Sustainable Development and Accounting Practice: The Impact and Future Directions of International Standards
Year: 2024
Type: article
Abstract: This paper delves into the theme of "Sustainable Development and Accounting Practices: The Impact of International Standards and Future Directions." Firstly, it reviews the fundamental principles of sustainable development, emphasizing its coverage across economic, social, and environmental dimensions. In the theoretical foundation section, the paper analyzes the close relationship between accounting practices and sustainable development. Subsequently, through an in-depth analysis of the International Financial Reporting Standards (IFRS) and the International Integrated Reporting Framework (IIRC), it explores the influence of international standards on sustainable development. The paper identifies challenges within sustainable development and accounting practices, including issues of data quality and inadequate regulations. It proposes future directions and recommendations, encompassing the evolution of international standards, the application of technological innovations, and the enhancement of skills for accounting professionals. Lastly, the paper explores the drive for internal training and knowledge sharing as an effective pathway for organizational development. In conclusion, this research aims to provide theoretical guidance and practical suggestions for enterprises to actively engage in global sustainable development.
DOI: 10.54097/zqpaps64
Author: Fangfei Song
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4404545392