Professional paper
A STANDARD FRAMEWORK OF SOCIAL ACCOUNTING – THE POSSIBILITIES OF INTEGRATION INTO TRADITIONAL ACCOUNTING SYSTEM OF HIGHER EDUCATION INSTITUTIONS
Diana Eerma
; Faculty of Economics and Business Administration, Estonia
Peter Friedrich
; Faculty of Economics and Business Administration, Estonia
Lorena Mošnja-Škare
; Juraj Dobrila University of Pula, Croatia
Abstract
The paper provides an overview of theoretical approaches to social accounting, discussing its developments, features and limitations. The traditional accounting information is not sufficient to cover social benefits and social costs made by private or public entities. Their measurement, recognition and disclosure provide valuable information significant for efficient allocation and management of resources, contributing in such a way to the social wealth growth. That is why this paper provides the social accounting framework exploring the possibilities of its integration into the traditional accounting and reporting system. These possibilities are discussed through the high education institutions’ accounting system, thus suggesting how the social accounting system could become integrated in the governmental accounting system which is applied by those institutions.
Keywords
social accounting; financial reports; social costs; social benefits
Hrčak ID:
83789
URI
Publication date:
29.6.2012.
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