cost301/ p

UNVEILINGTHE TRIPLE BOTTOM LINE IN COST ACCOUNTING FOR SOCIAL RESPONSIBILITY

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Saudi Electronic University
College of Administrative and Financial Sciences
E-commerce Department
Student Names:
Student IDs:
1. Arwa Khiyari
1. 200143203
2. Hana Sammur
2. 210053151
3. Manal Mohammad Asiri
3. 200211795
4. Sara Nasser Alshehri
4. 200206299
5. Rahaf Nazeer
Course Title: Cost Accounting
5.
Course Code: ACCT 301
Academic Year/ Semester:
2023/2024 _1st Term
CRN: 13976
Instructor Name: Habiba
Moabber
Project Presentation- GROUP X
Student Grade:
Grade Level: High/ Middle / Low
out of 10
2023
BALANCING THE BOOKS AND VALUES: UNVEILING THE TRIPLE BOTTOM LINE
IN COST ACCOUNTING FOR SOCIAL RESPONSIBILITY
TABLE OF CONTENT
2
INTRODUCTION
6
DISCUSSION
3
DEFINITION IMPORTANT KEY WORDS
7
CONCLUSION
4
METHODOLOGY USED
8
REFERENCES
5
INTERPRETATIONS
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INTRODUCTION
The goal of the triple bottom line is to encourage companies to focus on the
environment and social issues in addition to their profits.
E C O N O MIC A S PE C T
• “Profit is the financial bottom
line.”
• “Traditional accounting focuses on
this dimension.”
• “TBL extends beyond profit to
encompass overall economic impact.”
S O C IA L A S PE C T
• The People aspect focuses on
the impact on society and
stakeholders.”
• “It includes fair labor
practices, community
involvement, and social
equity.”
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E N V IRO N ME N TA L A S PE C T
• “The Planet aspect assesses the
ecological impact of
operations.”
• “It considers resource
consumption, waste management,
and environmental
sustainability.”
E C O N O MIC A S PE C T
IN TE RC ON N E C TE D N ES S
S OC IA L ASPE C T
E N V I RO N M EN TA L A S P E C T
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• “The three dimensions are interconnected.”
• “Positive performance in one area can
offset negatives in another.”
• “TBL encourages a holistic approach,
recognizing the interdependence of
economic, social, and environmental
factors.”
DEFINITION OF IMPORTANT KEYWORDS
SOCIAL
RESPONSIBILITY
ECONOMIC BOTTOM
LINE
SOCIAL BOTTOM LINE
SUSTAINABILITY
REPORTING
INTEGRATED
REPORTING
POSITIVE
CONTRIBUTION TO
SOCIETY, INCLUDING
SOCIAL IMPACT IN
TBL.
REFERS TO A
COMPANY’S
PROFITABILITY AND
FINANCIAL
PERFORMANCE
MEASURE COMPANY’S
SOCIAL IMPACT,
INCLUDING
RELATIONSHIPS AND
FAIR LABOR.
DISCLOSES COMPANY
PERFORMANCE,
SHOWS DEDICATION
TO RESPONSIBLE
BUSINESS.
MERGING NONFINANCIAL AND
FINANCIAL DATA FOR
DEEPER ANALYSIS,
ALIGNED WITH TBL
PRINCIPLES.
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WINTER 2030 RESULTS
METHODOLOGY
OVERVIEW
THE GOAL OF THIS STUDY IS INVESTIGATE LINK
BETWEEN
ACCOUNTING
AND
TBL
PRINCIPLES.
INTERVIEWS AND SURVEYS WITH SPECIFIC SAMPLE
TO
EVALUATE
SOCIAL,
ENVIRONMENTAL,
AND
ECONOMIC ASPECTS OF COMPANIES.
E MPIRIC A L S TU D Y
Utilizing empirical methods to investigate the
relationship between Triple Bottom Line and
accounting.
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THE GOAL OF THIS STUDY IS ANALYZE FACTORS
INFLUENCING
SUSTAINABLE
ACCOUNTING
POLICIES.
SYSTEMATIC
APPROACH
TO
INCLUDE
ETHICAL
CONSIDERATIONS. DATA ANALYSIS VIA STATISTICAL
METHODS. STUDY OFFERS INSIGHT INTO ACCOUNTING’S
ROLE IN ENHANCING SOCIAL AND ENVIRONMENTAL
SUSTAINABILITY.
