ABSTRACT 

The need for social and envilonmental accounting has become the concern and locus 01 nations

and responsible corporate managements and has increased their explicit assessment of' the

covironmental and social impact to its financial performance. (Okoyc & Ngwakwe 2004).

At no time in, at least the last 20 years has matters relating to an organization interaction with

the physical environment and society being so widely accepted as central, even both crucial to the

future wellbeing of both the business and those whoare affected by it. Whether fbr moral.

economic, legal or pragmatic reasons, every organization has to make an increasingl) e.'piici

assessment of its environmental and social impact and to attempt to reposition itself as the terms at

social contract between business and society come under increasing serti'iiiy. By i'edeflnint

success in termsofsociál impact or environmental sustainahility, social ac tinting can strengthen

thebusiness case for investment in social ventures (Auka ,2006)Social and environmental

'u:Lings are very wide ten'ns. They have been variously defilied and on typical de[inition -

'social accounting is tile preparation and publication of an account about an organi/ations

social, environmental, employee, community, customer and ether stakeholder interactions and

aetivities(Gray, 2000).

Social accounting may contain financial information but is more likety to be a combinaton oF

ivalitative information and quantitative information. The social account must serve a nunib

of purposes but discharge of tile organizations accountability to its stakeholders must be clearly

dominant of those reasons and the basis upon which the social accounting is judged (Ma' or.

ç2006)•