Journal of Business & Economic Policy

ISSN 2375-0766 (Print), 2375-0774 (Online) DOI: 10.30845/jbep

Integrated Financial Reporting & Management Accounting: An Opportunity for Strategic Leadership
Dr. Sean Stein Smith

Integrated financial reporting, promoted and supported by the International Integrated Reporting Council (IIRC), appears positioned to generate opportunities for management and management accountants to improve the decision making process. Taking into account the different sources of information available to management, the variety of forces influencing the competitive landscape, and stakeholder requirements provide both challenges and opportunities. Management accountants, whose information forms the basis for strategic planning, are uniquely well positioned to leverage advances in analytical technology and stakeholder demands to assist in implementing more effective and comprehensive strategic decisions. Specifically, the multiple types of capital embedded within the integrated reporting framework form a quantitative framework from which better insights can be derived. Supported by academic research, market conversations, and real world examples of organizations leveraging improved data, integrated reporting appears to offer a tangible opportunity for accountants to bridge the gap between data, strategy, and organizational leadership.

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