The Model of Financial Accounting Management by Buddhist Peaceful Means of Thai Temple in United States

Abstract

This research consisted of three objectives are 1) to study the context, problems, and necessities of financial accounting management of Wat Chaimongkolvararam, Ogden, Utah, and concepts/theories according to modern science; 2) to explore the Buddhist peaceful means promoting the financial accounting management; and 3) to develop and present a model for the financial accounting management by Buddhist peaceful means.  This study was an action research with a 9-step procedure. The data was processed by content analysis.  To collect data, an in-depth interview was conducted with 11 Buddhist monks and 5 financial accounting specialists. A focus group discussion was also held to collect data with 3 monks and professor as well as accountant and financial 5 persons.  

From the study, the following results are found: (1) The temple lacks an accounting system and no accounting preparation, as well as a lack of skills of accountants due to the high cost; (2) There are governance, strength model, POSDCoRB model, accounting process, and US Regulation and Law. In addition, there has been an application of the Buddhist teachings, that is, Sucarita 3 types of good conduct in act, in speech and in thought; and (3) A model of financial accounting management is the PARENT model, which consists of: (1) “P” stands for Participation, in which Monks and lay people participate in accounting record,  obtaining accounting information and suggesting; (2) A” stands for Accountability, in which there should be an appointment of committee/ responsible party in each section of the financial accounting process; (3) “R” stands for Regulations and Laws; in which the accounting should adhere to US regulation; (4) “E” stands for Efficiency, in which a time frame and a good accounting guideline should be established; (5) “N” stands for Knowledge, as accounting training to the monks and lay people; and (6) “T” stands for Transparency, there should be information disclosure based on reality that can also be examined. This model has the benefits are that the monks and lay people participate and learning the accounting skill and preparing the proper accounting, disclosure and accomplished in accordance with the goals. The pattern can be prototype as the permanent. All of this, the society is stability, sustainability, and peace.