of rapid digital transformations. Results. The paper examines the features of accounting organization in enterprises under conditions of global information progress. It has been proven that digital transformations today are the landscape for innovations in the field of enterprise activity accounting, including tax planning and financial reporting. From the analysis of scientific literature, it has been established that big data, blockchain technologies, and artificial intelligence prove their functionality and efficiency in accounting business processes. These technologies ensure speed, accuracy, continuity, and security of operational processes. From the systemic analysis of the reviewed scientific literature, there arose concerns that such widespread use of information technologies might displace humans from the labor market, as the volume of information that can be processed by means of blockchain or AI significantly exceeds human physical capabilities. However, in our opinion, such digital transformations will somewhat change the labor market, which will require personnel whose qualifications meet the needs for supporting operational processes based on innovative accounting technologies. Conclusion. The research on the topic of innovations in the field of accounting has provided a clear understanding that the accounting processes of modern business are built on digital technologies. Modern automated technical capabilities are able to optimize, accelerate, and improve the accounting processes at the enterprise. Precisely, modern digital capabilities reliably protect accounting information from unauthorized intrusions into user servers.

Navigating Sustainability Reporting Challenges in Pluralistic Societies: Insights from Balinese SMEs and the Integration of Tri Hita Karana and Tri Pramana

In pluralistic societies, navigating diverse perspectives and promoting sustainable practices pose significant challenges. This paper explores the complexities of sustainability reporting within organizations, focusing on the transition towards more mature and integrated approaches. Through qualitative research, we delve into the institutionalization of sustainability reporting, integration of innovative accounting technologies, and strategies to address challenges encountered in the reporting process. Key findings highlight the hurdles faced by Sustainability Reporting Managers, including limited experience, low external readership, and perceived redundancy by senior management. Furthermore, managers often confront constraints imposed by CEO reporting strategies, balancing the inclusion of positive narratives while maintaining sincerity in Sustainability Reports. Drawing from Balinese SMEs' experiences, we introduce the concepts of Tri Hita Karana and Tri Pramana as guiding principles for sustainable development. Tri Hita Karana emphasizes harmonious relationships with the divine, natural world, and community, while Tri Pramana focuses on leveraging human abilities for innovation and growth. Integrating these concepts into business practices promotes economic prosperity, environmental stewardship, and social well-being. In conclusion, this paper advocates for a multi-faceted approach to sustainable development, combining education, collaboration, and policy advocacy. By embracing cultural and spiritual values, organizations can foster a culture of sustainability and responsible entrepreneurship for the benefit of present and future generations.

Financial modelling of cash flow management for agribusiness security: Accounting and analytical aspect

The study related to cash flows of agricultural enterprises is relevant, since the agricultural sector is one of the key sectors of the national economy, and food security of Ukraine is becoming a strategic priority in the context of post-war reconstruction and requires effective management approaches to increase investment attractiveness and sustainable development in the field of agricultural activities. The purpose of this study was to analyse, develop, and improve the existing priority approaches to cash flow management for the financial security of agribusiness, considering the accounting and analytical aspect. Among the methods used were the statistical method, forecasting, and financial modelling methods, analytical method, and discounting method. During the study, an analytical assessment and modelling of the prospects for changes in the net cash flow of an agricultural enterprise in the medium term was carried out, the need to use actuarial accounting and reporting to attract the necessary amount of foreign investment in the development of the industry in the context of financial security of farmers was determined. The role of actuarial accounting support in managing the value of agribusiness for its financial security was investigated. The study modelled the process of cash flow management at the agricultural enterprise PJSC “Agrofirma “Provesin”. The study investigated actuarial information support from the actuarial accounting system for assessing the prospective changes in the property potential of agribusiness. It was noted that cash flow management in agriculture involves the use of innovative accounting and analytical management support, which would help to improve the image of investment attractiveness in foreign markets. The practical significance of this study lies in the development of concrete practical recommendations for the top management of agricultural enterprises to effectively attract the necessary amount of financial resources for sustainable development and post-war recovery of agribusiness

Public Health Accountability in Action: The King County Pandemic and Racism Community Advisory Group.

After a tumultuous 3 years of pandemic-, political-, and race-related unrest in the United States, the public is demanding accountability to communities of color (defined here as American Indian/Alaska Native, Asian, Black, Native Hawaiian/Pacific Islander, and Hispanic people) to rectify historic and contemporary injustices that perpetuate health inequities and threaten public health. Structural racism pervades all major societal systems and exposes people to detrimental social determinants of health. Disrupting structural racism within public health systems is essential to advancing health equity and requires organized partnerships between health departments and community leaders. As those who are most affected by structural racism, communities of color are the experts in knowing its impacts. This case study describes the King County Pandemic and Racism Community Advisory Group (PARCAG) and its use of an innovative accountability tool. The tool facilitated institutional transparency and accountability in the adoption of community recommendations. PARCAG was influential in shaping Public Health-Seattle & King County's COVID-19 and antiracism work, with 66 of 75 (88%) recommendations adopted partially or fully. For example, a fully adopted recommendation in May 2020 was to report King County COVID-19 case data by race and ethnicity, and a partially adopted recommendation was to translate COVID-19 information into additional languages. PARCAG members were recruited from a 2019 advisory board on Census 2020 and were adept at shifting to advising on COVID-19 and equitable practices and policies. Organizations that have made declarations that racism is a public health crisis should center the experiences, expertise, and leadership of communities of color in accountable ways when developing and implementing strategies to disrupt and repair the effects of structural racism and efforts to promote and protect public health.

