What does TBL mean in Accounting?
This page is about the meanings of the acronym/abbreviation/shorthand TBL in the Business field in general and in the Accounting terminology in particular.
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What does TBL mean?
- Triple bottom line
- In traditional business accounting, the "bottom line" refers to the sum of revenue minus expenses, which is either "loss" if negative, or "profit" if positive. The term originated because profit is always shown as the very "bottom line" on a statement of revenue and expenses. Over the last 50 years, environmentalists and social justice advocates have struggled to bring a broader definition of "bottom line" into public consciousness, by introducing full cost accounting. For example, if a corporation shows a monetary profit, but their asbestos mine causes thousands of deaths from asbestosis, and their copper mine pollutes a river, and the government ends up spending taxpayer money on health care and river clean-up, how do we perform a full societal cost benefit analysis? The concept of a triple bottom line adds two more "bottom lines"; social and environmental concerns. The three together are often paraphrased as "Profit, People, Planet", or referred to as "the three pillars" 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. Similar UN standards apply to natural capital and human capital measurement to assist in measurements required by TBL, e.g. the EcoBudget standard for reporting ecological footprint.