Personalization as a trend in the development of corporate reporting

Abstract

The article deals with the problems of the financial reporting methodology associated with the discrepancy between its new forms and the information needs of stakeholders. The purpose of the study is to examine the hypothesis about the existence of an interest of economic participants in financial reporting, focused on individual information requests of specific counterparties of the reporting companies, in the form and content that new technologies can achieve. To show the current trend of individual reporting format for a specific user, the concept of personalized reporting is used. The theoretical basis for this study was the work of Russian and foreign authors devoted to the current crisis of public corporate reporting on possible options for the development of its practice, as well as studies on the degree of compliance of traditional forms of financial reporting with the level of development of new technologies. The practical basis for this study was the materials of a survey of the top management of more than 300 Russian companies, and the requests of counterparties received by these companies for providing them with personalized reporting. The methodology for conducting this research was based on the works of a number of foreign authors who have conducted similar studies in recent years. The research has confirmed the hypothesis put forward. Conclusions are drawn that the use of new integrated communications in accounting can significantly improve the quality of information provided to stakeholders. It should be stressed that, personalized reporting can be a supplement or alternative to new financial reporting. Attention is drawn the need to rethink the accepted methods of financial reporting, as well as to study the main changes in its practice.