A growing number of social purpose organisations are exploring ways to account for their creation of social impact.
As an emergent practice, this study investigates the normative ideas and concepts that underpins the creation of these forms of account, and considers how these contrast with generally accepted principles in financial accounting.
This project explores social purpose accounting from three perspectives:
(1) from that of existing methods and tools,
(2) social purpose organisations that prepare accounts, and
(3) users of accounts.
The study also investigates the adoption of different standards in the practice of social impact investment in Australia.
This project is important not only as practice grows, but also because social purpose accounting is at a tipping point of standardisation.
By analysing current practice and stakeholder perspectives, this study aims to contribute to our knowledge of social accounting, and can also inform the current standard development process.