Management Accounting in India

This chapter surveys the history, evolution and current status of accounting systems and practices in India. Tracing the roots of Indian accounting systems to the ancient civilization of the Indus Valley, we discuss the accounting contributions of historical writings such as the Smritis and the Arthashastra. We also discuss the accounting system used by the East India Company. Next we provide an overview of contemporary Indian accounting systems and institutions, and accounting education and curricula. We discuss the prevalence of modern management accounting practices in Indian companies. We conclude with a discussion of future research opportunities provided by India's current status as an emergent economic power.