METHODOLOGY INTERPRETATION
EMP IRICAL APPROACH
TARGETED SAMP L E
DY NAMI CS
Real-world data
collection through
surveys and interviews.
Examination of diverse
organizations to assess
TBL integration
Exploration of
economic, social, and
environmental
considerations in
decision-making.
STATISTICAL
ANALY SIS
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Utilization of
statistical methods for
in-depth insights.
PRACTI CAL
APPL I CATION
Uncovering how TBL
principles are
practically applied in
varied business
settings.
SY STEMATI C
PROCEDURE
Ensuring a methodical
process for robust and
reliable data.
L I MI TATIONS
ACKNOWLEDGMENT
Awareness of inherent
limitations in
empirical studies.
IMPACT ON
SOCIAL
RESPONSIBILITY
02 POSITIVE SOCI AL IMPACTS
COURSE EXPLORES TBL IMPACT ON
EMPLOYEE WELL-BEING, FAIR LABOR,
SOCIAL EQUITY, AND COMMUNITY
ENGAGEMENT.
9/12
01 COMMUNITY AND STAK EHOL DER REL ATI ONSHI P S
STUDY
EXPLORES
POSITIVE
STAKEHOLDER
RELATIONSHIPS.
TBL
ILLUSTRATED
TO
ENHANCE
SOCIAL
RESPONSIBILITY
VIA
COMMUNITY
PARTICIPATION.
03 CORP ORATE REP UTATI ON
DISCUSSION EXPLORES TBL IMPACT
ON COMPANY IMAGE. CASE STUDY
SHOWCASES BRAND REPUTATION
IMPROVEMENT.
04 EMP L OY EE SATI SFACTI ON AND
COMMI TMENT
THE GOAL OF THIS STUDY IS
EXPLORE
TBL
IN
ADDRESSING
SOCIAL
CHALLENGES,
DISCUSS
INITIATIVES’
CONTRIBUTION
TO
SOCIETAL WELL-BEING.
CONCLUSION
Our investigation identifies adopting Triple Bottom Line principles in
accounting as a promising approach for holistic operations. This fosters
informed decision-making for societal benefit. Findings emphasize the
importance of a positive corporate image through stakeholder involvement and
fair labor practices. TBL acts as a catalyst for social responsibility and
sustainability. Despite acknowledged limitations, the study underscores the
clear positive impact: adopting a responsible business approach improves
performance. The study urges companies to implement TBL principles for a more
ethical and sustainable future.
10/12
REFERENCES
• Activity-based Costing (ABC) vs Traditional Costing – The Strategic CFO®. (2013, July 23). The Strategic CFO®.
https://strategiccfo.com/articles/banking-financing/activity-based-costing-abc-vs-traditionalcosting/#:~:text=Activity%20based%20costing%20systems%20are,activity%20based%20costing%20is%20difficult.
• Boyd, K. (2016, March 26). Methods of Joint Cost Allocation in Cost Accounting dummies. Dummies.
https://www.dummies.com/article/business-careers-money/business/accounting/general-accounting/methods-of-jointcost-allocation-in-cost-accounting-164991/
• Franklin,
M.
(n.d.).
Accept
or
reject
a
special
order.
Pressbooks.
https://oer.pressbooks.pub/utsaccounting1/chapter/evaluate-and-determine-whether-to-accept-or-reject-a-specialorder/#:~:text=For%20example%2C%20if%20the%20company,adding%20additional%20equipment%20or%20workers.
• Nate. (2023, July 24). What is a Non-Routine Decision? SuperfastCPA CPA Review. https://www.superfastcpa.com/whatis-a-non-routinedecision/#:~:text=Examples%20of%20non%2Droutine%20decisions,changes%20to%20the%20organizational%20structure.
• Traditional
costing
vs.
Activity-Based
costing.
(2019,
January
31).
Small
Business
Chron.com.
https://smallbusiness.chron.com/traditional-costing-vs-activitybased-costing-33724.html
• Types
of
Non-Routine
Decisions
Accountingverse.
(n.d.).
accountingverse.com.
https://www.accountingverse.com/managerial-accounting/relevant-costing/non-routine-decisions.html
• Young,
J.
(2023,
January
30).
Split-Off:
What
it
is,
How
it
Works,
Examples.
Investopedia.
https://www.investopedia.com/terms/s/splitoff.asp#:~:text=What%20Is%20a%20Split%2DOff,each%20with%20its%20own%20structuring.
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THANK YOU
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