User:Amira o0

Triple Bottom Line In Accounting /Reporting The TBL is an accounting framework that incorporates three dimensions of performance: social, environmental and financial. This differs from traditional reporting frameworks as it includes ecological (or environmental) and social measures that can be difficult to assign appropriate means of measurement. The TBL dimensions are also commonly called the three Ps: people, planet and profits. Where it comes from? With the ratification of the United Nations and ICLEI TBL standard for urban and community accounting in early 2007, this became the dominant approach to public sector full cost accounting http://en.wikipedia.org/wiki/Triple_bottom_line Why used? The application of the TBL by businesses, nonprofits and governments are motivated by the principles of economic, environmental and social sustainability, but differ with regard to the way they measure the three categories of outcomes. Proponents who have developed and applied sustainability assessment frameworks like the TBL encountered many challenges, chief among them, how to make an index that is both comprehensive and meaningful and how to identify suitable data for the variables that compose the index.

Why is it important in accounting ? A model/concept for compelling business leaders to consider more than just money and it requires business leaders and owners to balance social, financial and environmental priorities (‘sustainable capitalism’)