FinTech revolution in mineral management: Exploring the nexus between technology adoption and sustainable Resource utilization in an industry 4.0 context

This study investigates the impact of FinTech adoption on sustainable mineral management policies in Australia within the context of Industry 4.0, using quarterly data from 1990Q1 to 2022Q4. Employing the ARDL-Bounds testing approach, Granger causality analysis, and innovation accounting matrix, the research finds a short-term positive association between FinTech adoption, technological readiness, and green mineral extraction. However, both in the short and long run, investment in sustainable mining technologies, government support for FinTech in mining, and environmental compliance exhibit a negative relationship with resource management. Bidirectional causality is observed between regulatory support for mining FinTech, technological finance solutions, and environmentally conscious mineral practices, while unidirectional causality exists from FinTech adoption to sustainable mining practices. Impulse response functions offer insights into the future impact of variables on eco-conscious mining policies, indicating positive influences from FinTech adoption, government support for FinTech in mining, and technological adaptability over the next decade. Conversely, eco-friendly mining investments, environmental conformity, and social license to operate will impact sustainable mineral utilization. Variance decomposition analysis highlights the most significant shocks on eco-friendly resource management over the next ten years, emphasizing the role of sustainable mining technologies, FinTech adoption, and public support for mining endeavours. In the transition to Industry 4.0, this research provides crucial insights for responsibly utilizing Australia's natural resources by leveraging financial technology and technological readiness.

STRATEGIC AND INNOVATIVE ACCOUNTING AND AUDITING SOLUTIONS TO DIVERSIFY THE STRUCTURE OF CLIMATE-ORIENTED CROP PRODUCTION: WORLD EXPERIENCE

STRATEGIC AND INNOVATIVE ACCOUNTING AND AUDITING SOLUTIONS TO DIVERSIFY THE STRUCTURE OF CLIMATE-ORIENTED CROP PRODUCTION: WORLD EXPERIENCE

Impact of Exchange Rate Shock on Foreign Direct Investment in Nigeria.

This study examines the underlying forces of foreign direct investment (FDI) response to the exchange rate shock in Nigeria, covering the period 1981 to 2021. Including long-run analysis, this study employs the VEC model innovation accounting as an econometric analysis technique. The outcomes reveal that in the long run, exchange rate appreciation, a thriving domestic investment environment, and economic size positively drive foreign inflows. Conversely, rising economic instability, particularly associated with increasing price levels, negatively impacts foreign investment. The Innovation accounting analysis indicates that FDI positively responds to shocks in exchange rates, GDP, and capital. However, the strength of these responses diminishes over time. The relationship with consumer price index (CPI) shocks appears more complex, with varying reactions over the specified horizon. Hence, policymakers are urged to prioritize exchange rate stability, promote economic growth and innovation, and enhance the domestic investment environment. Addressing economic instability and inflation is crucial, necessitating robust policies to maintain economic stability. Continuous monitoring of CPI is advised, and long-term policy planning is recommended to ensure sustained positive impacts on FDI. Additionally, international collaboration is encouraged to foster a stable global investment environment.

Aligning artificial intelligence with ethical accountancy: A global perspective on emerging frameworks

This study meticulously examines the integration of artificial intelligence (AI) into the accounting sector, revealing transformative opportunities alongside emerging ethical challenges. Drawing inspiration from established principles of the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct (AICPA, 2016), an innovative Accounting Framework for AI Ethics (AFAIE) is introduced. This framework aims to provide a tailored approach that ensures that the adoption of AI technologies aligns with the fundamental professional values of trust and integrity. It aims to address the concerns and potential risks associated with the use of AI and establish guidelines that promote accountability and transparency in the development and deployment of AI systems. The essence of this research is underscored by the advocacy for resilient ethical paradigms that are instrumental in navigating the complexities introduced by AI in accounting. Emphasizing a global perspective, this study advocates universal ethical guidelines, ensuring adaptability to specific regional and professional contexts (Association of Chartered Certified Accountants [ACCA], 2016; Bertucci et al., 2021). This synthesis of technology and ethics aims to foster an environment in which innovation thrives alongside steadfast adherence to professional integrity and responsibility.

