International Accounting and Financial Management

International Accounting and Financial Management
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International Accounting and Financial Management
Triple-bottom-line (TBL) accounting is a concept of international accounting and financial management that enables a business to report its economic, social, and environmental impacts. Indeed, it comprises people, the planet, and profit. Many large organizations have implemented corporate social responsibility programs to give back to society and participate in environmental conservation programs. Tseng et al. (2020) argue that TBL addresses the sustainability problem. For any enterprise to succeed in the global market, it must consider the economic, environmental, and social aspects (Tseng et al., 2020). Despite the primary focus of companies being on maximizing profits, they should also remember to conserve their surroundings and involve communities.
A sustainable firm balances profit, people, and the planet. For example, the article suggests that firms reduce carbon emissions and use technology to safeguard the environment. Technology plays a significant role in ensuring that organizations meet their environmental, social, and economic goals. For instance, a firm can measure the percentage of carbon dioxide in its surroundings to determine whether it emits greenhouse gases beyond the recommend...