Accounting Within Indigenous Communities

This research paper studies the current Indigenous accounting institution and proposes methods to further develop the institution. The paper begins by emphasizing the difference between the western accounting ideologies and Indigenous accounting. It argues how the end goal of accounting in western society is profitability and focuses on monetary exchange and money related transactions. Whereas in Indigenous communities, the end goal is sustainability and there is an emphasis on their traditions, customs and cultures. In the current environment, the study and development of Indigenous accounting institutions is critical for the overall growth of Indigenous communities. The development of Indigenous accounting institutions can also aid western accounting institutions by fostering collaboration and integration of Indigenous sustainability values into western societies and the ESG movement. The research consisted of interviews, journals, peer-reviewed articles, Indigenous CPA courses, and cultural psychology/educational development studies. In order to better understand the interconnection between the different aspects of Indigenous institutions, the paper also analyzes the social, legal, cultural, and economic aspects. Additionally, concepts such as Indigenomics, barter system, Bourdieu’s theory, and ‘Disempowerment and Empowerment’ were also applied. After identifying and analyzing the main issues, the paper presents an implementation plan; suggests a few proposals to solve the issues discussed.