Humanomics

Purpose – The purpose of this paper is to contribute to the theory and applications in social business and accountability.

Design/methodology/approach – The paper develops the theoretical arguments, shows the importance of non-accounting measures, explores available non-accounting measures and suggests BSC as an externally validated reporting tool.

Findings – There is a need to expand the accounting base to non-financial measures; social business and social enterprises do not have externally validated performance reports and there is no benchmark data to compare performance.

Research limitations/implications – This is a conceptual and theoretical study. It needs empirical validation.

Practical implications – Using the suggested measurement and reporting will make public accountability transparent and expand the accountant's social role. It will motivate teaching of social business in accounting.

Social implications – The study supports social business as a legitimate entity; corporations engaged in social business will be more publicly responsible; the study will encourage investment in social business; small entrepreneurs from the bottom of the society will have an opportunity to participate in the economy; and the poor will participate in the economy, will expand the economy and contribute to social and economic development.

Originality/value – The paper includes guidelines for implementing the proposed BSC, performance measurements and reporting techniques.