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The Importance of Gold in the Financial Report

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Building New Bridges Between Business and Society

Part of the book series: CSR, Sustainability, Ethics & Governance ((CSEG))

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Abstract

Gold is one of the most desirable merchandise, because it is a dense, soft, shiny, malleable and ductile metal (Chapman, Emotionally durable design: Objects, experiences and empathy. Routledge, 2015). Due to these characteristics, nowadays, is used in jewelry, decoration, dental work, plating, reflectors, coinage and in the standard for many monetary systems (Kaushish, Manufacturing processes. Eastern Economy Edition, 2008). Also, the gold market has recently attracted a lot of attention and the price of gold is relatively higher than its historical trend and as Angstrom (Haring away. The Economist Newspaper Limited, 2009) says: “The beauty of gold is it loves bad news”. This research focuses on the identification, prevention and mitigation of the adverse impacts of the gold as an asset through the financial report. In order to ensure a complete understanding of the definition of accountability and the need of social responsibility of Central Banks and their impacts on society (European Commission (EC), A renewed EU strategy 2011–14 for corporate social responsibility, COM (2011) 681 final. Official Publications of the European Commission, 2011), the authors aim to contribute to raising awareness on the integration of financial reporting and demonstrate how accounting issues are a concrete dilemma of understanding the gold as an asset. The results show the need of more transparency and the increase awareness of the communication process of the real state of the economy and the budget state is an attitude of willingness to learn from past mistakes and then cooperate with Society to improve and promote the economic growth.

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Acknowledgment

The authors wish to thank José Ángel Pérez López of Universidad de Seville (Spain). Ideas expressed in the article are those of the authors and should not be attributed to any organization.

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Authors and Affiliations

  1. Guarda Polytechnic Institute and UDI-IPG and CICF-IPCA, Guarda, Portugal

    Rute Abreu

  2. Aveiro University, Aveiro, Portugal

    Carlos Pinho

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  1. Rute Abreu
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  2. Carlos Pinho
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Correspondence to Rute Abreu .

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Editors and Affiliations

  1. Sino-German Research Institute for Sustainable Development, Nanjing University of Finance and Economics, Nanjing, Jiangsu, China

    Hualiang Lu

  2. Cologne Business School, Cologne, Germany

    René Schmidpeter

  3. College of Business, Loyola University New Orleans, New Orleans, Louisiana, USA

    Nicholas Capaldi

  4. International Training Centre of the IL, International Labor Organization, Turin, Italy

    Liangrong Zu

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Abreu, R., Pinho, C. (2018). The Importance of Gold in the Financial Report. In: Lu, H., Schmidpeter, R., Capaldi, N., Zu, L. (eds) Building New Bridges Between Business and Society. CSR, Sustainability, Ethics & Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-63561-3_6

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