ZNAČAJ RAČUNOVODSTVA ODGOVORNOSTI ZA USPJEH RAČUNOVODSTVA ODRŽIVOSTI
THE IMPORTANCE OF RESPONSIBILITY ACCOUNTING FOR THE SUCCESS OF SUSTAINABILITY ACCOUNTING

Author(s): Vinko Belak
Subject(s): Business Economy / Management, Energy and Environmental Studies, Environmental interactions, Accounting - Business Administration
Published by: Finrar d.o.o Banja Luka
Keywords: responsibility accounting; sustainability accounting; corporate responsibility; individual responsibility; quantitative indicators; qualitative indicators; financial indicators;
Summary/Abstract: After the EU Commission adopted the Corporate Sustainability Reporting Directive (CSRD) and adopted the European Sustainability Reporting Standards (ESRS), the popularity of the term „sustainability accounting” has increased dramatically. The EU Corporate Sustainability Reporting Directive (CSRD) introduces several important changes in the disclosure of: – environmental, – social and – governance information. This implies that reporting entities will have to prepare their reports according to European sustainability reporting standards, which is why the term „sustainability accounting” was created, which has a much broader scope than classic financial reporting By adopting mandatory standards for reporting on multiple areas of sustainability in the direction of environmental, social and governance information, it is sought to ensure that this information becomes as important as financial information. More precisely, the adopted sustainability standards (ESRS) require business entities to provide information on: – management, business model and strategy – assessment of the significance of individual information – management of impacts, risks and opportunities (through policies and activities) – quantitative indicators and targets. Particularly important information is the impact of climate change on business, the impact of the entity on water, air and soil pollution, as well as business behavior that can be key to the successful implementation of sustainability accounting. Namely, if reporting within responsibility accounting is reduced only to providing information to sustainability reporting standards, this does not guarantee any progress in terms of the goal to be achieved by sustainability reporting in accordance with the Corporate Sustainability Reporting Directive (CSRD). Only when responsibility accounting is incorporated into sustainability accounting can the success of the entire concept of sustainability be expected. Until recently, responsibility accounting had mainly financial goals. This means that the concept in question should develop responsibility accounting, which, in addition to financial goals, will also include goals for improvement in the area of sustainability. The key point of the new concept of responsibility accounting is that for each significant segment of sustainability, a responsible person is assigned who has the task and responsibility for improving that segment. This paper is dedicated to this.

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