Financial reporting for environmental and social responsibility: a normative strategic concept

Corporate responsibility demands that firms address environmental and social values in their firm?s policy and key performance indicators. These are integrated through strategic planning and require firms to merge the longer term environmental and social values with short term economic objectives and performance measures. Each firm?s strategy will differ. This paper provides a normative reporting concept to connect the financial implications associated with longer term planning for environmental and social values, with short term accounting reports. Reporting variants adapted from total cost assessment, life cycle costing, variable costing are integrated to offer upstream information based on a product segment view.