ABSTRACT
This chapter focuses on theoretical perspectives underpinning the process of social accounting and reporting. Social accounting and reporting attempts to assess how far stakeholders, namely, customers, employees, shareholders, suppliers, the community and others, feel that the organisation lives up to its promises in the way it operates. The chapter examines some practical approaches that have been adopted by companies in measuring and reporting their social performance. It provides a framework for considering such approaches, and analyses three leading examples of corporate social reports: The Co-operative, The Body Shop and Ben & Jerry's. In the 1997 Values Report, apart from a financial summary, information is given on The Body Shop's compliance with the codes of practice issued by the Cadbury and Greenbury committees. The Body Shop approach does emphasise an important element of social accounting and reporting: that it is based on assessing the degree to which corporate performance matches the stated values of the organisation.
