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Islamic Accounting
This timely new collection presents the most significant English language contributions to the literature on Islamic accounting. Including more than thirty articles by some of the most important authors in the area, the book covers six major themes: the conceptual framework, accounting ethics and social responsibility, corporate reporting, accounting practice and zakat, auditing and the Islamic history of accounting.
More Information
Critical Acclaim
Contributors
Contents
More Information
This timely new collection presents the most significant English language contributions to the literature on Islamic accounting. Including more than thirty articles by some of the most important authors in the area, the book covers six major themes: the conceptual framework, accounting ethics and social responsibility, corporate reporting, accounting practice and zakat, auditing and the Islamic history of accounting.
Following the rapid growth of the Islamic financial system this book will be recommended reading for academics, students, researchers and practitioners interested in developing their understanding of this increasingly important area, and an essential purchase for libraries.
Following the rapid growth of the Islamic financial system this book will be recommended reading for academics, students, researchers and practitioners interested in developing their understanding of this increasingly important area, and an essential purchase for libraries.
Critical Acclaim
‘This is the first ever compilation of leading articles in the field of Islamic accounting from the path defining contribution of Abdel-Majd in 1981 to the most important articles by Rifaat Ahmed Abdel Karim, founder of AAOIFI and former Secretary General of the IFSB. The collection is an essential purchase for all university libraries with Islamic finance collections as well as business schools where financial reporting is considered from different cultural perspectives. The editors are to be congratulated on their efforts.’
– Rodney Wilson, Durham University, UK
– Rodney Wilson, Durham University, UK
Contributors
33 articles, dating from 1981 to 2007
Contributors include: A. Abdul Rahman, M. Gaffikin, A. Goddard, M. Hudaib, R. Kamla, R. Karim, M. Lewis, B. Maurer, M. Sulaiman, R. Willett
Contributors include: A. Abdul Rahman, M. Gaffikin, A. Goddard, M. Hudaib, R. Kamla, R. Karim, M. Lewis, B. Maurer, M. Sulaiman, R. Willett
Contents
Contents:
Acknowledgements
Introduction An Islamic Perspective of Accounting: Introduction and Overview
Christopher Napier and Roszaini Haniffa
PART I CONCEPTUAL FRAMEWORK FOR ISLAMIC ACCOUNTING
1. Moustafa F. Abdel-Magid (1981), ‘The Theory of Islamic Banking: Accounting Implications’
2. Rifaat Ahmed Abdel Karim (1995), ‘The Nature and Rationale of a Conceptual Framework for Financial Reporting by Islamic Banks’
3. Roszaini Haniffa and Mohammad Abdullah Hudaib (2002), ‘A Theoretical Framework for the Development of the Islamic Perspective of Accounting’
PART II ACCOUNTING ETHICS AND SOCIAL RESPONSIBILITY
4. T.E. Gambling and R.A.A. Karim (1986), ‘Islam and Social Accounting’
5. Cyril Tomkins and Rif’at Ahmed ‘Abdul Karim (1987), ‘The Shari’ah and its Implications for Islamic Financial Analysis: An Opportunity to Study Interactions Among Society, Organization, and Accounting’
6. Saeed Askary and Frank L. Clarke (1997), ‘Accounting in the Koranic Verses’
7. Kazi Firoz Alam (1998), ‘Islam, Ethics and Accounting Practices’
8. Mervyn K. Lewis (2001), ‘Islam and Accounting’
9. Athar Murtuza (2002), ‘Islamic Antecedents for Financial Accountability’
10. Ros Haniffa, Mohammad Hudaib and Abdul Malik Mirza (2002), ‘Accounting Policy Choice within the Shari’ah Islami’iah Framework’
PART III CORPORATE REPORTING
11. Shaari Hamid, Russell Craig and Frank Clarke (1993), ‘Religion: A Confounding Cultural Element in the International Harmonization of Accounting?’
