Abstract: An efficient accounting system is vital for businesses, providing a competitive advantage and enhancing decision-making quality. This research aims to develop guidelines for implementing efficient accounting systems within industrial business organizations and to construct a corresponding structural equation model. The qualitative phase involved in-depth interviews with nine experts and group discussions with eleven specialists, selected through purposive sampling. Data were analyzed using thematic coding to extract patterns and key themes aligned with the research objectives. For the quantitative phase, a survey was conducted among 500 industrial business executives, and data were analyzed using descriptive statistics, inferential statistics, and multivariate analysis. Findings highlight four key components for efficient accounting system implementation, prioritized as follows: (1) Digital Technology, (2) Internal Control, (3) Internal Audit, and (4) Environmental Study. Moreover, hypothesis testing revealed statistically significant differences (p < 0.05) between SMEs and large enterprises regarding their emphasis on effective management factors. The developed structural equation model demonstrated a good fit with empirical data, evidenced by a chi-square probability of 0.057, a relative chi-square of 1.161, a goodness of fit index (GFI) of 0.959, and a root mean square error of approximation (RMSEA) of 0.018.

Keywords: Structural Equation Modeling, Accounting System, Environmental Study, Internal Control, External Audit, Digital Technology, SMEs, and Industrial Business Organizations

Pages: 1275-1289