This study investigates the strategic role of accounting education in promoting sustainable development through lifelong learning, with a focus on Small and Medium-sized Enterprises (SMEs) in Oman. It highlights how accounting knowledge influences financial literacy, decision-making, and long-term business sustainability. The research explores the adoption of accounting practices among SMEs registered under Madayn, assessing the impact of accounting expertise on their success and resilience in a competitive market. Using a mixed-method approach, the study combines qualitative and quantitative data from 83 SME units, employing a structured questionnaire to identify key factors influencing accounting practices. The research develops a conceptual framework with ten variables and 28 measurement statements, which serve as a basis for understanding the relationship between accounting education and SME performance. Findings reveal that accounting plays a pivotal role in SME success, with significant correlations between accounting skills, educational levels, and business outcomes This paper finds that factors such as employee engagement, the collaboration with accountants and the positive attitude of managers towards accounting integration are critical for sustainability. The study also highlights the benefits of accounting education and the need to invest in accounting training to increase financial literacy and better decision making. It offers practical recommendations for SME owners and managers to encourage financial literacy, record keeping, and the integration of accounting systems into business planning for long-term sustainability. Furthermore, the research is in line with Oman’s national agenda for economic diversification, job creation, and financial stability, and also highlights the wider social benefits of accounting education in contributing to the achievement of sustainable development goals. This work also proposes a new framework for sustainable business practices in SMEs to fill a gap in the literature.