Résumé
The good CSR practices initiated by companies suffer from an accounting under-representation in the financial statements. In the light of current French legal developments, we propose an alternative with the accounting recognition of CSR, as a constituent element of the purchased goodwill.In France, the Pacte Law has introduced all companies in the debates relating to CSR, until then rather reserved for large companies. The first major impact of the Pacte Law was to bring about a change in the definition of the company (French civil code, art. 1833), which must be "managed in its social interest, taking into account the social and environmental issues of its business activity”. The effective consideration of these issues has therefore become mandatory, in the sense of a means obligation. The Pacte Law has also encouraged a reflection on the company’s purpose as an internal management tool. Likewise, a new type of company, subject to specific rules, has emerged, that is a mission-led business , whose articles of partnership "specify one or more social and environmental objectives that the company sets itself the mission of pursuing within the framework of its activity".In the continuity of this legal news, we wonder if the CSR recognition, as a constituent element of the purchased goodwill, would be in line with the French financial accounting norms. To do so, we propose an in-depth analysis of the current financial accounting norms.This reflection is part of the logic characteristic of the accounting dynamic approach, according to which all the costs incurred by the company, tangible or intangible, take their place in the balance sheet, because they are necessary for its economic project. Thus, the obligation imposed on all companies to take into account their social and environmental issues raises the legitimate question of the accounting recognition of their social and environmental practices and thereby of the CSR performance created.However, it must be noted that current accounting rules do not allow CSR to be recognized as an asset and more particularly as an intangible asset. Our proposal consists in suggesting the valuation of the company’s CSR as a constituent element of the purchased goodwill. This proposal seems to be consistent with the definition of goodwill, as set out in the French commercial code (art. R123-186). It is all the more justified since the CSR performance is likely to represent a significant recorded value, compared to the other elements representing the current goodwill, in line with the French accounting regulation .This accounting option would make it possible to compensate for the accounting under-representation of the social and environmental company's issues. By doing so, the CSR reporting would no longer be the only way to represent transactions made by the company with its stakeholders. It would also address the main criticism of the CSR reporting inability to produce standardized information.