Social Value Accounting will change the way your organisation views the value you provide to your community and help show potential funders that value in dollar terms
In our view, the current standard financial statements can be incomplete and therefore misleading.
Social Value Accounting looks to add to your traditional statements and provide a complete and accurate account of the value you provide in dollar terms. We prepare a separate set of reports which take the standard financial statements and adjusts those reports for social benefits, social costs and social responsibility.
The standard financial statements for example, do not include activities which are provided free of charge and include the sale of all goods and services provided at the price paid by the purchaser. The price paid by the purchaser may not reflect the true value of those goods and services. In very general terms, the standard financial statements considers only the quantity of the transactions for a period and ignores the quality or lack of quality of those transactions.
Social responsibility accounting is concerned with the activities undertaken during the period and the value those activities provide to your community.
It is our view that unless an equity social dollar value is assigned to the activities your organization undertakes, then the contribution your organization makes to society is not appreciated or understood by government, society and other funding organizations.
Find out more about Social Value Accounting
More from our Blog
Why price is not always equal to value
Price is not always equal to value and the financial statements we use only make this more confusing and misleading. We take a look at how you can account for value as well as price in your financial statements and how that will benefit your organisation.
Preparing reports that show the true value you provide
Organisations need to be financially stable while also maximising the impact they have on the community they support. We explain just how you can show this in reporting.
