This study aims to investigate the effect of gender diversity in board of directors in banks on environmental, economic, social, and governance (CSR) reporting. The sample comprises 85 banks operating in the Central and West Balkan region. Research results suggest that gender diversity in a two-tier board system in bank boards does not affect CSR reporting as measured by the constructed EESG index with statistical significance. However, taking into consideration specific elements of this index, we found that gender diversity on the supervisory board had a positive effect on variables that compose this index. This is the first study to provide insight into gender and the CSR reporting nexus in the Central and West Balkan region. This study contributes to the discussions on those issues in a global scale and in terms of the banking sector in particular.

Up until now accounting standards regarding financial instruments were changed several times. The latest change was the issuance of the IFRS 9 Financial instruments published for the purpose of simplifying the rules in its predecessor IAS 39 Financial instruments: recognition and measurement. From the above mentioned changes of accounting regulatory regime for financial instruments we may conclude that accounting bodies, so far, have not found the adequate approach and treatment for the financial instruments. They considered that fair value would be a revolutionary measure for the financial instruments and that this measure would provide more relevant, transparent and comparable information. But the standard setters did not predict that this measurement attribute might have an effect on earnings power and financial position of a company. In this paper we observe critiqually the main differences between IFRS 9 and IAS 39 regarding the recognition and measurement of financial instruments and with an emphasis on of some problems of early adoption of IFRS 9 by companies.

The successful organization is the one that is able to improve quality, lower costs and increase efficiency of operations, and eliminate different activities and products that incur losses. To achieve this, organizations implement different costing systems. A costing system is a system that helps the management of an organisation with planning and decision making. This system plays an important role in providing accurate cost information about the products and services provided for clients. Many organizations shift their focus from conventional or traditional costing systems to an increasingly popular costing methodology system that is Activity Based Costing system. This article specifies characteristics and reasons for implementation of this method, and defines establishment of this method in Serbia.

Reporting on sustainable development has traditionally been a part of the management report. However, after the year 2000 many companies started to prepare separate report on sustainable development based on the current reporting framework. Giving that quality of sustainable information was not at the expected level, based on the fact that the sustainable reports were prepared voluntarily by companies, European Commission passed the Directive 2014/95/EU which serves as amending Directive 2013/34/EU. The Directive 2014/95/EU states that entities with more than 500 employees have an obligation to report certain non-financial information as a supplement to the management report. Otherwise stated, the Directive requires that under the specified condition, entities prepare the sustainable development report based on one among many contemporary frameworks. Research conducted on the entities whose shares are traded at the Belgrade Stock Exchange shows that Serbian companies prepare superficial reports, focusing more on the form than the content and usefulness of this information reported on the surface of the management report. The research shows also that development of sustainable reporting in Serbia is at a very low level. It seems that only one company from the Belex 15 index prepares the separate sustainable report based on GRI standards. Taking into consideration that the practice of adequate disclosure of non-financial information is missing in Serbia, sustained by the inadequate mindset of investors that do not support the importance of this information, the application of this newly passed Directive which is going to be operationalized in the Company Law in Serbia or the Law on Accounting, require Serbian companies to invest great effort in order to prepare this report.

This paper examines banking industry practice in the area of circular economy reporting with the specific emphasis on waste management reporting in this sector. Paper answers the basic question - is financial service sector exempt from the circular economy reporting requirements having low material usage and resource consumption? Manuscript indicates that in Serbia waste management reporting in banks is in the early stage. Most of the waste management indicators in banks are included as integral part of sustainability reports or as part of management report. Paper indicates that less than half of the bank population in Serbia prepares standard report required by the Environmental Protection Agency. Having in mind these results, banks managers and state officials should take into consideration the fact that most of the banks do not report on flow of waste and most of these indicators are not regularly published on website implying that stakeholders and investors are not adequately informed on the inclusion of banks into circular economy environment. Lagging behind waste management requirements could be potentially hazardous having in mind the fact that Serbia strives towards European Union membership where the legislation and practical alignment with the EU regulation is inevitable process.