social responsibility reporting

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The reporting of social accounting issues by a business. These may be discussed in the annual accounts and report or form the basis of a separate report. Social responsibility costs are the costs to the business of e.g. equipment donated, sponsorship given, or charitable donations. The monetary quantification of social benefits is much harder to measure and necessarily subjective. Owing to the concerns of consumers, investors, and other stakeholders, companies are increasingly obliged to be environmentally and socially conscious. See also green reporting; social audit.

Subjects: Accounting.

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