The Management Accountant - May 2024
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6 The Management Accountant - May 2024
www.icmai.in
Social Impact assessment: An empowering approach towards achieving India’s Social Welfare Objectives
A
social
impact
assessment is a
process of research,
p l a n n i n g
a n d
management of social change
or consequences (positive and
negative, intended and unintended)
arising from policies, plans,
developments and projects (UNEP,
2007).
Social impact assessment
(SIA) focuses on the well-being
of communities, including factors
like education, healthcare and
poverty alleviation. It is a tool
for doing development better.
Impact assessment methodologies
have now emerged which can
predict negative project impacts,
enabling the planners to put in
place the plans to mitigate their
adverse social consequences
taking into consideration the fact
that displacement affect different
groups differently, with poorer
groups bearing the most. Impacts
also differ from one project type
to another. SIA aims to strike
a balance between economic
development goals and the
preservation of social well-being.
It seeks to achieve sustainable
development that benefits both
the project’s proponents and the
affected communities.
SIA also encompasses
empowerment of local people;
enhancement of the position
of women, minority groups
and other disadvantaged or
marginalized members of the
society; development of capacity
building; alleviation of all forms
of dependency; increase in
equity; and a focus on poverty
reduction. However, awareness
of the differential distribution of
impacts among different groups
in society, particularly the impact
burden experienced by vulnerable
groups in the community should
always be of prime concern.
This issue of Management
Accountant is focusing on
Social Impact Assessment: An
empowering approach towards
achieving India’s social welfare
objectives. Various authors have
contributed thought provoking
articles based on the theme of this
issue.
Women’s Collective (WC) is a
formal gathering of women who
come together in different types of
groups to offer each other support
and address barriers together.
Social Impact Assessment:
Women’s Collectives in Urban
Women’s Economic Capacitation
brings out the different problems of
the women and the role of women’s
collectives.
Social audit measures
comprehends, reports, and
eventually improves a business’s
social and ethical performance.
Social Audit: A Key Enabler for
Enhancing Outcomes of Social
Projects explains how social
audits assist businesses in striking
a balance between social duty and
profits.
A Comprehensive Analysis of the
Behavioural Factors Influencing
Stock Market Investing examines
eleven prominent behavioural
factors, ranging from cognitive
dissonance to endowment bias,
to clarify how they emerge in
investment choices and the
resulting impact on stock market
performance.
Developing institutional
mechanisms for community
engagement as part of the
curriculum is crucial for
achieving socio-economic goals.
Despite the available literature,
comprehensive surveys on HEIs’
outreach programs in Haryana’s
State Universities are lacking.
Impact Assessment of Community
Outreach Programs Run by
Higher Education Institutions:
Students’ Perception seeks to fill
this gap by assessing students’
perceptions, satisfaction levels
and institutional avenues for
community engagement programs.
Strengthening Social Audits in
India: A Bibliometric Perspective
is focused on the deep analysis of
the research done in the field of
social audit in India. It analyses
39 papers written since 1992 in
the field of social audit in India.
The objective of the article MSP
and Cost of Cultivation of Crops in Relation
to Mechanisation of Cultivation of Crops is to
bring out the impact of mechanisation on cost
of cultivation of crops in Telangana State and to
examine the minimum support price (MSP) in
relation with mechanisation cost of cultivation
crops in Telangana State.
Social Impact Assessment through Valuation
of Social Wealth Created by CSR Expenditures
in India tries to measure and quantify. the social
impact of CSR initiatives through social wealth
creation by all Indian companies.
Behavioural biases subtly but significantly
influence investment decisions. Unveiling the
Hidden Drivers of Investment Choices explores
the multifaceted impact of such behavioural
biases on investment choices, uncovering the
underlying drivers and implications for the
modern investment landscape.
Relevance and Benefits of Social Impact
Assessment in CSR Context attempts to showcase
the relevance, scope and the benefits of an impact
assessment in the context of corporate social
responsibility.
Impact Assessment of CSR In India - A Study
on BSE Sensex Companies is an attempt to
investigate the recent trends in impact assessment
of CSR projects undertaken by companies in the
backdrop of the amendment of the Companies
(CSR Policy) Rules, 2014 which mandate
companies, satisfying certain eligibility criteria,
to initiate impact assessment by independent
external agencies.
Apart from these, this issue contains articles
on various other contemporary topics also.
We are privileged to publish an interview
with CMA Jose V J, Director (Finance), Cochin
Shipyard Ltd.
Our thanks to all who have sent articles for
this issue.
Please share your thoughts with us at editor@
icmai.in
Enjoy Reading!
From the Editor’s Desk
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