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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 ...
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 ...
The complexity of CSR is fully captured through standardization tools; Provide legitimacy; Little interaction between the company's global strategy and its CSR strategy; Lay reporting Helps to educate the company's internal stakeholders; Adapted for small structures; Not efficient to ensure comparability because of the lack of structure ...
The size of a company's board and management experience were strongly correlated with its financial performance. [47] CSR describes the sustainability tactics used by companies to make sure their operations are ethically acceptable. On the contrary, ESG are employed to evaluate the overall sustainability of an organisation. ESG are used as ...
Triple bottom line (TBL) accounting expands the traditional reporting framework to take into account social and environmental performance in addition to financial performance. In 1981, Freer Spreckley first articulated the triple bottom line framework in a publication called Social Audit - A Management Tool for Co-operative Working. [8]
Corporate social responsibility (CSR) or corporate social impact is a form of international private business self-regulation [1] which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in, with, or supporting professional service volunteering through pro bono programs, community development ...
The Global Reporting Initiative (known as GRI) is an international independent standards organization that helps businesses, governments, and other organizations understand and communicate their impacts on issues such as climate change, human rights, and corruption.
An environmental audit is a type of evaluation intended to identify environmental compliance and management system implementation gaps, along with related corrective actions. In this way they perform an analogous (similar) function to financial audits .