Affiliation:
1. Clark Atlanta University, USA
2. New York University, USA
Abstract
This chapter will examine the value of accounting for sustainability, as well as how its implementation supports sustainability and financial literacy in modern business operations. In order to increase transparency and accountability, the chapter will explore the crucial components of assessing sustainability and the necessity of related financial reporting disclosures. Businesses have become more aware of the importance of incorporating sustainability into their accounting procedures because of an increased emphasis on aspects relating to the environmental, social, and governance (ESG). This chapter intends to shed light on how businesses can track their sustainability performance and inform stakeholders of important information. By promoting financial literacy and sustainable practices, the chapter will help achieve the book's main goal of increasing knowledge regarding the dynamic relationship between sustainability and business today.
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