The Role of Sustainable Accounting in Managing the Financial Position to Support the Sustainable Development of Financial Companies in Iraq
Keywords:
Sustainable Development, Financial or Non-Financial, Iraqi Industrial Companies, Environmental Impacts
Abstract
Purpose: This study aimed to find out how Iraqi companies use sustainable management accounting techniques (MATs). The study also looked at MATs' contribution to sustainable development.
Theoretical framework: The three aspects of sustainability—integrative, social, and environmental—are the basis for the research, which examines the effects of numerous variables, such as the frequency of technique use.
Design/methodology/approach: The purpose and frequency of usage of sustainable MATs in Iraqi businesses over the period of March and April 2021 were examined in this study by using a quantitative methodology. In this research, sampling approach was utilized.
Findings: Both inferential and descriptive statistical techniques were utilized to assess the findings of the online survey, which was conducted utilizing surveys from the target population. It is clear from the limited usage of sustainability measures in management accounting that firms in Iraq do not completely integrate sustainability issues into their management accounting systems. The vast majority of businesses use at least one strategy from each of the three categories—inclusive, social, and green
Research, Practical & Social implications: MAT is used for a variety of purposes including, but not limited to, external reporting, internal compliance monitoring, and to some extent internal decision-making.
Originality/value: This study is among the earliest to investigate if it is feasible for Iraq to sustain its external debt financially using an econometric method.
References
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23. Mokhtar, N., Jusoh, R. &Zulkifli, N. (2016). Corporate characteristics and environmental management accounting (EMA) implementation: evidence from Malaysian public listed companies (PLCs). Journal of Cleaner Production, 136, 111-122.
24. Morioka, S. & Carvalho, M. (2016). Measuring sustainability in practice: exploring the inclusion of sustainability into corporate performance systems in Brazilian case studies. Journal of Cleaner Production, 136, 123-133. Ness, B., Urbel-Piirsalu, E., Anderberg, S. & Olsson, L. (2007). Categorising tools for sustainability assessment. Ecological economics, 60(3), 498-508.
25. Oji, O. N. E., Iwu, C. G. &Tengeh, R. (2017). Social media adoption challenges of small businesses: the case of restaurants in the Cape Metropole, South. African Journal of Hospitality, Tourism and Leisure, 6(4).
26. Owen, D. (2008). Chronicles of wasted time?. Accounting, Auditing &AccountabilityJournal, 21(2), 240-267.
27. Ziolo M, Filipiak BZ, Bąk I, Cheba K. How to Design More Sustainable Financial Systems: The Roles of Environmental, Social, and Governance Factors in the Decision-Making Process. Sustainability. 2019; 11(20):5604
28. Gerster, R.; Sustainable Finance: Achievements, Challenges, Outlook. Striking a Balance Ahead of Rio+20 in 2012
29. Richardson, B.J. Equator Principles, The Voluntary Approach to Environmentally Sustainable Finance. Eur. Environ. Law Rev. 2005, 14, 280.
30. Snoeijer, E., Moreira, K. D., Rodrigues, L. M. A., & Martins, C. B. (2021). A Gestão da Informação no Processo de Avaliação da Capes Associada ao Assessoramento Secretarial.International Journal of Professional Business Review, 6(1), e0118. https://doi.org/10.26668/businessreview/2021.v6i1.118
A, Y. S., Gunadi, B., C, A. W., & D, R. M. (2022). COVID-19 PANDEMIC Article history : Received 04 October 2022 Keywords : Workload ; Work environment ; Work motivation ; Employee Performance Analysis Along Work from Home During the Covid-19 Pandemic. 1–24. https://doi.org/https://doi.org/10.26668/businessreview/2022.v7i6.e459
3. Almagtome, A., Khaghaany, M., &Önce, S. (2020). Corporate Governance Quality, Stakeholders’ Pressure, and Sustainable Development: An Integrated Approach. International Journal of Mathematical, Engineering and Management Sciences, 5(6), 1077-1090.
4. Crutzen, N., Zvezdov, D. &Schaltegger, S. (2017). Sustainability and management control. Exploring and theorizing control patterns in large European firms. Journal of Cleaner Production, 143, 1291-1301.
5. Hameedi, K.S., Al-Fatlawi, Q.A., Ali, M.N., &Almagtome, A.H. (2021). Financial Performance Reporting, IFRS Implementation, and Accounting Information: Evidence from Iraqi Banking Sector. The Journal of Asian Finance, Economics and Business, 8(3), 1083-1094.
6. Hamdan, K. H. (2014). The role of environmental auditing in sustainable development. Baghdad College of Economic Sciences University, 409-430.
7. Alabdullah, T. T. Y. (2018). The relationship between ownership structure and firm financial performance. Benchmarking: An International Journal, 25(1), 319-333.
8. Alabdullah, T. T. Y., Laadjal, A., Ries, E., & Al-Asadi, Y. A. A. (2018). Board Features and Capital Structure in Emerging Markets. Journal of Advanced Management Science, 6 (2).
