(Non)Financial Reporting (A)Symmetries in the Case of Amusement Parks in Europe

Financial and non-financial reporting concerns in various industries are current challenges. With respect to tourism – the case of amusement parks – the existing research is scarce. In this context, the objectives of our research are the following: (i) to identify and critically analyse the key fina...

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Bibliographic Details
Published in:Amfiteatru economic 2016-11, Vol.18 (Special Issue No. 10), p.1015-1033
Main Authors: Calu, Daniela Artemisa, Dumitru, Mădălina, Glăvan, Mariana Elena, Gușe, Raluca Gina
Format: Article
Language:English
Subjects:
Administrative expenses
Amusement parks
Annual reports
Balance sheets
Cash flow statements
Current liabilities
Declining balance method
Europe
Financial reporting
Financial services
Financial statements
GNP
Gross National Product
Homogenization
Hospitality industry
International Financial Reporting Standards
non-financial reporting
Operating leases
Parks & recreation areas
reporting frameworks
Social responsibility
Straight line
Studies
Tourism
Trends
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Summary:Financial and non-financial reporting concerns in various industries are current challenges. With respect to tourism – the case of amusement parks – the existing research is scarce. In this context, the objectives of our research are the following: (i) to identify and critically analyse the key financial and non-financial reporting frameworks applicable in tourism, and respectively (ii) to identify the general trend and specific features of the financial and non-financial reporting of companies that manage major amusement parks in Europe. To achieve these objectives, we analysed the most recent sets of annual reports and other reports containing non-financial information, published by a number of five companies that hold the top 20 amusement parks in Europe. We followed a set of non-financial indicators that we selected based on the following reporting frameworks: Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), European Federation of Financial Analysts (EFFAS), Organisation for Economic Co-operation and Development (OECD), European Tourism Indicators System (ETIS). The results obtained indicate the following existing trends: (i) in terms of financial reporting, there is symmetry for four of the 13 analysed aspects, others being reported differently and (ii) in terms of non-financial reporting, the degree of symmetry for the information disclosed is much lower that of financial reporting, only two of the 46 selected non-financial indicators (customer satisfaction and number of customers) being consistently reported by all the investigated companies.
ISSN:2247-9104
1582-9146
2247-9104