Economic benefit assessment of assets for socially responsible business

Abstract

Modern market development concepts which determine the need for a comprehensive assessment of business performance through social security impact on the environmental safety programs implementation at the enterprise level (as well as at the regional and national levels) are generalized. Alternative forms of economic benefits from using production resources in the context of balanced business policy context are studied. The financial results determining practice, based on analytical accounting of economic benefit elements assessment by international entities, taking into account their impact on economic development, social protection and environmental security are revealed. Alternative criteria of economic benefits, that are the conceptual income and expenses basis, as well as features of financial results based on analytical accounting of economic benefit elements (taking into account their impact on economic development, social protection and environmental security) are substantiated. Оbjectives of the article are: generalization of factors influencing the formation of economic benefits of enterprises’ assets, taking into account the requirements for socio-economic and environmental balance of business; justification of both methodological and organizational approaches and variable forms of economic benefit identification, its evaluation, accounting and analytical support. Criteria for assessing socio-economic benefit, social effect are specified. Methodical and practical approaches to economic benefit classification as an object of both accounting and management are proposed, such as potential of utility of future economic and implemented economic benefit. The international Managerial Accounting practice, analytical level of which identifies economic benefits depending on the period of its receipt is generalized. The use of the above economic benefit classification will improve accounting and analytical information reliability for managers to make effective operational and strategic decisions.