From the movie "Office Space", the acronym is short-hand for so many possible word combinations, however the beauty of the T.P.S. Report is that no one truly knows what it is or what "T.P.S" stands for. Used to express that something is useless busy-work.
"I can't stand these freakin' T.P.S. Reports that we have to do for biology class."
This Place Sucks Report. The corporate america has been so bogged down with status reports that no work gets done because you spend all day giving your status to obnoxious product managers. Let them know how you feel in the next TPS Report.
Boss: Did you get that project done?
Me: Actually I haven't had time to start a new one.
Boss: Mmmm yeah, well send me a TPS Report with its status.
Me: This Place Sucks.
A report, usually printed on soft, pliable paper. 'tps' is an acronym for Toilet Paper Substitute. Submitting a tps report without the requisite cover page is tantamount to leaving the toilet seat up after taking a leak. Both events usher a series of comments by superiors and peers alike.
"Could you pass some of your tps report under the stall wall, I'm fresh out"
What your evil "OOOOOhhh Kay...Yeah" boss runs around and tells you to do. Your boss' name MAY be "Lumbergh" but not necessarily. Be sure to file these in the proper folders, or they will NOT be accepted.
Lumbergh: "Ummm...Yeah, Peter, I really need you to turn in those TPS reports..."
*takes a sip of his coffee*