A Reassessment of the Fertility Rate-Poverty Rate Nexus: Evidence from Nigeria

This research aimed to uncover the connection between two variables specifically within Nigeria. Using data from 1980 to 2016 and a modified Solow model, researchers identified a clear positive relationship between high fertility rates and poverty levels in the country. The study indicates that the causality primarily stems from fertility rates leading to poverty, emphasizing the necessity for interventions to address these challenges. The absence of social safety nets and support programs in Nigeria contributes to larger family sizes, resulting in inadequate healthcare, limited educational opportunities, and restricted economic prospects. These results highlight the critical need to revisit and strengthen the National Population Policy to effectively tackle these issues, emphasizing the essential role of government leadership in driving these much-needed reforms. The correlation between the main variables was established using the SVAR and innovation accounting method. The findings reveal a significant and strong positive correlation between poverty and fertility rate, with this correlation surpassing that of other variables examined. The study suggests that this may be attributed to the lack of social safety nets and family support programs in Nigeria, leading to the consequences of larger family sizes, including inadequate healthcare, limited access to education, lack of economic opportunities, and restricted social mobility. Based on these empirical findings, an immediate reassessment and revitalization of the National Population Policy (NPP) are warranted, with strong leadership from the Federal Government required from both the Executive and the National Assembly.

Designing a biodiversity credit accounting framework for environmental investment and financing

<p>Achieving biodiversity goals and targets poses a significant financial challenge due to biodiversity externalities. Efforts to address this challenge have focused on market-based solutions for biodiversity offsets to bridge the financial gap. However, accurately calculating biodiversity credits remains a barrier to promoting and implementing these solutions. Here, we propose an innovative accounting framework for biodiversity credits based on the emergy accounting approach. Emergy (spelled with an m) represents the biosphere work performed over time and space (ecosystem services) that supports species, human societies and economies, and is measured in units of solar equivalent energy (emergy, sej). This unified accounting method considers the perspectives of ecosystem productivity, ecosystem networks, and human well-being. We evaluated the biodiversity credits in 157 restoration projects and found several advantages in terms of differentiating project types and setting thresholds for biodiversity credit increases in restoration projects. Only 66% of the projects achieved biodiversity credit increases, and only 29% of the generated credit can be traded on the market. This study provides a scientific foundation for decision-making in ecosystem restoration management and contributes to broader biodiversity conservation solutions as well as to bridging the financial gap in achieving biodiversity goals.</p>

New accounting paradigm in agricultural enterprises: physiocratic bases and principles of sustainability

Formation of the new accounting paradigm is essential to meet current informational needs in the context of solving global societal issues. The scientific contributions of the Physiocrats hold value in addressing modern human challenges related to energy and climate crises. The article aims to identify the Physiocratic bases and principles of sustainability for forming the new accounting paradigm. The methodological foundation of the research is the dialectical method of cognition, using a systematic approach. Induction and analysis facilitated the study of the works of V. Vernadsky and M. Rudenko to uncover ideas regarding the establishment of the new accounting paradigm. Synthesis and analogy revealed the goals of sustainable development, considered in forming new conceptual and methodological foundations of accounting science. Generalization contributed to forming conclusions about the main ideas that will shape the Physiocratic doctrine of the new accounting paradigm. The scientific achievements of V. Vernadsky were analyzed, and ideas were formulated that influenced the formation of the accounting science paradigm: accounting for intellectual capital as a «geological force» impacting the biosphere; accounting for social connections as an element of internal goodwill in the sociosphere. It was found that the main scientific theses of M. Rudenko that can be used in forming the accounting paradigm in agricultural enterprises are: bioenergy – a priority type of renewable energy due to the combination of solar energy and human labor; bioenergetic assets as an element of «progress energy» in the global climate scenario. It is determined that the fundamental bases of the new accounting paradigm are the five principles of sustainable development: clean and affordable energy; industry, innovation, and infrastructure; responsible consumption and production; climate action; life on land. The transformation of the conceptual and methodological foundations of accounting in accordance with the stated principles will contribute to addressing global economic challenges, the climate and energy crises, and the preservation of natural capital. Further scientific searches will be directed towards developing the theory and methodology of accounting for bioenergetic assets as an innovative accounting object.

Contemporaneous causality among office property prices of major Chinese cities with vector error correction modeling and directed acyclic graphs

PurposeThis study aims to investigate dynamic relations among office property price indices of 10 major cities in China for the years 2005–2021.Design/methodology/approachUsing monthly data, the authors adopt vector error correction modeling and the directed acyclic graph for the characterization of contemporaneous causality among the 10 indices.FindingsThe PC algorithm identifies the causal pattern, and the linear non-Gaussian acyclic model algorithm further determines the causal path from which we perform innovation accounting analysis. Sophisticated price dynamics are found in price adjustment processes following price shocks, which are generally dominated by the top tier of cities.Originality/valueThis suggests that policies on office property prices, in the long run, might need to be planned with particular attention paid to the top tier of cities.