Integration of ESG factors and non-financial data into the managerial accounting system

Abstract

In light of growing demands for compliance with the global climate agenda and business transparency, non-financial data are becoming increasingly important in corporate governance and investment analysis. Established managerial accounting models, focused primarily on financial indicators, are no longer sufficient for effective management decision-making. In the context of digitalization, the growing scale of non-financial risks, and the expanding range of stakeholders, the adequacy of accounting information is becoming increasingly important. This study aims to theoretically substantiate approaches to integrating ESG parameters and non-financial data into managerial accounting.

The research methods used include systems and institutional approaches, content analysis of scientific papers, a comparative analysis of classical and ESG-oriented accounting, and structural and logical modeling methods. The presented methods made it possible to substantiate the validity of proposals for the integration of ESG criteria into management accounting. Results. A closer look was made at the managerial accounting transformation, influenced by ESG factors. The main methodological and organizational barriers for implementing non-financial information were defined, including the issues of measurements, data reliability, and their report inclusion. The originality of this work is expressed in its presentation of management accounting, taking into account ESG factors, as a unified information environment. This environment unites management accounting, management analysis, and investment analysis. The practical value of the results is based on the potential application in developing accounting systems adapted to ESG criteria. Furthermore, the findings are applicable in the development of management KPIs and sustainability reporting for companies. The recommendations made are useful for revising the functions of financial services to ensure that decisions in the area of sustainable development and investment management are justified.