Forms of Voluntary Disclosure: recommendations and business practices in Europe and U.S

The process that has led many North American and European managers to pay more attention to the disclosure of operational and financial measures presents similarities and also differences. The public release of company’s private information can be alternatively related with a strategic use of the communication system, in order to meet the information needs of investors, or with a new definition of long-term business sustainability. Consequently, the present article explains the connections between the official accounting organizations’ reports on voluntary disclosure and these two main approaches. In summary, this paper focuses on how and why the main accounting organizations and research centers have attempted to help managerial decisions by encouraging voluntary disclosure of private and non-financial information. The fourth section also proposes a different framework with the intention of improving the release of performance measures.