International Journal of Religion

2024
Volume: 5| Number 11 | pp. 2668 – 2675
ISSN: 2633-352X (Print) | ISSN: 2633-3538 (Online)
ijor.co.uk
DOI: https://doi.org/10.61707/9rhytv88

Impact of Accounting Management on the Financial Sustainability of the

Tourism Sector
Noemi Cayo-Velásquez1, Gladys Auquitias-Condori2, Marco Mauricio Chávez Haro3 and Renier
Esquivel Garcia4
Abstract
This bibliometric review analyzes the scientific production related to the variables Accounting Management and Tourism Sector registered in the
Scopus database during the period 2018-2023. The main objective of the study was to identify and characterize the volume of publications,
achieving a total of 39 documents. The information collected was organized by graphs, categorizing it by Year of Publication, Country of Origin,
Area of Knowledge and Type of Publication. The results reveal that Spain is the country with the highest number of publications, reaching a
total of 5 scientific papers. The Social Sciences area stood out as the most prolific in terms of bibliographic contribution, with 17 documents, the
same as those in the Administration, Business and Accounting area. Likewise, Journal Articles accounted for 64% of total publications. This
analysis also includes a qualitative study on the positions of various authors in relation to the topics addressed, providing a comprehensive view
of the current state of research in this field. Among the main conclusions, it is possible to define that an effective integration of accounting practices
which include sustainable impacts in the tourism sector is essential to ensure the conservation of ecosystems and economic development in the
medium and long term.

Keywords: Accounting Management, Financial Sustainability, Tourism Sector.

INTRODUCTION
Accounting and environmental management are the backbone of companies. Although the central
administration of a company must be aware that the operations they carry out to offer the demanded goods
can cause a negative impact on the environment, whether temporary and/or permanent, and consequently must
invest to mitigate them. Therefore, sustainable accounting must quantify and record the expenditures that are
made with the purpose of restoring the damage that has been caused, to preserve the environment and
organizations.
The economic and social activity of the tourism sector generates an impact on natural resources and ecosystems,
since this sector is highly dependent on natural environments; therefore, this generates a close relationship with
the environment. Therefore, since tourism is an important source of development and economic income for
countries, it must be managed efficiently, profitably and sustainably.
Their accounting management, on the one hand, must seek to integrate accounting systems that not only reflect
the financial aspects of companies, but also address the environmental dimensions; the study of recycling and
reuse of waste, the recovery of materials, the processing of raw materials, among others. They have become an
important source of information for decision-making in organizations.
On a general level, authors such as São Paulo emphasize the need to integrate responsible tourism policies
which promote sustainable practices. On the other hand, they highlight the importance of accounting systems
that comprehensively address environmental impacts, allowing informed decisions to be made for the
sustainable management of tourism. However, it emphasizes the importance of environmental accounting and

1 Universidad Nacional del Altiplano, Puno - Puno, Perú; ORCID: https://orcid.org/0000-0002-9690-3006, E-mail: [email protected]
2 Universidad Nacional del Juliaca - Perú; ORCID: https://orcid.org/0000-0003-0989-666X, Email: [email protected]
3 Escuela Superior Politécnica de Chimborazo - ESPOCH; ORCID: https://orcid.org/0000-0003-1335-6885, E-mail: [email protected]
4 Universidad Técnica de Manabí, Ecuador; ORCID: https://orcid.org/0000-0002-6170-9625, E-mail: [email protected]
 Cayo-Velásquez, Auquitias-Condori, Haro and Garcia

