Assessment of Government Policy and Social Accounting in the Sugar Industry with Reference to Western Uttar Pradesh

Abstract

In this modern era with a cyclic revolution as per need of the period, a new accounting dimension named social accounting is needed. A branch of accounting called social accounting is concerned with the workings of a social system. As a form of community accounting, it is possible to see it this way. Product quality, safety, equal employment opportunity, charitable contributions, and employee perks are just a few examples of responsibilities of social accounting. Corporate social responsibility (CSR) and government role towards social accounting are laid out in detail in this document. It is helping to develop a system to monitor social performance. Governments must play a role in ensuring that corporations follow societal rules and norms; corporations benefit from CSR activities due to their social influence and acceptance. The present paper examined the role of the government policy framework in India in light of the mandatory Social Account guidelines stipulated in the Companies Act of 2013. During the Industrial Revolution, the concept of social accounting was born. In this manuscript, the role of the government and the policy regarding Social Accounting in sugar industry is justified. The relevant data for this study was gathered using various research journals, articles, sugar mill financial statements, sugar mill CSR reports, and online resources of various platforms.