SOCIAL ACCOUNTING

INTRODUCTION

– Social 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.

HISTORY

– Social accounting as an approach began developing in the UK in the early 1970s

– The Public Interest Research Group established Social Audit Ltd.

DEFINITION OF SOCIAL ACCOUNTING

– "An approach to reporting a firm’s activities which stresses the need for the identification of socially relevant behavior, the determination of those to whom the company is accountable for its social performance and the development of appropriate measures and reporting techniques."

-D. Crowther

PURPOSE

– ACCOUNTABILITY

– MANAGEMENT CONTROL

SCOPE

– FORMAL ACCOUNTABILITY

– SELF REPORTING AND THIRD PARTY AUDITS

– REPORTING AREAS

– AUDIENCE

OBJECTIVES OF SOCIAL ACCOUNTING

– EFFECTIVE UTILIZATION OF NATURAL RESOURCES:

– HELP TO EMPLOYEES

– HELP TO SOCIETY

– HELP TO CUSTOMERS

– HELP TO INVESTORS

BENEFITS– Social accounting will provide you with an ongoing record of

how your organization or enterprise has developed and changed over time.

– You will get feedback on how things are going from the range of people involved in your organization or enterprise.

– You will be able to identify the areas where things are working well and not so well—and you can use this information to help continue what you are doing well and make improvements to change what’s not working so well.

– You will have a record of what your organization or enterprise is doing and the sorts of impacts it is having—information you can use when applying for grants and funding, for reporting on grants, and for promoting what you do.

CHALLENGES

– For small, member-based community organizations and enterprises the biggest challenge is finding a way to regularly carry out social accounting with no staff, no time and no budget! It is therefore important that the social accounting process be as simple as possible so that it does not impose too heavy a burden on members.

BASED ON THREE STEPS

1) Planning – identification stage

2) Accounting – deciding on the scope and setting up the social accounting System

3) Reporting and Auditing – collecting information and submitted to an

Step 1: Scoping

– The first step is to identify three key elements of your community organization or enterprise:

– Values, aims and objectives

– Activities

– Stakeholders.

Step 2: Accounting

– Design

– Collect information

– Characteristics

Step 3: Reporting and Responding

– Relevant information

– Results

WATERLOO CO-OPERATIVE RESIDENCE INCORPORATED

– Waterloo Co-operative Residence Incorporated, also known as WCRI

– Non-profit student housing co-operative located in Waterloo, Ontario, Canada.

– Elections

ANAMIKASection:- HRoll N0:- 547

THANK YOU