Accounting Theory

Triple backside line encompassage: the better system for company Abstract: As the economy grows, traditional report methods cannot jar against the needs of modern society, some organizations and stakeholders require personal credit line entities to divine revelation more information, such as well-disposed responsibility, environsal consummation and sustainable development. Under this circumstance, the triple bottom line (TBL) describe has been defined by Elkington in 1997. The search result counselling on three parts of TBL reporting. Firstly, it will state several(prenominal) elements of good TBL reporting. Then, it will provide most benefits and limitations of TBL reporting to gild whether it can prevent the drawbacks for traditional accounting recording. afterward that, some of impelling suggestions are given. The research will entreat that as the TBL reporting is associated with economicalal, environmental and social performance and it has cover more fields, thus, this reporting are benefits not only for economic further also for environment and social activities. However, since this reporting is a stark naked reporting and only appears a hardly a(prenominal) years, additionally, it has not been examined excessively much and lacking of some effective methods to implement in practice. Therefore, TBL reporting needs a yearn period of amelioration and accepts by most of the business entities for a long time.

initiation: Companies have traditionally been conceptualized as economic body with the major(ip) d uties for manufacturing commodities and ret! urning services as effective as possible. A new period for business reporting is imminent. near the world, many corporations have realized that traditional financial reports and constituted accounting recording methods are not adequate to supply well-rounded information to satisfy with the stakeholders benefits and organizations requirements. As the importance of sustainability environment and social activities for public interest, more and more individuals and...If you want to get off a full essay, order it on our website: BestEssayCheap.com

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