Economy, finances, management: topical issues of science and practical activity

SCIENTIFIC JOURNALS OF VINNITSA NATIONAL AGRARIAN UNIVERSITY

Issue №: 1 (71)

Published: 2025.05.14

DOI: 10.37128/2411-4413-2025-1

Description:
The journal deals with the issues of efficiency of functioning of the national economics and organizational forms of management of the national economy. Attention is paid to the problems of marketing, management and efficiency of production and economic activity of agrarian enterprises. The issues of public administration and administration, accounting and taxation, banking and insurance, forecasting and modeling of economic processes, foreign economic activity, commodity flows of economic entities and their infrastructure support.

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TRANSFORMATION OF THE ACCOUNTING AND REPORTING SYSTEM UNDER THE INFLUENCE OF ESG PRIORITIES AND DEVELOPMENT OF CORPORATE STRUCTURES: THEORETICAL ASPECT

DOI: 10.37128/2411-4413-2025-1-10

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KOVAL Natalia – Candidate of Economics, Associate Professor of the Department of Agrarian Management and Marketing, Vinnytsia National Agrarian University (21008, Vinnytsia, 3, Soniachna Str., е-mail: natkov@i.ua ).

SLOBODIANIUK Serhii – Postgraduate Student of the Second Year of Study of the Department of Accounting and Taxation, Vinnytsia National Agrarian University (21008, Vinnytsia, 3, Soniachna Str., e-mail: serhii.slobodianiuk@gmail.com).

Annotation

The study reveals the factors influencing the development of corporate structures on the process of implementing ESG priorities in the accounting and reporting system, identifying the existing barriers and searching for the effective mechanisms for their integration into modern business practice.

The relationship between the development of corporate structures and the implementation of ESG approaches in the accounting and reporting system is investigated, which allows identifying key challenges and opportunities facing business on the way to increase transparency, responsibility and trust from stakeholders. The article examines three key areas of responsible and sustainable business development, investors' interest in information about ESG, taking into account trends in the development of corporate structures.

The authors note that for modern corporate structures, the implementation of ESG principles is not only a response to external pressure from investors and society, but a strategic necessity that determines sustainable business development, provides access to capital, builds trust in the market and increases the overall value of the company in the long term; present the main components of ESG implementation for corporate structures.

In addition, the article provides an analytical comparison of the terms ESG, CSR, Sustainable development, Impact investing, which are very often used in the context of the implementation of various standards and frameworks. It is noted that the changes in the accounting and reporting system in response to ESG benchmarks have become an important trend for business around the world. They are due to growing pressure from investors, regulators, consumers and society as a whole, who expect transparency, responsibility and sustainable development from companies. The study presents the main key areas of changes in the accounting and reporting system in response to ESG requirements.

The main tasks for the implementation of ESG benchmarks for companies are systematized.

The implementation of ESG (environmental, social and governance standards) gives Ukrainian companies competitive advantages both in the domestic market and abroad. The author identifies and systematizes the challenges of implementing ESG in Ukraine and offers recommendations for overcoming these challenges.

Keywords: ESG priorities, corporate structures, accounting system, ESG reporting, CSR, corporate governance policy

List of references

1. Eccles, R., & Krzus, M. (2010). One Report: Integrated Reporting for Sustainable Strategy. New York: John Wiley & Sons [in English].

2. Analiz ESG standartiv: rekomendatsii dlia ukrainskoho biznesu [Analysis of ESG standards: recommendations for Ukrainian businesses]. (2024). Ofis Zelenoho Perekhodu – Green Transition Office. gto.dixigroup.org. Retrieved from: https://gto.dixigroup.org/assets/images/files/GTO%20- %20%D0%90%D0%BD%D0%B0%D0%BB%D1%96%D0%B7%20ESG%20%D1%81%D1%82%D0%B0%D0%BD%D0%B4%D0%B0%D1%80%D1%82%D1%96%D0%B2%202-10.pdf [in Ukrainian].

