The Social Function of Accounts: Reforming Accountancy to Serve Mankind, 1st Edition (Hardback) book cover

The Social Function of Accounts

Reforming Accountancy to Serve Mankind, 1st Edition

By John Flower

Routledge

224 pages

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Description

Accountancy as presently practised is tied to the paradigm of modern financial capitalism with its reliance on market solutions and the maximization of the firm’s profits, which are the fundamental causes of most these problems.

The Social Function of Accounts argues that accountancy, as currently organized and practised, is failing society, both in Britain and in the world as a whole. Examining the current problems afflicting the world: financial crises and instability, global warming, degradation of the environment, growing inequality, this book asks the question - what contribution does accountancy make to the solution of these problems? The book argues that the accountancy profession does not serve the public interest, notwithstanding its claim to this effect.

The Social Function of Accounts argues that the moral responsibility of the accountant is analysed with reference to the principal theories of ethics continuing that the individual accountant has a moral responsibility to consider the impact of his actions on other people and on society as a whole. This responsibility is then analysed in a series of chapters dealing with four specific aspects of the matter: Distributive Justice, Sustainability, Financial reporting & the Accountancy Profession.

Concluding with a call for the accountancy profession to adopt a new ethic of service to the public The Social Function of Accounts redraws the boundaries of current accounting literature and will be vital reading for academics, researchers and policy makers in accounting and related disciplines.

Table of Contents

1. Capitalism in Crisis

2. Accountancy: Capitalism’s Handmaiden

3. The Deplorable State of Accountancy Practice

4. The Reform of Capitalism: The Stakeholder Theory of the Firm

5. The Reform of Accountancy: Stakeholder Reporting

6. Sustainability Reporting: the GRI’s Initiative

7. Integrated Reporting: A Disappointing Failure

8. Conclusions

About the Author

John Flower, now retired, was formerly Professor of Accounting at the University of Bristol and Director of the Centre for Research in European Accounting, Brussels.

About the Series

Routledge Studies in Accounting

This series explores the roles of Accounting and Accounting theory in the modern world. The series examines research in accounting thought, practice, auditing, principles and ethics as well as international standards and regulation setting. Examining private, public and non-profit sectors, Routledge Studies in Accounting, seeks to advance the scholarly debate by providing cutting edge and insightful research

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Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS001000
BUSINESS & ECONOMICS / Accounting / General
BUS001040
BUSINESS & ECONOMICS / Accounting / Managerial
BUS001050
BUSINESS & ECONOMICS / Accounting / Standards (GAAP, IFRS, etc.)