DOI: 10.18848/2324-7576/cgp/a308 ISSN: 2324-7584

Revisiting Accounting Values Through Local Wisdom

Sully Kemala Octisari, Bambang Agus Pramuka, Wita Ramadhanti
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This study examines how local cultural wisdom shapes accounting values within the Banyumas Penginyongan community in Indonesia. Drawing on Gray’s accounting values framework and Hofstede’s cultural dimensions, the study explores how social norms such as egalitarianism, openness, prudence, and communal deliberation influence financial reporting orientations and economic decision-making practices. The research adopts an interpretive phenomenological approach and is based on in-depth interviews with cultural observers, academics, tourism managers, and local business actors, complemented by historical and cultural documents. The findings indicate that accounting values within the Penginyongan context reflect a dynamic balance between statutory control, consistency, conservatism, transparency, calculated risk-taking, short-term pragmatism, and an emerging long-term orientation. These orientations are embedded in agrarian perspectives, traditions of social harmony, and collective moral commitments within the community. Rather than representing rigid or contradictory practices, local accounting practices appear as an ongoing negotiation between formal institutional standards and inherited cultural principles. This study contributes theoretically by demonstrating that local culture functions not only as an external environmental factor but also as a normative foundation that shapes legitimacy, accountability, and sustainability in accounting practices. Practically, the findings highlight the importance of designing financial reporting systems that remain sensitive to communal values while complying with formal regulatory frameworks. In the Penginyongan context, accounting operates not merely as a technical mechanism but also as a reflection of shared cultural ideals concerning harmony, transparency, and collective welfare.

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