Within this session there are papers dealing with current trends in accounting in the Czech Republic, Estonia, the U.S., and Japan. These papers provide insight from both micro and macro perspectives and deal with stimulating topics from research and practical points of view. There are papers dealing with corporate social responsibility and financial performance after implementation of eco-management systems, sustainability, and financial disclosures, accounting standards and the impact on mergers and acquisitions, and financial statement errors. Specific questions addressed include whether governmental mandates to enhance sustainability generate additional positive externalities; how differences in accounting standards affect merger and acquisition transactions; and what factors influence the quality and maintain the reliability of financial statements prepared according to IFRS.