Accounts That Matter: A Systematic Review of Accounting’s Role in Integrating Sustainability Into Organizational Performance

In this paper, we address the critical need for alternative accounting practices that effectively integrate sustainability into organizational performance, balancing financial goals with socio-environmental objectives. We propose the concept of ‘accounts that matter’ – strategic, relationship, operational, and resource accounts – as pragmatic representations of accounting practices for operationalizing sustainability dimensions within organizations. These accounts enable a balance between flexibility and control, fostering collaboration while maintaining autonomy. By integrating these dimensions, accounts that matter promote a holistic view of sustainable performance within organizations. To explore this concept, we conducted a systematic review of 704 articles, employing statistical and content analysis methods to map the current state of art at the intersection of accounting and sustainability, identifying key thematic clusters such as development, innovation, governance, and accountability. By organizing the literature into these clusters, we demonstrate how accounts that matter facilitate the interdependence of these clusters, fostering sustainable business models and driving transformative organizational practices. Our findings reveal the significant role of these accounts in modifying organizational structures and influencing institutions and fields to adopt more sustainable approaches. However, our analysis also highlights persistent gaps in the literature, particularly concerning the practical implementation of these accounts, leading to the development of a theoretical framework for integrating these practices into business strategies. We conclude by proposing future research directions aimed at enhancing the design and application of accounts that matter, thereby strengthening their capacity to create organizations that effectively balance financial performance with broader sustainability goals.