3. Holovchak, H.V. (2024). Otsinka efektyvnosti ESG-zvitnosti yak instrumentu prozorosti biznesu v umovakh hlobalizatsii [Assessing the effectiveness of ESG reporting as a tool for business transparency in the context of globalization]. Ekonomika ta suspilstvo – Economy and Society, 67. DOI: https://doi.org/10.32782/2524-0072/2024-67-28 Retrieved from: https://economyandsociety.in.ua/index.php/journal/article/view/4708/4649 [in Ukrainian].

4. Hrod, M.I., & Reznikova, N.V. (2023). Tsyrkuliarna ekonomika u kontsepti staloho rozvytku: paradoksy mizhnarodnoho makroekonomichnoho seredovyshcha ta finansuvannia zelenoho zrostannia [Circular economy in the concept of sustainable development: paradoxes of the international macroeconomic environment and financing of green growth]. Naukovyi visnyk Odeskoho natsionalnoho ekonomichnoho universytetu – Scientific Bulletin of the Odessa National Economic University, 7-8 (308-309), 155–166. DOI: https://doi.org/10.32680/2409-9260-2023- 7-8-308-309-155-166 [in Ukrainian].

5. Hudzenko, N.M., Koval, N.I., & Plakhtii, T.F. (2018). Vplyv informatsiinykh potreb korystuvachiv na strukturu ta popovnennia finansovoi zvitnosti [The impact of users' information needs on the structure and completion of financial statements]. Ekonomika, finansy, menedzhment: aktualni pytannia nauky i praktyky – Economy, finances, management: topical issues of science and practical activity, 5.(33), 102–113 [in Ukrainian].

6. Dow Average Gets ESG Boost From Adding Amazon. Bloomberg. bloomberg.com. Retrieved from: https://www.bloomberg.com/news/articles/2024-06- 05/dow-average-gets-esg-boost-with-addition-of-amazon [in English].

7. Koval, N.I., & Slobodianiuk, S.A. (2025). Rozvytok korporatyvnykh struktur ta yikhnii vplyv na orhanizatsiiu obliku i zvitnosti [The development of corporate structures and their impact on the organization of accounting and reporting]. Investytsii: praktyka ta dosvid – Investments: practice and experience, 6, 95–101. DOI: https://doi.org/10.32702/2306-6814.2025.6.95 [in Ukrainian].

8. Maslak, O.I., Hryshko, N.Ie., Yakovenko, Ya.Iu., Pyrohov, A.D., & Dubovyk, O.I. (2022). Tsyrkuliarna ekonomika v Ukraini: ekolohichne, sotsialne ta korporatyvne upravlinnia (ESG) yak instrument stiikosti sotsialno-vidpovidalnoho biznesu v umovakh podolannia pandemii COVID-19 [Circular economy in Ukraine: environmental, social and corporate governance (ESG) as a tool for the sustainability of socially responsible business in the context of overcoming the COVID-19 pandemic]. Visnyk Natsionalnoho tekhnichnoho universytetu «KhPI» (ekonomichni nauky) – Bulletin of the National Technical University «KhPI» (economic sciences), 3, 3–8. DOI: https://doi.org/10.20998/2519-4461.2022.3.3 [in Ukrainian].

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10. Pavlikha, N.V. (2024). Vprovadzhennia ESG ta korporatyvnoi sotsialnoi vidpovidalnosti u konteksti tsyrkuliarnoi ekonomiky: monitorynh efektyvnosti ta problemy prozorosti [Implementing ESG and corporate social responsibility in the context of a circular economy: monitoring effectiveness and transparency issues]. Ekonomika ta suspilstvo – Economy and Society, 68. DOI: https://doi.org/10.32782/2524-0072/2024-68-22 Retrieved from: https://economyandsociety.in.ua/index.php/journal/article/view/4873/4813 [in Ukrainian].

