BUS 421 Lecture Notes - Lecture 7: Historical Cost, Accrual, Chicago Climate Exchange

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 421
• Professor: Karel Hrazdil

Document Summary

Social accounting evaluate and make visible how firms are fulfilling its social contract. Select firm level social performance variables, measures, and measurement procedures. Develop useful info for evaluating social performance; and. To make available in an optimal manner, to all social constituents, relevant information on a firm"s goals, policies, programs, performance and contribution to social goals. Determination of the relevant social overhead/return rates: require undertaking an audit to evaluate the list of social transactions, need to come up with generally accepted social goals and indicators, with coherent firm level performance measures criteria. Accounting for firm"s social performance requires broader definition of a firm"s role in society. Public company accounting reform and investor protection act. Corporate and auditing accountability and responsibility act. Positive csr > negative csr - management manipulation. Negative csr > positive csr - accurate portrayal. Manage and reduce environmental impact with incentive. Allowances used against emissions, banked for future or traded.