1103 The need for a new accounting solution (original) (raw)

The paper addresses the inadequacy of current accounting methods in capturing the true impacts of corporate activities on the environment and society. It argues that traditional economic models, which often exclude externalities, are no longer sufficient in the face of modern corporate complexities. The proposed solution is a new accounting framework termed Total Human Impact Accounting©, which prioritizes people as the fundamental units of assessment, aiming to create a more holistic understanding of corporate social responsibility through descriptive measures and a global cooperative network.