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The origin of the Social Credit System can be traced back to the early 1990s as part of attempts to develop personal banking and financial credit rating systems in China, and was inspired by Western commercial credit systems like FICO, Equifax, and TransUnion. [17]
The social accounting and auditing system includes the triple bottom line of: Commercial and financial – quantitative measurement is by regular data entry that is compared to quarterly and annual planned targets – a planned and actual method. Financial ratios are used to compare trends over time within the organization and comparisons with ...
A social accounting matrix (SAM) represents flows of all economic transactions that take place within an economy (regional or national). It is at the core, a matrix representation of the national accounts for a given country, but can be extended to include non-national accounting flows, and created for whole regions or area.
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 ...
Alternative credit scoring systems can use data such as rental payments, utility payments, subprime credit, and cell phone bills. [25] Other sources are social media activities, internet browsing history, employment history, student history, past loan application dates and locations, or the method one uses when purchasing gasoline. [26]
The scoring system has also been studied as a form of classification to shape an individual's life-chances—a form of economic inequality. [62] The classification scheme is necessitated by the loss of collective social services and risk. [63] The credit scoring system in the United States is similar to the Social Credit System in China. [64]
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Sustainability accounting (also known as social accounting, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, or non-financial reporting) originated in the 1970s [1] and is considered a subcategory of financial accounting that focuses on the disclosure of non-financial information about a firm's performance to external stakeholders ...