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Value added statement - a relevant instrument for integrated reporting (author: Anna Bagieńska)
pages: 92-104

JEL classification: L21, M21, M12

Key words: Value added statement, integrated reporting, CSR, intellectual capital

The integrated report is a tool enabling communication of an enterprise with both internal and external stakeholders. The lack of unanimity of stakeholders’ opinions on building values, resulting from the differentiation of their access to information, results in the value of the enterprise in the economic sense, evaluated from inside the organization, not complying with the market value evaluated by investors on the basis of available information. As a result, there is a gap of enterprise value. The lack of an integrated report leads to searching for such solutions whose scope and informational quality would build appropriate social-economic solutions with stakeholders. The report on added value is one of the ways of communication with the stakeholders in the area of the value generated by the enterprise. The purpose: The aim is to identify operating enterprises realizing the strategy of social responsibility in the ways of reporting on the information regarding added value as well as preparing the conception of a report indicating the direction of allocation of the generated added value for building financial, human and social capital of a firm. Design/methodology/approach: desk study, a comparative analysis of the methods of presenting the added value in the reporting of enterprises which provide a value-added statement or using GRI indicators. Findings: The presentations of the essence of reporting on the added value shows that it is a tool complementing the informational value of the compulsory annual report both for internal and external stakeholders. The value-added statement included in the integrated reports of international partnerships shows the dimension of the generated added value and its distribution among stakeholders. The indicator GR4 EC1– Direct Economic Value Generated and Distributed (EVG&D) proposed by the Global Reporting Initiative for reporting the social responsibility of a business –does not determine the added value, but shows mainly the distribution of generated income for covering operational costs and payments for various stakeholders, including the local community. The information from EVG&D may be used for determining the added value with a view to using it to calculate the indicators based on VA. In spite of differences in understanding the value measurement, one can recommend both of these approaches to the evaluation of the role played by financial, human and social capital in creating the value of an enterprise. From the stakeholders’ point of view, the information on generated income allocation is most important. Despite certain differences, both reports include such information. One should work towards the standardization of their measurement so that the results of respective companies could be compared and evaluated. Therefore, proposed is a report on the added value allocation2. Practical – the solution concerning the reporting on value proposed in the paper can be implemented in practice of enterprises to improve their communication with stakeholders. Originality and value of the paper: proposal of a new report combining the added value generated by the enterprise with elements of intellectual capital.

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