Driven by external pressure, enterprises have begun to recognize the importance of sustainability. However, current sustainability reporting systems require improvements to include ways of measuring sustainability. This article presents a framework of a sustainable balance sheet (SBS) that is an extended version of a traditional balance sheet. The conceptual tools of this SBS framework come from relevant parts of resource theory and Vatter's fund theory (Vatter, 1947).
Get full access to this article
View all access options for this article.
References
1.
BuchholzH., EberleT., KlevesathM., JürgensA., BealD., et al. (2020). Forward thinking for sustainable business value: A new method for impact valuation. Sustainability, 12(20), 1-16. https://doi.org/10.3390/su12208420
2.
Carlson IngdahlT., & PåhlssonB. (2015). Redovisningens roll för hållbar utveckling [Accounting's relevance for sustainable development]. Högskolan i Borås.
3.
CluneC., & O'DwyerB. (2020). Organizing dissonance through institutional work: The embedding of social and environmental accountability in an investment field. Accounting, Organizations and Society, 85, 101–130.
4.
EngertS., & BaumgartnerR. J. (2016). Corporate sustainability strategy—Bridging the gap between formulation and implementation. Journal of Cleaner Production, 113, 822–834. doi.org/10.1016/j.jclepro.2015.11.094
5.
European Commission. (2017, June 26). Commissions guidelines on non-financial reporting. ec.europa.eu/info/publications/non-financial-reporting-guidelines_en
EuropeanParliament, Council of the EuropeanUnion. (2014, October 22). Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups. Document 32 014L0095. eur-lex.europa.eu/eli/dir/2014/95/oj
8.
FagerströmA. (2020). Accounting as a tool for sustainable business. In (T. Stenheim, & K. Birkeland (Eds.), Friendship book to Professor Hans Robert Schwenke, 70 years celebration, pp. 12-30. Gyldendal Akademisk.
9.
FagerströmA., HartwigF., & CunninghamG. M. (2017). Accounting and auditing of sustainability: Sustainable indicator accounting (SIA). Sustainability: The Journal of Record, 10(1), 45–52. doi.org/10.1089/sus.2017.29080.af
10.
HartwigH., KågströmJ., & FagerströmA. (2019). Sustainability accounting for externalities. Sustainability, 12(3), 158-162. DOI 10.1089/sus.2019.0009
11.
HuntS. D., & MorganR. M. (1995). The comparative advantage theory of competition. The Journal of Marketing, 59(2), 1-15.
12.
LittletonA. C. (1933). Accounting evolution to 1900. American Institute Publishing Co.
13.
MähönenJ. (2020). Comprehensive approach to relevant and reliable reporting in Europe: A dream impossible? Sustainability 12(52-77), 1–38. doi.org/10.3390/su12135277
TinkerA. M., MerinoB. D., & NeimarkM. D. (1982). The normative origins of positive theories: Ideology and accounting thought. Accounting, Organizations and Society, 7(2), 167-200.
22.
United Nations Global Compact. (2019). The decade to deliver. A call to business action. UN Global Compact-Accenture 2019 CEO Study. www.unglobalcompact.org/library/5715
23.
VatterW. J. (1947). The fund theory of accounting and its implications for financial reports. University of Chicago Press.
24.
VatterW. J. (1953). Fund flows and fund statements. The Journal of Business of the University of Chicago, 26(1), 15-25.
25.
WernerfeltB. (1984). A resource-based view of the firm. Strategic Management Journal 5(2), 171-180.
