TRENDS, DIFFICULTIES, AND POSSIBILITIES IN STRATEGIC MANAGEMENT ACCOUNTING PRACTICES IN INDIAN UNIVERSITIES

Abstract

The study explores developments, challenges and opportunities involved in the adoption of Strategic Management Accounting (SMA) in Indian higher education institutions. By taking an interest in utilizing advanced accounting techniques for strategic purposes, SMA is in a position to cause a significant impact in the Indian universities by improving their financial operations, resource distribution and overall operation effectiveness. Through the use of SMA, the long term planning, cost control and performance review become enhanced thereby building the effectiveness of institutions. Other than these, the study reveals a move into the integration of technological solutions such as AI, Enterprise Resource Planning (ERP) and the use of data analytics to conduct informed decision making. Besides, universities are focusing on sustainability, risk assessment, and performance budgeting system to improve on financial planning strategies. However, institutional adoption of SMA remains temperamental due to a variety of hardships. Resistance to innovate from within the firm, finance constraints, complex regulatory rules, and lack of competent personnel can be good barriers to the implementation of SMA. Furthermore, inadequate technological tools and a lack of consciousness on the part of administrators are additional barriers. The analysis suggests that the great support SMA growth in Indian higher education institutions will receive through policy reforms, strategic technological upgrades and increased training of University staff. The review presents concrete steps that are possible, such as collaboration with government and industry experts, to make financial sustainability and accountability better in universities.