Explain the meaning of social accounting, Accounting Standards

QUESTION

Social accounting is a way of measuring and reporting on an organisation's social and ethical performance. It is principally concerned with offering a complementary form of accounting as an alternative to the dominant economic and profit-orientated emphasis of companies

Required:

(a) Explain the meaning of social accounting

(b) Describe four main aims of social accounting

(d) What are the needs an organisation wants to satisfy through the process of social accounting?

(e) State three essential features of social accounting which distinguish it from traditional accounting

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