Current challenges of social function of accounting


The current accounting model measures the results of operations and what it considers are the costs and expenses associated with the productive activity at organizations, but it does not consider numerous negative externalities that actors of economic activities have been generating, such as extractive processes. Accounting that incorporates these negative effects into its accounts is what could be called social accounting, which differs from corporate social responsibility, the social balance sheet and environmental accounting, although they are related. However, there are those who have proposed changes to the current accounting model, trying to present the positive scope of this incorporation, aimed at its conceptualization as a “true benefit” as stated by BELKAOUL (2004). With the aim of seeking an opening towards a social accounting model, the purpose of this article is to determine possible social costs, and models of financial statements for social accounting, aware that, if the State does not establish the accounting regulations for these aspects, this type of project will not take on legal life. Therefore, we want to discuss with the academic community, in order to consolidate and propose its regulation to the State. It should be noted that multiple costs that cause both economic and social damage and moral damage to the population will be left out of the matrixes presented which could be considered in subsequent research that will require greater interdisciplinarity.


  • Jaime Arturo Castrillón Cifuentes Universidad del Norte
  • Elvira De León Cuesta Universidad Sergio Arboleda


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Author Biographies

, Universidad del Norte

Associate Professor, School of Business, Universidad del Norte, Barranquilla, Colombi. Degree in education, Universidad de San Buenaventura, Colombia, Master in Administration, EAFIT, Colombia, Innovar del Caribe research group, Universidad del Norte, Colombia.

, Universidad Sergio Arboleda

Contador público, universidad del Atlántico, Barranquilla. MBA, Universidad del Norte, Barranquilla, Colombia. Estudiante de doctorado en Ciencias Sociales, universidad del Norte, Barranquilla. Docente universidad Sergio Arboleda, Barranquilla-Colombia. 

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How to Cite
Castrillón Cifuentes, J. A., & De León Cuesta, E. . (2021). Current challenges of social function of accounting. Cuadernos De Administración, 36(68), 176-189.