The traditional approach of financial statements reporting has lost the instrumental ability to impose the necessary dimensions of information in the process of understanding the phenomenon of corporate reporting in the context of sustainability. On the one hand, economic entities are seeking stable market in a dynamic and competitive knowledge based society confronted with new facets of business risk generated by the global crisis. On the other hand, standardization organisations increasingly support the idea that the descriptive information is the key for qualitative reporting.
Research summarized in this paper supports and argues, using theoretical and practical perspectives, that the financial statements as traditional accounting tools, have to be reconfigured in a broader context under the influence of contingent social and environmental factors.
This paper is a useful tool for both master and doctoral students, teachers in higher education institutions and professionals interested in this field. Readers will find within this book a number of studies and researches aimed at repositioning the financial reporting in terms of risks and uncertainties generated by social and environmental factors.