Integrating Indian Knowledge Systems into Modern Accounting for Ethical and Sustainable Financial Practices

Sonali P. Patil

Department of Commerce & Accountancy

CSM's Arts & Commerce College Padgha

Email: patilsonali889@gmail.com

Abstract :Indian Knowledge Systems (IKS) represent a rich intellectual heritage encompassing philosophy, economics, ethics, and governance. While modern accounting is primarily influenced by Western economic thought, traditional Indian texts such as the Arthashastra, Dharmashastra, and classical economic philosophy contain sophisticated ideas about financial management, taxation, accountability, and ethical governance. This paper explores the relevance of integrating Indian Knowledge Systems into modern accounting education and practice. Using a conceptual and literature-based research approach, the study examines how traditional principles such as Dharma (ethical duty), Artha (economic prosperity), and transparency in governance can strengthen contemporary accounting frameworks. The paper proposes a model that integrates ethical values from Indian knowledge traditions with modern accounting practices to promote sustainable and responsible financial management. The studies indicate that incorporating IKS into accounting curricula can enhance ethical decisionmaking, cultural relevance, and holistic financial accountability in organizations.

Keywords: Indian Knowledge Systems, Accounting Education, Ethical Accounting, Arthashastra, Sustainable Finance.