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The Peculiarities Of The Islamic Accounting System In The Current Economic Context

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  • Florentina Moisescu

    (University “Dunarea de Jos” din Galati, Romania,)

  • Dragomir Georgiana

    (University “Dunarea de Jos” din Galati, Romania,)

Abstract

This paper treats the particularities of the islamic accounting system in the context of a much more different culture compared to the culture from any other country. Islamic accounting represents the process of identification, measurement and reporting of financial activities which is necessary for decision making, calculation of zakat and calculation of real benefits of islamic investments operations as per compliance with islamic laws. As a lifestyle, islamic religion has given a special attention to business activities. Thus, in economic activities, divine forgiveness must be the ultimate goal and accounting as an instrument which offers information in economic environment, must serve this purpose. Currently, islamic accounting becomes more and more important, since it is a field which gains a lot of attention in the whole world as a result of the spread of Islam in the new territories. The objective of this study is to evidence the particular characteristics of the islamic accounting system, along with its history and evolution. More than that it presents the need of islamic accounting system in islamic society and its benefits.

Suggested Citation

  • Florentina Moisescu & Dragomir Georgiana, 2022. "The Peculiarities Of The Islamic Accounting System In The Current Economic Context," Management Strategies Journal, Constantin Brancoveanu University, vol. 55(1), pages 117-126.
    • Handle: RePEc:brc:journl:v:55:y:2022:i:1:p:117-126
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    References listed on IDEAS

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    1. Mohamed Ariff & Munawar Iqbal, 2011. "Introduction to Islamic Financial Institutions," Chapters, in: Mohamed Ariff & Munawar Iqbal (ed.), The Foundations of Islamic Banking, chapter 1, Edward Elgar Publishing.
    2. Naser, Kamal & Nuseibeh, Rana, 2003. "Quality of financial reporting: evidence from the listed Saudi nonfinancial companies," The International Journal of Accounting, Elsevier, vol. 38(1), pages 41-69.
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