A STANDARD FRAMEWORK OF SOCIAL ACCOUNTING – THE POSSIBILITIES OF INTEGRATION INTO TRADITIONAL ACCOUNTING SYSTEM OF HIGHER EDUCATION INSTITUTIONS

Diana Eerma (), Peter Friedrich () and Lorena Mosnja Skare ()
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Diana Eerma: University of Tartu, Estonia
Peter Friedrich: University of Tartu, Estonia
Lorena Mosnja Skare: Juraj Dobrila University of Pula

Economic Thought and Practice, 2012, vol. 21, issue 1, 279-314

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 (search for similar items in EconPapers)
JEL-codes: M14 M41 (search for similar items in EconPapers)
Date: 2012
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