A study on Marwari accounting system and Marwari business tradition

Abstract

The talismanic tricks of the Marwari community lies in their bewildering way of doing business particularly in India which has brought a seismic shift in the landscape of trade and commerce. The eye-twitching financial business acumen and innovative strategic planning adopted by the Marwari businessmen saw them being perched among the most dominant players in the Indian marketplace. Their typical business practices have now become fundamental business laws and principles of conducting business. In this context, the Parta system of accounting often referred to as the Marwari Accounting system throws light on an effective Cost Management system developed over a 100 years back which is based on establishing return on investment. The present research study decodes the concept of Marwari Accounting and its indefatigable importance on financial control.