A Structured Literature Review about the Role of Management Accountants in Sustainability Accounting and Reporting

Assessing the Contribution of Managerial Accounting in Sustainable Organizational Development in the Healthcare Industry

Sustainability and digital transformation are two phenomena influencing the activities of all organizations. Managerial accounting is an essential component of these transformations, having complex roles in decision-making to ensure sustainable development through implementing modern technologies in the accounting process. This paper studies the roles of digitized managerial accounting in organizational sustainability drivers from a decision-making perspective. The empirical investigation assesses the influence of managerial accounting on the economic, social, and environmental drivers of sustainability from the perception of 396 Romanian accountants using an artificial neural network analysis and structural equation modeling. As a result, the research provides a holistic view of the managerial accounting roles enhanced by digital technologies in the sustainable development of healthcare organizations. From the accountants' perception, the leading managerial accounting roles on organizational sustainability are enablers and reporters of the sustainable value created in the organization. Additionally, the roles of creators and preservers are seen as relevant by a significant part of the respondents. Therefore, healthcare organizations must implement a sustainability vision in managerial accounting and accounting information systems using the capabilities offered by new digital technologies.

Sustainability Accounting Studies: A Metasynthesis

This review article seeks to discuss the sustainability accounting concept by examining previously conducted studies on this topic in order to understand its thematic progress in the academic literature. This study is a metasynthesis, where, in the identification phase, 334 documents published in the Web of Science (WoS) database are selected, and in the literature review stages, 15 re-reviews are selected according to the Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) method. The results reveal that businesses, academia, and regulatory bodies do not recognize a homogeneous terminology when it comes to sustainability accounting. There is a variety of synonyms that complicate the disclosure of activities carried out by companies in the pursuit of the sustainability development goals (SDGs), with SDGs 5, 6, 13, 14, and 15 being analyzed in the academic literature in relation to the sustainability accounting concept. For future research directions, the review articles analyzed suggest examining the concrete effects produced by practices related to sustainability performance in companies, linking the relevance of understanding the sustainability reports related to the sustainability performance of companies.

The barriers to adapting accounting practices to circular economy implementation: an evidence from Ghana

Purpose

The rapid development in the circular economy phenomenon raises the prospects of potential tension between the existing accounting practices and the principles of circular economy. This study, therefore, aims to investigate the barriers to adapting the current accounting practices to circular economy implementation.

Design/methodology/approach

The study uses exploratory qualitative study design, and semi-structured interviews were conducted among professional accountants in Ghana. Purposive sampling technique was used to recruit respondents, and data saturation was achieved with 45 respondents. Data collection and analysis were undertaken concurrently and emerging themes were investigated as the study progressed.

Findings

The results indicate that there are several barriers to adapting the current accounting practices to circular economy implementation. The specific barriers as revealed in the data analysis are: accounting reporting barriers, financial/economic barriers, technological barriers, managerial/behavioral barriers, organizational barriers and institutional barriers.

Originality/value

The study responded to a global call by coalition circular accounting to identify and potentially over accounting related challenges that impedes the transition to circular economy. The study’s originality stems from the fact that it explores the issue from a developing country perspective, which has received limited attention in the extant literature.

The Changing Role of Management Accounting in Product Development: Directions to Digitalization, Sustainability, and Circularity

In an environment of multiplying uncertainties, management accounting plays an important role in addressing product development issues. Changing business models, the capabilities of companies, and increasing consumer needs require reconsideration of the directions in the product development process. The purpose of this paper is to identify the changing role of management accounting in product development, to understand how research is progressing according to such vital directions as digitalization, sustainability, and circularity. Bibliometric analysis and a systematic literature review were used to determine the main directions of the changing role of management accounting in product development. Results revealed that these directions were related to innovation, which could be considered the main driver for the changes in management accounting in product development. Furthermore, these directions are related to better company performance, which is a consequence of changes.

Sustainability assurance practices: a systematic review and future research agenda

Although firms increasingly publish sustainability reports, assuring such reports is relatively new. This study reviews the literature of sustainability assurance to evaluate the intellectual development of the field and provide recommendations for future studies. It also demonstrates the role of assurance to enhance the credibility of sustainability reports and corporate reputation. This paper systematically reviews 94 papers obtained from the Scopus database between 1993 and August 2021. Our study shows that there is an increase in the number of studies published in recent years. We also found that some countries have received limited attention, such as the USA. The scant literature examining sustainability assurance in private institutions and non-profit organisations should be reinforced. Likewise, the sustainability research also provides limited evidence on the governance debate. The vast majority of research is not based on theoretical grounds. The need for assurance of sustainability reports not only enhances the reputation but also adds more value to the organisation's planning, monitoring, and accountability. We highlight several new research suggestions that may enhance the understanding of sustainability assurance practices.

Bankruptcy Risk Prediction in Ensuring the Sustainable Operation of Agriculture Companies

In recent decades, predicting company bankruptcies and financial troubles has become a major concern for various stakeholders. Furthermore, because financially sustainable businesses are affected by numerous highly complex factors, both internal and external, the situation is even more complex. This paper applies Altman’s Z-score models; more precisely, the paper applies the initial Z-score model (a model for manufacturing companies), the Z′-score model (for companies operating in emerging markets), and the Z-score bankruptcy probability calculation. Therefore, this paper offers the results of the application of different Z-score models and the calculation of bankruptcy probability on a sample of agricultural companies listed on the Belgrade Stock Exchange in the period 2015–2019. In addition, different Z-score models are used for the same sample so that the difference between their results and application can be determined. In addition, the validity of the data published in the financial statements of the respective companies was confirmed using the Beneish M-score model with five and eight variables. The results obtained by applying Altman’s Z-score model (initial and adapted to emerging markets) indicate that a certain number of companies had impaired financial stability during the observed period, i.e., that they were in danger of bankruptcy. In addition, based on the results obtained using the Beneish M-score model, it was identified that a number of companies showed signals that indicate possible fraudulent financial reporting. Further, it was found that less than half of the observed companies reported on environmental protection in their annual reports, and they did so by providing a modest amount of information. The originality and value of the paper lies in suggesting that policymakers in the Serbian emerging markets should pay more attention to the operations of companies from the observed sector, as well as to their financial and non-financial reporting. Future research should focus on comparisons with agricultural companies from the same sector whose securities are listed on stock exchanges in the region.

The Functional Controller for Sustainable and Value Chain Management: Fashion or Need? A Sample of Job Advertisements in the COVID-19 Period

This article aims to present a profile of functional controllers created in German-speaking countries in the context of their competences and tasks for sustainable management and value chain creation. Sustainable chain management requires finding a balance between the economic, social, and environmental spheres, inside and outside the organizations, in all business functions/processes related to value chain formation. Managers for sustainable management need to have adequate and high-quality financial and non-financial information. They are crucial during the pandemic COVID-19 period. Functional controllers can provide this. Content analysis of job advertisements was used as a research method. The identification of competences was based on Cheetham and Chivers’ model. Tasks were referred to as essential functions of controlling. Descriptive statistics and the Student’s t-test with Cochran–Cox correction and the Wilcoxon-Mann–Whitney test were used to analyze the data. In terms of the studied controllers, more functional than meta competence was identified. There were more hard skills than soft skills. In terms of tasks, studied controllers are preoccupied with analysis, coordination and optimization, participation in management, definition of new tools, and reporting. The results confirm that functional controllers have an impact on sustainable development and value chain creation.