What it is and how to do it

Article Abstract:

UK-based Traidcraft Exchange is the first organization to undertake social accounting and the first to employ financial auditors to audit its social accounts. A charity that is concerned with ethical business practices, Traidcraft Exchange understands that its first social accounts of 1995/1996 represent a milestone both for itself and the accounting profession as a whole since social, ethical and environmental issues have become significant for businesses. Rather than focusing on the financial, social accounts refer to non-financial operations and are a measurement of the firms' performance against stated missions, objectives and other targets. The social accounting process involves the reasons for its production, bookkeeping systems, production of the accounts, audit, and publication and review, with the key elements being who conducts the audit and how the audit is conducted.

Social Responsibility Accounting, Accounting and auditing, Charities, Traidcraft Exchange

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The sole practitioner's other tale

Article Abstract:

Sole practitioners in the UK have a rosy future to look forward to. These practitioners now constitute the fastest growing segment of the accountancy profession and are likely to continue flourishing in the 1990s as they reap the benefits of close interaction with clients. One reason for this is the shift toward self-assessment in personal finance, a trend which promises to add a healthy new source of revenues for many accountants, particularly those who are considered to be credible sources of investment advice by their clients. Other factors that promise to make the sole practitioner's work much easier to manage are the growing availability of computer software that automate routine accountancy tasks; the increased emphasis on delegation to well-trained staff members and to outside experts; and the absence of burdensome administrative tasks.

Column, Accountants

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Social accounting: a future need

Article Abstract:

Social responsibility accounting in Great Britain encompasses the reporting of employee data, safety data, energy consumption, productivity statistics, community relations activities, and pollution control measures by companies, without relating such data to financial accounts and measurements. Total impact accounting encompasses similar topics, but attempts to assign costs to the public for such things as polluting the atmosphere and water, or costs of cleaning up hazardous and harmful spills of chemicals. Such accounting practices are discussed, and the philosophical issues of placing social constraints on business enterprises, expanding accountants' services, employing subjective judgments in accounting procedures, and other problems associated with social accounting are identified and briefly discussed.

Social aspects, Industry, Industries, Great Britain

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