Corporate Social Accounting and the Enhancement of Information Disclosure among Firms in Nigeria: A Case of Some Selected Firms in Nigeria

Abstract

This study  evaluates Corporate Social Accounting and Enhancement of Information Disclosure among selected  some quoted firms in Nigeria. Questionnaires were administered to  randomly selected respondents made up of accountants of management cadre from the selected firms. The data collated from respondents were analysed and tested using  One-Way ANOVA and Chi-square statistical tools. The study among other things revealed that the   inclusion of corporate accounting  reports as an additional but distinct report  in the annual statements will significantly enhance information disclosure to stakeholders. The study also found out that  most companies in Nigeria  presently disclose social accounting information in their annual reports via the Directors’ Report, Chairman’s Statement and Notes to the Accounts while  these report are shown with very short/scanty qualitative information. This paper therefore recommends among others that companies should consider social accounting reports imperative and make it  a distinct but an integral part of the financial statements to be presented annually; suitable accounting  framework  should be propounded  by relevant accounting bodies to guide and steamline the reportage on  social accounting information by corporate organisations  while the government should put in place the neccessary legislations to compel organisations to disclose social accounting information in Nigeria.

Keywords: corporate social accounting, social accounting, social costs, social performance, financial statements.