life cycle assessment in terms of quantifying and managing the environmental effects of tourism. (Hernández,
2019)(Burritt, 2017)(Gössling, 2012)
The contribution of environmental accounting allows tourism companies to report and evaluate their
performance in terms of environmental impacts, in addition to the recording of costs associated with
unsustainable practices and the presentation of financial reports that reflect the commitment to sustainability
in the tourism industry. For this reason, this article seeks to describe the main characteristics of the compendium
of publications indexed in the Scopus database related to the variables Accounting Management and Tourism
Sector, as well. Such as the description of the position of certain authors affiliated with institutions, during the
period from 2018-2023.
METHODOLOGY
This bibliometric review was carried out with the aim of analyzing the scientific production related to the
variables Accounting Management and Tourism Sector, using the Scopus database during the period 2018-
2023. The steps followed for this review are detailed below:
Definition of the Objective and Scope
The main objective was to identify and characterize scientific publications in the study area. The period of
analysis spanned from January 2018 to December 2023, and all relevant publications in English and Spanish
were included.
Literature Search
An exhaustive search was carried out in the Scopus database using the following keywords: "Accounting
Management", "Tourism Sector". Boolean operators were used to refine the results (AND):
TITLE-ABS-KEY ( accounting AND management, AND tourism AND sector ) AND PUBYEAR > 2017
AND PUBYEAR < 2024
The initial search yielded a total of 29 articles.
Selection of Studies
The following inclusion criteria were applied:
Relevance Of The Topic
The studies chosen for analysis are in accordance with the objective set out in this document, ensuring that the
results obtained are concise, clear, objective and coherent with the purpose proposed.
Publication Date
Studies published within the period between 2018-2023 are included.
Type Of Study
The documents reported in Scopus are analyzed, without distinction of their type. Journal Articles, Conference
Articles, Books, Book Chapters, Reviews, among others.
Language
The search is carried out in Scopus with the variables in English, ensuring that the results are reported in that
language, and thus ensuring the universality of the documents consulted.
Post Source
Studies published in peer-reviewed scientific journals are preferred, guaranteeing a minimum standard of quality
and academic rigor.

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Impact of Accounting Management on the Financial Sustainability of the Tourism Sector
Data Analysis
Various bibliometric analyses were carried out, including:
Analysis Of Co-Occurrence Networks: to visualize the relationships between studies cited together. The
data was analyzed and visualized using VOSviewer software, allowing the creation of network maps and
distribution graphs.
Publication Count: To determine the number of studies published per year.
Publications By Country Of Origin: In order to know the distribution of scientific production according
to its country of origin.
Influence Of The Areas Of Knowledge: to identify the interference of the different areas of knowledge
in the execution of research work related to the variables studied.
Publication Type: To determine the number of publications corresponding to each type of format accepted
in Scopus.
Data Visualization:
Graphs were prepared to represent the distribution of publications by year, country, area of knowledge and
type of publication.
In addition, heat maps were generated to visualize the density of publications by country and network diagrams
to show the co-occurrence of keywords.
Interpretation And Discussion Of Results:
The patterns and trends observed in the bibliometric data were interpreted, comparing them with previous
studies and discussing their implications for the field of research.
Emerging areas of research and gaps in the current literature were identified.
RESULT
Word Co-Occurrence
In the following figure, it is possible to identify a cattle diagram to show the co-occurrence between the
keywords identified in the data search for the proposed bibliometric analysis.

Figure 1. Word co-occurrence

Source: Own elaboration (2024); based on data exported from Scopus.

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 Cayo-Velásquez, Auquitias-Condori, Haro and Garcia

This term co-occurrence map provides a clear view of how different topics and terms are interrelated in the
scientific literature on the role of management and financial sustainability in the tourism sector. Clusters of
terms in red, green, and blue show different subject areas, while central nodes such as Tourism stand out as key
topics of discussion. Sustainable Development was the most influential keyword within the execution of
research projects published in journals indexed in Scopus. Its frequency shows a high usability within the
research identified for analysis within this document and presents a significant proximity to keywords such as
Tourist Destination, Sustainable Tourism, Environmental Management. It is important to highlight that these
keywords constitute an important number of works, which allows inferring about the role played by accounting
management in tourism companies, since this accounting area allows companies in this industry to understand
their environmental impact through the inclusion of financial statements.
Post Count
Figure 2 shows how scientific production is distributed according to the year of publication.

