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EDUCATING CORPORATE SOCIAL RESPONSIBILITY: LESSON LEARNED FROM THE MARKET

Corporate social responsibility disclosure becomes one of the popular topics in accounting education curricula as non-financial information for supporting decision making. Conceptually, corporate social responsibility disclosure is a reflection of company ethical behavior in their business practice. Its simplicity dan flexibility in the content reporting compare to complex and rigid information in financial statements start to make it more preferable when analyzing the fundamentals of the company. Evidence from the market shows that companies enjoy financial benefits by actively disclosing their corporate social responsibility. However, there are also cases where companies active in disclosing their social responsibility activities and gain predicate as socially responsible companies also involve in accounting scandals. These facts reveal that corporate social responsibility disclosure can also be used as a strategy to disguise corporate financial misconduct by using naturalistic fallacy in society. Corporate social responsibility has evolved not only to be limited to business ethics but has become part of a company’s strategy and can even become a misleading strategy. Educating both conceptual and market-based lessons will give a broader but cautions perspective when analyzing a company’s information. Using several Indonesian companies as case study, this paper provides evidence that non-financial information should be complementary rather than a substitution for the financial information, thus supporting the development of integrative reporting as a solution to get a comprehensive outlook of the company.