Triple bottom line accounting- need of the hour for sustainability goal
CHOPRA, MANJU PUNIA
Triple bottom line accounting- need of the hour for sustainability goal - 2012 - 60-64
Being sustanable has been the talk of the business town in the past decade. But the big question still remains- How to measure the degree to whic an organisation is being sustainable? John Elkington- the man behind the concept of measuring sustainability strove during mid 1990's to encompass a new framework for measuring performance in corporate America. This new accounting framework was called Triple Bottom Line accounting (TBL), #BL, and 3P's. It went much beyond the traditional boundries of measuring profit, return on investments, shareholder's value etc. TBL accounting focuses on comprehensive investment results i.e. in line with performance along the interrelated dimensions of profit, planet and people.
ACCOUNTING
657
Triple bottom line accounting- need of the hour for sustainability goal - 2012 - 60-64
Being sustanable has been the talk of the business town in the past decade. But the big question still remains- How to measure the degree to whic an organisation is being sustainable? John Elkington- the man behind the concept of measuring sustainability strove during mid 1990's to encompass a new framework for measuring performance in corporate America. This new accounting framework was called Triple Bottom Line accounting (TBL), #BL, and 3P's. It went much beyond the traditional boundries of measuring profit, return on investments, shareholder's value etc. TBL accounting focuses on comprehensive investment results i.e. in line with performance along the interrelated dimensions of profit, planet and people.
ACCOUNTING
657