10
9 9
8 8 8
7 7
6
5
4 4
3 3
2
1
0
2018 2019 2020 2021 2022 2023

Figure 2. Annual distribution of scientific production

Source: Own elaboration (2024); based on data exported from Scopus
As evidenced in the figure above, the growth of scientific production around the variables Accounting
Management and Tourism Sector, has had a great growth in terms of the volume of annual registrations, in
2018 the global was 7 publications while in 2023 there were 8. Among the most outstanding articles of this last
year, is the one entitled "Assessing the Impact of the Adoption of Contemporary National and International
Accounting Standards: Evidence from Greek Hotels" This article aims to offer new insights into how the
adoption of contemporary international accounting standards can affect a hotel's financial performance. It
provides important information for strategic decision-making in property management, especially in countries
where hotel properties can choose between different accounting standards. Data from 3-, 4- and 5-star hotels
in Greece were collected through primary research with questionnaires, completed by hotel financial managers.
Greece was selected because hotels can choose between national and international accounting standards;
Therefore, research could focus on real factors beyond mandatory adoption. (Koufodontis, 2021)
Publications By Country Of Origin
Figure 4 shows how scientific production is distributed geographically.

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Impact of Accounting Management on the Financial Sustainability of the Tourism Sector

Figure 3. Geographical distribution of scientific production.

Source: Authors' elaboration (2024); based on data provided by Scopus.

Within the distribution of scientific production by country of origin, records from institutions were taken into
account, establishing Spain as the country in that community, with the highest number of publications indexed
in Scopus during the period 2018-2023, with a total of 5 publications in total. In second place, China with 4
scientific papers, and Italy in third place presenting to the scientific community, with a total of 3 papers among
which is the article entitled "Energy Conservation in Large Hotels: Perspectives from a Developing Country"
Tourism can drive positive and transformative changes in modern societies, but it also becomes a source of
important environmental externalities. This is often the case in developing economies where the problem is
exacerbated by immature national sustainability agendas. Specific research that takes into account the local
context is needed to enable the transition of developing countries towards more sustainable tourism
development patterns. This study focuses on Iran's hotel sector, one of the most energy-inefficient hotel sectors
in the world, to explore its path to environmental sustainability. The dominance of national ownership and
control and the prevalence of international economic sanctions are the hallmarks of Iran's hotel industry. The
study points to reconfigurations in technology, knowledge, legislation and behavioural norms as the
determinants of the sector's pursuit of environmental sustainability. Domestic hotel companies should advocate
for pro-environmental transformative changes in the Iranian hotel sector until international economic sanctions
are lifted.(Salehi, 2021)
Distribution Of Scientific Production By Area Of Knowledge
Figure 4 shows the distribution of scientific production, according to the prevalence of theories in different
areas of knowledge.

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 Cayo-Velásquez, Auquitias-Condori, Haro and Garcia

Social Sciences 17
Business, Management and Accounting 17
Economics, Econometrics and Finance 12
Environmental Science 10
Energy 6
Engineering 5
Computer Science 4
Earth and Planetary Sciences 3
Medicine 2
Decision Sciences 2
Agricultural and Biological Sciences 2
Multidisciplinary 1
Materials Science 1
Arts and Humanities 1

0 2 4 6 8 10 12 14 16 18

Figure 4. Distribution of scientific production by area of knowledge.

