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For the past five months, I’ve been helping Third Sector research the nascent field of social impact accounting – the practice of measuring and quantifying the social impact of organizations and investments.  Third Sector was interested in exploring the demand for social impact accounting among investors and philanthropic organizations, as well as investigating opportunities to apply the lessons the firm has learned from its Pay for Success work more broadly.

While generalized social impact accounting principles are accepted and widely used today, they are a relatively recent development: The Financial Accounting