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Title: ANALYSING THE RISING TREND OF CSR REPORTING, ITS SIGNIFICANCE, RECORD KEEPING OF SUCH NON FINANCIAL INFORMATION AND CHALLENGES FACED IN DOING SO
Authors: Shivya Agrawal
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Shivya Agrawal Unison World School, Dehradun, 248009, India
MLA 8 Agrawal, Shivya. "ANALYSING THE RISING TREND OF CSR REPORTING, ITS SIGNIFICANCE, RECORD KEEPING OF SUCH NON FINANCIAL INFORMATION AND CHALLENGES FACED IN DOING SO." Int. j. of Social Science and Economic Research, vol. 8, no. 6, June 2023, pp. 1256-1266, doi.org/10.46609/IJSSER.2023.v08i06.004. Accessed June 2023. APA 6 Agrawal, S. (2023, June). ANALYSING THE RISING TREND OF CSR REPORTING, ITS SIGNIFICANCE, RECORD KEEPING OF SUCH NON FINANCIAL INFORMATION AND CHALLENGES FACED IN DOING SO. Int. j. of Social Science and Economic Research, 8(6), 1256-1266. Retrieved from https://doi.org/10.46609/IJSSER.2023.v08i06.004 Chicago Agrawal, Shivya. "ANALYSING THE RISING TREND OF CSR REPORTING, ITS SIGNIFICANCE, RECORD KEEPING OF SUCH NON FINANCIAL INFORMATION AND CHALLENGES FACED IN DOING SO." Int. j. of Social Science and Economic Research 8, no. 6 (June 2023), 1256-1266. Accessed June, 2023. https://doi.org/10.46609/IJSSER.2023.v08i06.004.
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ABSTRACT: CSR refers to the obligations on a company to take decisions or actions that is in favour of the society. CSR has been growing at a good pace but it does come along with many challenges which if addressed within the time, can bring about a significant change in the sustainability of the environment. This report examines the growing trend of CSR reporting, its significance, record keeping of such activities, and the challenges faced in doing so. While CSR reporting is not legally mandated in most countries, it is still compulsory in many countries. This research paper imparts the complexity of record keeping of such activities and the legalities along with it. It also analyses the significance of recording such non financial information including transparency, brand image, motivation for the employees. competition and direct contact with the society. However the report also examines the challenges faced in including such non financial information into financial foray. The study shows remarkable growth in CSR reporting in India with respect to different years. The cost incurred by the organisation in order to perform CSR activities is treated as an expense for the firm which is to be recorded in the Statement of Profit and Loss for the particular year. The Board of Directors of a company are answerable for improper utilisation of intended CSR expenditure of the company.

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