Source: Authors' elaboration (2024); based on data provided by Scopus.
Social Sciences was the area of knowledge with the highest number of publications registered in Scopus with a
total of 17 documents that have based its methodology Accounting Management and Tourism Sector. In
second place, Business, Commerce and Accounting with 17 articles and Economics, Econometrics and Finance
in third place with 12. The above can be explained thanks to the contribution and study of different branches,
the article with the greatest impact was registered by Social Sciences entitled "The effect of tourism spending
on the economy: a new evidence" The objective of this study is to evaluate the impact of development on the
economy of Malaysia through the impact of tourism spending using the Social Accounting Matrix (SAM). The
discussion of the study focused on the value of multipliers, factors of production and household income derived
from tourism activities in urban and rural areas. The results had shown that tourist spending in the arts,
entertainment and recreation subsectors produced the greatest multiplier effect on production. Meanwhile,
other subsectors such as shopping, food and beverages, accommodation and transport did not show significant
differences. In addition, there is a large gap in income distribution in urban and rural areas, although the
distribution of income to factors of production and households has a positive effect. This inequality needs to
be addressed to ensure that tourism development can benefit the wider economy. Among the steps that can be
taken is Community-Based Tourism (CBT), which involves collaboration between local communities and
stakeholders to support authenticity, environmental sustainability, and strengthen management and
oversight.(Mohd Nor, 2021)
Type Of Publication
In the following graph, you will see the distribution of the bibliographic find according to the type of publication
made by each of the authors found in Scopus.

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Impact of Accounting Management on the Financial Sustainability of the Tourism Sector

3%
2%3%
5%

10%

13%
64%

Article Book Chapter Conference Review Conference Paper

Book Erratum Review

Figure 5. Type of publication.

Fountain: Own elaboration (2024); based on data provided by Scopus.
The graph reflects a diversity of types of scientific publications, with a clear predominance of articles and
conference papers. Reviews and book chapters also have a significant presence. The other types of publications,
although less frequent, complete the panorama of how academic and scientific work is distributed. Journal
Articles represent 64% of the total publications, it was the most common and dominant type of publication in
this distribution. In second place, Book Chapters represent 13% of the total publications. Conference Articles,
in third place, constitute 10% of the total publications, which allows us to infer a significant number of
publications dedicated to reviewing and summarizing the existing literature in a particular field. In the latter
category, the one entitled "Profit Management in Hotel Companies: Evidence from Portugal" stands out. This
study examines whether companies in the Portuguese hotel sector adopt performance management (EM)
practices to provide specific accounting results and check the main determinants that explain EM. We used the
SABI database to collect panel data on 1,615 Portuguese SME hotels between 2006 and 2013. To obtain the
results, a graphical representation of the distribution of net income and the estimation of discretionary
provisions were used, from which two estimation models were formulated. The adoption of profit management
practices by companies is a widespread phenomenon in various sectors and countries. However, despite the
general awareness of the importance of the tourism sector for communities at a financial, social and cultural
level, the lack of empirical studies with application to the accommodation sector makes it pertinent to
investigate this phenomenon(Costa, 2021)
CONCLUSION
Thanks to the bibliometric analysis carried out in this document, it is possible to conclude that, in terms of the
geographical distribution of scientific production around the variables Accounting Management and Tourism
Sector, Spain was the country with the highest number of publications registered in Scopus during the period
between 2018 and 2023 with a total of 5 documents, followed by the United States with a total of 5 publications.
Regarding the areas of knowledge with the greatest influence on the writing and publication of research papers
related to the topic proposed for this article, Social Sciences, Business, Commerce and Accounting and
Economics, Econometrics and Finance stand out. The business awareness that is reflected in environmental
responsibility initiatives and their environmental impact control, in financial accounting and management
accounting, is a necessary element in the analysis and valuation of companies. It is worth mentioning that
accounting is necessary to measure and value in monetary units the effort of companies, emphasis on the
tourism sector, and its path towards sustainable development.

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 Cayo-Velásquez, Auquitias-Condori, Haro and Garcia

An effective integration of accounting practices which include sustainable impacts on the tourism sector is
essential to ensure the conservation of ecosystems and economic development in the medium and long term.
Financial accounting and environmental management accounting play a fundamental role, since this discipline
is responsible for formulating data on the efficiency and profitability of companies in the tourism sector since
the dimensions of sustainability must be ensured
In addition, accounting management offers tourism businesses the ability to effectively measure and control
costs and resources, including those related to the environment, when integrating environmental management
accounting practices. Companies in the tourism industry can evaluate and minimize their effects on the
environment, promoting sustainable and responsible practices that allow the preservation of the environment,
economic growth and general well-being.
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