Indian Knowledge System (Iks) In Accounting: Relevance And Application In Modern Accounting Practices

Abstract

The Indian Knowledge System (IKS) encompasses the traditional knowledge, ethical principles and administrative practices developed in India over centuries. Ancient Indian tax laws, such as those in the Arthashastra, Manusmriti, and Vedic literature, contain significant references to accounting, auditing, taxation, and financial administration. The present study examines the awareness, relevance, and applicability of IKS principles in contemporary accounting education and practice. Primary data were collected from students, teachers and accounting professionals. Statistical techniques such as correlation, regression, t-tests, chi-square, and ANOVA were used for hypothesis testing. The findings reveal that awareness of IKS positively influences ethical accounting practices and the acceptance of indigenous accounting principles.