TRIPLE BOTTOM LINE (TBL)
Reporting is one of the critical parts in corporate reporting. Traditional reporting was restricted to financial perspective only. In due course, it has been observed that mere reporting of financial data is not proving worthy in assessing the performance of a business. Hence the reporting by corporate is extended to 3P’s also known as Triple Bottom line. Profit is more of traditional reporting tool, while people and planets are equally essential in TPL reporting. Key advantages in enactment of Triple bottom line are value enhancement, attracting and retaining high-performing workers etc. Though very significant to have a TBL but various challenges still exit in using TBL.