Journal of Accounting and Management Information Systems (JAMIS)

Accounting information from traditional towards socioeconomic and environmental requirements

24/2008 ,   p22..40

Camelia Iuliana LUNGU
Cornelia DASCĂLU

Keywords:   Financial reports, accounting information, risks and uncertainties, socioeconomic and environmental reporting standards

The paper is based on the idea that besides the principles exposed in traditional accounting, the set of principles that underpin the role of the society and of the environment in a sustainable development context will develop a holistic vision of the economic entity.
Our paper aims the participation to the professional judgment construction and modelling, according to free manifestation of entity’s accounting and reporting policies and proposes new approaches related to corporate reporting and environmental reporting standards. Given the established objectives, our research will be both quantitative and qualitative because quantitative data enumerates, and qualitative data explains. The data coming from accounting literature, accounting settlers’ requirements and entities’ experience are gathered, analyzed and interpreted in order to bring to light an underlying coherence and sense for the new reporting perspective.
We complete our research with an archival study on Europe’s Top 50 included in Fortune Global 500 Classification and, as result, we propose a set of information to be presented on financial reports regarding the information (facts, risks and uncertainties) generated by socioeconomic and environmental factors.