The Concept of Sustainable Development in Accounting

Abstract: The concept of sustainable economic development is established in accounting as a direction to reflect vitally important global issues. This presupposes the presentation of primarily non-financial information about these problems in the company’s activities to meet the needs of stakeholders. At the end of 2022, the Sustainability Accountability Directive of companies was adopted, which institutionalized the concept. Current issues for sustainable growth relate to ecology, governance and social development. Requirements are introduced for disclosure of information on environmental, social and governance risks and actions to address them. The report presents a view of the accounting aspect of the concept of sustainable economic development.

Key words: accounting for sustainable development, directive, non-financial information, conceptual essence

JEL codes: М41, М49