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What is social responsibility reporting? Is it true that value added statements are non standardized? Could involve the inclusion or exclusion of certain items like depreciation, taxation etc.
The general definition of Value added stands for financial or non financial benefit or improvements in the current process. The management would like to know the value added benefits by paid employees to the organisation in each quarter.
If there is a significatnt change in the rates of depreciation or taxation, those could be highlighted in the report.
Social responsibility reporting should include the events contributing by the Corporate sector to the society by way of donation for education/sports, charity for flood victims or blood donations, etc,
