Integral household accounting for accounting wisdom under the sufficiency economy philosophy of community enterprises in Loei Province

Abstract

This study aims to 1. examine the current state of household accounting practices under the sufficiency economy philosophy among community enterprises in Loei Province, 2. investigate attitudes, problems, and obstacles in applying household accounting based on the sufficiency economy philosophy among these enterprises, and 3. analyze and propose guidelines for household accounting that contribute to the development of accounting wisdom under the sufficiency economy philosophy for community enterprises in Loei Province. The sample population consisted of 287 community enterprises in Loei Province, employing both quantitative and qualitative research methods. The findings revealed that the sufficiency economy philosophy has a statistically significant positive impact at the 0.05 level on household accounting practices among community enterprises in Loei Province. Furthermore, household accounting practices influence the development of accounting wisdom, and the sufficiency economy philosophy significantly enhances accounting wisdom within these enterprises. Regarding the current problem in implementing household accounting under the sufficiency economy philosophy, the study found that community enterprises faced difficulties in understanding product development procedures, had an insufficient budget for operations, and struggled with product diversification. In terms of attitudes, problems, and obstacles, most enterprises reported limited time for maintaining accounts, while some lacked personnel with proper accounting knowledge. To enhance accounting wisdom under the sufficiency economy philosophy, the study suggests that each stakeholder collaboratively put effort into enabling community enterprises to effectively apply household accounting as a tool for improving their accounting systems.