The accounting process of a corporation focuses on profit but places the recognition of social significance of accounting as a low priority. Accounting assumptions such as objectivity and neutrality have led to issues of social significance and are now threatening the status quo of conventional practices for corporations. Corporations are now starting to understand that accounting information extends beyond an economic focus. Social and political issues are vital for the accounting practice and that extension and modification to present conventional practices are undeniable. There have been many environmental disasters, notably the Chernobyl Incident, which has affected the involvement of the accounting process in social issues. These events have used accounting to serve the wants of few people. These people used accounting data to manipulate social reality by the influence of financial reality. This allows for traditional accounting norms to serve purposes beyond conventional accounting.
Conventional accounting is based on neoclassical economics school of thought that focuses on maximization of profitability. Some authors believed that social responsibilities come secondary to the pursuit of profit maximization. "Few trends would so thoroughly undermine the very foundation of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their shareholders as they possibly can." Corporations do not deal with social issues well. Their main focus is increasing their profits in the market for which they have chosen. Due to the various markets techniques corporations do not solve social conflicts that are present in mainstream accounting because efficient markets rarely exist. Since most corporations have allowed individual performance to lead them to a capitalist focus in accounting while at the same time ignoring social issues.