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About the journal

Topics of the journal:

С1 Economics and International Economic Relations (by specialization)

D1 Accounting and Taxation

D2 Finance, Banking, Insurance and Stock Market

D3 Management

D4 Public Management and Administration

D5 Marketing

D7 Trade

J3 Tourism and Recreation

Keywords: economics , international economic relations , accounting , taxation , finance , banking , insurance , stock market , management , public management and administration , marketing , trade , tourism and recreation

Key information:

ISSN (print): 2411-4413

DOI: 10.37128

All-Ukrainian scientific and production journal “Economics, finance, management: topical issues of science and practical activity” is a peer-reviewed open-access journal that publishes original research, theoretical articles and reviews on a wide range of economic and business issues. The articles, which have scientific and scientific-practical significance, highlight theoretical and methodological aspects of the development of agrarian sector of economy and related industries, the results of fundamental and applied research.

The purpose of the journal is to highlight the results of fundamental and applied research in the field of economic sciences, aimed at developing modern approaches to managing economic processes, financial support for enterprise activities and increasing the efficiency of economic systems. The publication is focused on creating a scientific environment for the exchange of research results between scientists, higher education students and practitioners in economic sphere, as well as on the dissemination of modern scientific and methodological approaches to solving current economic and management problems. The journal contributes to the development of the research in the field of enterprise economics, finance, accounting, auditing, management, marketing, entrepreneurship, trade, tourism and recreation, public management and administration, economic development and international economic relations, which meets the modern needs of the socio-economic development of the state.

The journal’s objectives are:

• publishing the results of fundamental and applied research in the fields of economics, international economic relations, finance, management, public administration, accounting, marketing, tourism and recreation, and entrepreneurship;

• promoting the development of modern methods of managing enterprises and organizations, increasing the efficiency of using financial and material resources;

• supporting the research aimed at improving the economic mechanisms of enterprise functioning, developing innovative activity, and increasing the competitiveness of economic structures;

• ensuring the scientific exchange of research results between higher education institutions, scientific institutions, and business entities;

• developing methods of economic analysis, forecasting, and modeling of socio-economic processes;

• disseminating of modern approaches to financial management, accounting, taxation, and control of economic activity;

• promoting the development of interdisciplinary research related to the economic support of the development of agrarian sector of economy and rural areas;

• integration of scientific research results into the international scientific space and increasing the level of scientific communication.

Publisher: Vinnytsia National Agrarian University

Link to the journal on the publisher’s website: ”Economics, finance, management: topical issues of science and practical activity”

Frequency of issue: 4 times a year.

Language of publication: Ukrainian, English.

Editor-in-Chief: Inna Honcharuk

State registration: Decision of the National Council of Ukraine on Television and Radio Broadcasting No. 1337 and No. 1178. Media identifier – R30-05171. Publisher registration number (EDRPOU) 00497236.

Publisher’s ROR: https://ror.org/05m3ysc06 Publisher’s DOI prefix: 10.37128 ISSN (print): 2411-4413

Publisher DOI prefix: 10.37128 ISSN (print): 2411-4413

The scientific journal is included in category "B" of the List of scientific professional publications of Ukraine, in which the results of dissertations for the degree of Doctor and Candidate of Sciences in the specialties C1 (051) - Economics, D1 (071) - Accounting and Taxation, D2 (072) – Finance, Banking, Insurance and Stock Market, D3 (073) – Management, D5 (075) – Marketing, D7 (076) – Entrepreneurship and Trade, (241) – Hotel and Restaurant Business, D4 (281) – Public Management and Administration (Order of the Ministry of Education and Science of Ukraine dated March 17, 2020 №409)

History of journal:

Founded in 1997 under the name ”Bulletin of Vinnytsia State Agricultural Institute”. In 2010-2014 it was published under the name “Collection of Scientific Papers of Vinnytsia National Agrarian University”. Since 2015 “Economics, finance, management: current issues of science and practical activity” (Certificate of State Registration of Mass Media No. 21154-10954 PR dated 12/31/2014).