Towards the development of a conceptual framework for circular accounting: The Partially Transparent Circular Accounting Framework

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Circular economy (CE) is gaining more attention in scientific literature, even policy makers and companies are starting to embrace it. Although the number of scientific literature has been increasing significantly over the course of the last decade, CE still lacks a clear and mutually accepted conceptualisation. A single holistic conceptualisation is presented in this research. Further, this conceptualisation is linked to accounting. A qualitative systematic literature review was conducted with the purpose of finding accounting frameworks which could facilitate the transition towards circular accounting. Rambaud and Richard (2015) suggest the Triple Depreciation Base Line (TDL). Based on the findings of the conducted literature review, their framework can be currently classified as state of the art. Based on a critic of the TDL, the two elements of interest of this research, circular economy and accounting were brought together using the value creation process and the six capitals formulated by the IIRC. Using the insights collected in a qualitative research composed of a small sample of interviews with interviewees proficient in accounting, a conceptual framework for circular accounting has been developed: the Partially Transparent Circular Accounting Framework. This potential framework was presented to a second sample of interviewees who assessed its feasibility.
Faculteit der Managementwetenschappen