Harmony in Numbers: Unifying Management and Accounting For Financial Success

Siva Prakash C. S.; Aliya Sultana; Piyush Mehta; Heera S. Kumar; Basil Mahmod Ali Defalla; Prakash Divakaran; Vinay Raj R. Dean

doi:10.24857/rgsa.v18n9-053

Autores/as

Siva Prakash C. S. https://orcid.org/0009-0004-4537-939X
Aliya Sultana https://orcid.org/0000-0003-1701-7899
Piyush Mehta https://orcid.org/0000-0001-5002-325X
Heera S. Kumar https://orcid.org/0000-0002-8153-8421
Basil Mahmod Ali Defalla https://orcid.org/0009-0003-9836-5242
Prakash Divakaran https://orcid.org/0009-0001-7185-1326
Vinay Raj R. Dean https://orcid.org/0000-0003-3829-8327

DOI:

https://doi.org/10.24857/rgsa.v18n9-053

Palabras clave:

Integrated Financial Management, Accounting Practices, Financial Success, Management Strategies, Contemporary Finance, Resource Optimization, and Financial Paradigms

Resumen

Purpose: This research explores the interplay between accountancy, finance, and management, aiming to achieve financial success through integrated approaches, enhancing strategic decision-making, resource allocation, and organizational sustainability.

Theoretical Framework: This research integrates traditional accounting methodologies with modern management paradigms to explore the dynamic interplay between accountancy, finance, and management. Key theoretical perspectives include Agency Theory, Stakeholder Theory, Financial Economics, Management Theory, and Systems Theory.

Design/Methodology/Approach: This research uses a mixed-methods approach to explore the relationship between accountancy, finance, and management. It uses literature review, qualitative analysis, quantitative analysis, comparative analysis, framework development, and integration of qualitative and quantitative findings to provide a comprehensive understanding of the synergies between these areas for organizational success.

Findings: This research highlights the importance of integrating traditional accounting practices with modern management principles for comprehensive financial management. It emphasizes the transformative potential of integrating financial and managerial approaches for organizational success, strategic decision-making, and a resilient financial paradigm. This approach enhances transparency, accountability, and performance.

Implications: This research offers valuable insights for professionals, organizations, policymakers, and academia in understanding the synergies between accounting, finance, and management. It can improve decision-making, optimize resource allocation, and drive organizational performance. Policymakers can use the findings to develop policies promoting integrated financial management, while educational institutions can update curricula.

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