What is social responsibility accounting?

Social accounting (also known as social accounting and auditing, social accountability, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or accounting) is the process of communicating the social and environmental effects of organizations' economic actions to particular interest groups within society and to society at large.^[1]

Social accounting is commonly used in the context of business, or corporate social responsibility (CSR), although any organisation, including NGOs, charities, and government agencies may engage in social accounting. Social Accounting can also be used in conjunction with Community-Based Monitoring (CBM).

Statistics regarding employee health and job-related accidents. Emission rates, spills and volume of hazardous waste generated. Use of scarce resources such as water or lumber. Information about ethical initiatives within the company, such as labor practices, education, philanthropic efforts, human rights and diversity.

Hiiiii\ Social responsibility accounting - sometimes referred to as sustainability accounting or corporate social responsibility accounting - is the concept of integrating nonfinancial measures into financial reporting. Although social responsibility accounting and reporting aren't mandatory for U.S. businesses, companies do at times report on social issues. According to the American Institute of CPAs, sustainability accounting involves reporting a "triple bottom-line" of a company's economic vitality, social responsibility and environmental responsibility. In the past, business philosophy in the United States has tasked company managers with driving profits for shareholders. More and more, individuals and institutions are concerned with how business operations affects employees, customers, the community and the natural environment. Social responsibility accounting seeks to quantify and report on this information. Thanks

According to the American Institute of CPAs, sustainability accounting involves reporting a "triple bottom-line" of a company's economic vitality, social responsibility and environmental responsibility. In the past, business philosophy in the United States has tasked company managers with driving profits for shareholders. More and more, individuals and institutions are concerned with how business operations affects employees, customers, the community and the natural environment. Social responsibility accounting seeks to quantify and report on this information.

Hiiiii Social responsibility accounting - sometimes referred to as sustainability accounting or corporate social responsibility accounting - is the concept of integrating nonfinancial measures into financial reporting. Although social responsibility accounting and reporting aren't mandatory for U.S. businesses, companies do at times report on social issues. According to the American Institute of CPAs, sustainability accounting involves reporting a "triple bottom-line" of a company's economic vitality, social responsibility and environmental responsibility. In the past, business philosophy in the United States has tasked company managers with driving profits for shareholders. More and more, individuals and institutions are concerned with how business operations affects employees, customers, the community and the natural environment. Social responsibility accounting seeks to quantify and report on this information

> Social responsibility accounting --Social accounting (also known as social accounting and auditing, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or accounting) is the process of communicating the social and environmental effects of organizations' economic actions to particular interest groups within society and to society at large. --Social accounting is commonly used in the context of business, or corporate social responsibility (CSR), although any organisation, including NGOs, charities, and government agencies may engage in social accounting. Social Accounting can also be used in conjunction with Community-Based Monitoring (CBM). --Social accounting emphasises the notion of corporate accountability. D. Crowther defines social accounting in this sense as "an approach to reporting a firm’s activities which stresses the need for the identification of socially relevant behaviour, the determination of those to whom the company is accountable for its social performance and the development of appropriate measures and reporting techniques. --Social accounting is often used as an umbrella term to describe a broad field of research and practice. The use of more narrow terms to express a specific interest is thus not uncommon. Environmental accounting may e.g. specifically refer to the research or practice of accounting for an organisation's impact on the natural environment. Sustainability accounting is often used to express the measuring and the quantitative analysis of social and economic sustainability. National accounting is a narrower usage in concentrating on the nation as the aggregable unit of analysis and economics as a method of analysis.

Social responsibility accounting - sometimes referred to as sustainability accounting or corporate social responsibility accounting - is the concept of integrating nonfinancial measures into financial reporting. Although social responsibility accounting and reporting aren't mandatory for U.S. businesses, companies do at times report on social issues.

Definition of Social Responsibility Accounting According to the American Institute of CPAs, sustainability accounting involves reporting a "triple bottom-line" of a company's economic vitality, social responsibility and environmental responsibility. In the past, business philosophy in the United States has tasked company managers with driving profits for shareholders. More and more, individuals and institutions are concerned with how business operations affects employees, customers, the community and the natural environment. Social responsibility accounting seeks to quantify and report on this information. Information Reported Under Social Responsibility Accounting Companies that employ social responsibility accounting may report on some or all of the following issues: Statistics regarding employee health and job-related accidents. Emission rates, spills and volume of hazardous waste generated. Use of scarce resources such as water or lumber. Information about ethical initiatives within the company, such as labor practices, education, philanthropic efforts, human rights and diversity. Links between executive pay and sustainability criteria. Reporting Framework for Social Responsibility Accounting It's important for accounting information to be comparable, so companies that use social responsibility accounting need a consistent framework to work under. Companies can currently use the Global Reporting Initiative Framework, which the AICPA calls the de facto standard for sustainability reporting. Leading professionals in the fields of business, accounting and regulation have formed a Climate Disclosures Standards Board to develop a framework for environmental reporting. Use of Social Responsibility Accounting Companies that have stock listed on a U.S. stock exchange are required to report their financial information, but are not required to report on their social and sustainability information. Because of this, not many businesses report the information thoroughly. According to a 2013 study performed by the Investor Responsibility Research Institute, only 1.4 percent of companies listed in the S&P 500 - seven, to be exact - issue a full-fledged statement on sustainability reporting. However, all but one of the S&P 500 makes some sort of disclosure about sustainability, and nearly half link executive compensation to some sort of sustainability crite

Hie Rohith, **Definition of Social Responsibility Accounting** According to the American Institute of CPAs, sustainability accounting involves reporting a "triple bottom-line" of a company's economic vitality, social responsibility and environmental responsibility. In the past, business philosophy in the United States has tasked company managers with driving profits for shareholders. More and more, individuals and institutions are concerned with how business operations affects employees, customers, the community and the natural environment. Social responsibility accounting seeks to quantify and report on this information. **Information Reported Under Social Responsibility Accounting** Companies that employ social responsibility accounting may report on some or all of the following issues: - Statistics regarding employee health and job-related accidents. - Emission rates, spills and volume of hazardous waste generated. - Use of scarce resources such as water or lumber. - Information about ethical initiatives within the company, such as labor practices, education, philanthropic efforts, human rights and diversity. - Links between executive pay and sustainability criteria.

Social responsibility accounting - sometimes referred to as sustainability accounting or corporate social responsibility accounting - is the concept of integrating nonfinancial measures into financial reporting. Although social responsibility accounting and reporting aren't mandatory for U.S. businesses, companies do at times report on social issues. According to the American Institute of CPAs, sustainability accounting involves reporting a "triple bottom-line" of a company's economic vitality, social responsibility and environmental responsibility. In the past, business philosophy in the United States has tasked company managers with driving profits for shareholders. More and more, individuals and institutions are concerned with how business operations affects employees, customers, the community and the natural environment. Social responsibility accounting seeks to quantify and report on this information.