Thabit H. Thabit1, Mohammed A. Mohammed2, Omar S. Azeez3
1College of Electronics Engineering, Ninevah University, Mosul, Iraq
2College of Administration and Economic, University of Mosul, Mosul, Iraq
Email: [email protected]
DOI: 10.23918/ICABEP2022p36
Abstract
This paper aims to explain the effect of triple bottom line (TBL) theory on the practices of sustainability accounting and diagnose the challenges that companies can face when applying TBL. Therefore, the importance of the paper stems from the value of applying TBL theory and the reflection of its effects on the applications of sustainability accounting and its positive effects on the environment, reduce pollution, conserve the environment, and reduce the negative effects of the organization’s activities. The researchers analyze the five-year financial statements of 4 petroleum companies in Kurdistan Region of Iraq and measure the three-bottom line (3P) which are Profit, People, and Planet. The researchers conclude that the level of applying the sustainability accounting practice in Kurdistan Region is very weak but there are many indications that the level of application will improve in the near future due to the possibility of many companies adopting the TBL theory. So, the researchers recommend to the need to spread the culture of TBL theory by organizing the scientific conferences and training courses, in addition to the need to formulate legal legislation that stipulates the need to pay attention to environmental and social aspects and disclose them in the financial statements.
Keywords: Triple bottom line theory, sustainability accounting, petroleum sector, financial statements
ICABEP2022
International Conference on Accounting, Business, Economics and Politics
4th joint conference organized by the collaboration of the Faculty of Administrative Sciences and Economics,
Tishk International University, College of Administration and Economics, Salahaddin University-Erbil, and
University of Szczecin, Poland.