9. Alabdullah, T. T. Y., Nor, M. I., & Ahmed, E. R. (2018). The determination of firm performance in emerging nations: Do board size and firm size matter? Management, 5(3), 57-
10. Alabdullah, T. T. Y & Ahmed, E. R. (2020). Audit Committee Impact on Corporate Profitability in Oman Companies: an Auditing and Management Accounting Perspective. RisetAkuntansi dan Keuangan Indonesia, Vol. 5, no. 2, pp. 121- 128.
11. Chang, H.C., (2013)." Environmental management accounting in the Taiwanese higher education sector Issues and opportunities", International Journal of Sustainability in Higher Education Vol. 14. No .2.p 134.
12. Deegan, C. (2002), “Environmental Management Accounting Project”, Case Study Subject: G H Michel & Sons, the Commonwealth of Australia, EPA Ferreira, Aldonio, Moulang, Carlym and Hendro, Bayu. (2010).
13. Environmental management accounting and innovation: an exploratory analysis, Accounting, Auditing and Accountability Journal, 23 (7): 920-948 IFAC (International Federation of Accountants), (2005), “International Guidance Document - Environmental Management Accounting”, USA, New York.
14. Larojan, C ,Thevaruban J, ( 2014), “Impact of Environmental Management Accounting Practices On Financial Performance Of Listed Manufacturing Companies in Srilanka ” 3rd International Conference On Management and Economics, 26 - 27 February
15. Benguetib, A., &Gasmi, S. (2016). Auditing in Algeria within the Framework of Implementing Corporate Governance. Academic Journal of Interdisciplinary Studies, 5(2), 21-21.
David, F., & David, F.R. (2020). Strategic management: A competitive advantage approach, concepts and cases. In: Pearson–Prentice Hall Upper Saddle River, NJ, USA. Dong, Y., Firth, M., Hou, W., & Yang, W. (2016).
17. Evaluating the performance of Chinese commercial banks: A comparative analysis of different types of banks. European Journal of Operational Research, 252(1), 280-295.
18. Gayathri, S. (2015). A comparative study of corporate governance practices of selected public and private sector commercial banks in India. International Journal of Business and Administration Research Review, 1(12), 114-119.
19. Haddad, A.E., Sbeiti, W.M., &Qasim, A. (2017). Accounting legislation, corporate governance codes and disclosure in Jordan: a review. International Journal of Law and Management, 59(1), 147-176.
20. Hajela, T. (2009). Money, Banking & International Trade: Ane Books Pvt Ltd. Hameedi, K.S.,
21. Al-Fatlawi, Q.A., Ali, M.N., &Almagtome, A.H. (2021). Financial Performance Reporting, IFRS Implementation, and Accounting Information: Evidence from Iraqi Banking Sector. The Journal of Asian Finance, Economics and Business, 8(3), 1083-1094.
22. Milne, M., Tregidga, H. & Walton, S. (2009). Words not actions! The ideological role of sustainable development reporting. Accounting, Auditing & Accountability Journal, 22(8), 1211-1257.
23. Mokhtar, N., Jusoh, R. &Zulkifli, N. (2016). Corporate characteristics and environmental management accounting (EMA) implementation: evidence from Malaysian public listed companies (PLCs). Journal of Cleaner Production, 136, 111-122.
24. Morioka, S. & Carvalho, M. (2016). Measuring sustainability in practice: exploring the inclusion of sustainability into corporate performance systems in Brazilian case studies. Journal of Cleaner Production, 136, 123-133. Ness, B., Urbel-Piirsalu, E., Anderberg, S. & Olsson, L. (2007). Categorising tools for sustainability assessment. Ecological economics, 60(3), 498-508.
25. Oji, O. N. E., Iwu, C. G. &Tengeh, R. (2017). Social media adoption challenges of small businesses: the case of restaurants in the Cape Metropole, South. African Journal of Hospitality, Tourism and Leisure, 6(4).
26. Owen, D. (2008). Chronicles of wasted time?. Accounting, Auditing &AccountabilityJournal, 21(2), 240-267.
27. Ziolo M, Filipiak BZ, Bąk I, Cheba K. How to Design More Sustainable Financial Systems: The Roles of Environmental, Social, and Governance Factors in the Decision-Making Process. Sustainability. 2019; 11(20):5604
28. Gerster, R.; Sustainable Finance: Achievements, Challenges, Outlook. Striking a Balance Ahead of Rio+20 in 2012
29. Richardson, B.J. Equator Principles, The Voluntary Approach to Environmentally Sustainable Finance. Eur. Environ. Law Rev. 2005, 14, 280.
30. Snoeijer, E., Moreira, K. D., Rodrigues, L. M. A., & Martins, C. B. (2021). A Gestão da Informação no Processo de Avaliação da Capes Associada ao Assessoramento Secretarial.International Journal of Professional Business Review, 6(1), e0118. https://doi.org/10.26668/businessreview/2021.v6i1.118
Published
2023-10-16
How to Cite
Lecturer: Youssef abdel salam abdi. (2023). The Role of Sustainable Accounting in Managing the Financial Position to Support the Sustainable Development of Financial Companies in Iraq. International Journal on Economics, Finance and Sustainable Development, 5(10), 69-84. https://doi.org/10.31149/ijefsd.v5i10.4880
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