12. Rifaat Ahmed Abdel Karim (2001), ‘International Accounting Harmonization, Banking Regulation, and Islamic Banks’
13. Trevor Gambling, Rowan Jones and Rifaat Ahmed Abdel Karim (1993), ‘Credible Organizations: Self-Regulation v. External Standard-Setting in Islamic Banks and British Charities’
14. Nabil Baydoun and Roger Willett (2000), ‘Islamic Corporate Reports’
15. Roger Willett and Maliah Sulaiman (2001), ‘Islam, Economic Rationalism, and Accounting’
16. Maliah Sulaiman (2001), ‘Testing a Model of Islamic Corporate Financial Reports: Some Experimental Evidence’
17. Rania Kamla, Sonja Gallhofer and Jim Haslam (2006), ‘Islam, Nature and Accounting: Islamic Principles and the Notion of Accounting for the Environment’
18. Bassam Maali, Peter Casson and Christopher Napier (2006), ‘Social Reporting by Islamic Banks’
19. Roszaini Haniffa and Mohammad Hudaib (2007), ‘Exploring the Ethical Identity of Islamic Banks via Communication in Annual Reports’
PART IV ACCOUNTING PRACTICE AND ZAKAT
20. Mohammad Akhyar Adnan and Michael Gaffikin (1997), ‘The Shari’ah, Islamic Banks and Accounting Concepts and Practices’
21. Frank Clarke, Russell Craig and Shaari Hamid (1996), ‘Physical Asset Valuation and Zakat: Insights and Implications’
22. Kamal Naser, Victor Murinde and Abdulla Al-Utaibi (2001), ‘Accounting for Zakat: Evidence on Zakat Payment, Collection and Distribution in GCC Countries’
23. Bill Maurer (2002), ‘Anthropological and Accounting Knowledge in Islamic Banking and Finance: Rethinking Critical Accounts’
24. Ros Aniza Mohd. Shariff and Abdul Rahim Abdul Rahman (2004), ‘An Exploratory Study of Ijarah Accounting Practices in Malaysian Financial Institutions’
25. Abdul Rahim Abdul-Rahman and Andrew Goddard (1998), ‘An Interpretive Inquiry of Accounting Practices in Religious Organisations’
26. Jesmin Islam, Dennis Taylor and Atique Islam (2000), ‘The Information Adequacy of Management Accounting Systems Amongst Islamic and Non-Islamic Banks in Bangladesh’
PART V AUDITING
27. Muhammad Akram Khan (1985), ‘Role of the Auditor in an Islamic Economy’
28. Rifaat Ahmed Abdel Karim (1990), ‘The Independence of Religious and External Auditors: The Case of Islamic Banks’
29. Keith L. Hood and Raja A. Bucheery (1999), ‘The Interaction of Financial and Religious (Islamic) Auditors with Reference to the Audit Expectation Gap in Bahrain’
PART VI ISLAMIC HISTORY OF ACCOUNTING
30. Omar Abdullah Zaid (2000), ‘Were Islamic Records Precursors to Accounting Books Based on the Italian Method?’
31. Cigdem Solas and Ismail Otar (1994), ‘The Accounting System Practiced in the Near East During the Period 1220-1350 Based on the Book Risale-I Felekiyye’
32. Shaari Hamid, Russell Craig and Frank Clarke (1995), ‘Bookkeeping and Accounting Control Systems in a Tenth-Century Muslim Administrative Office’
33. Omar Abdullah Zaid (2000b), ‘The Appointment Qualifications of Muslim Accountants in the Middle Ages’
Acknowledgements
Introduction An Islamic Perspective of Accounting: Introduction and Overview
Christopher Napier and Roszaini Haniffa
PART I CONCEPTUAL FRAMEWORK FOR ISLAMIC ACCOUNTING
1. Moustafa F. Abdel-Magid (1981), ‘The Theory of Islamic Banking: Accounting Implications’
2. Rifaat Ahmed Abdel Karim (1995), ‘The Nature and Rationale of a Conceptual Framework for Financial Reporting by Islamic Banks’
3. Roszaini Haniffa and Mohammad Abdullah Hudaib (2002), ‘A Theoretical Framework for the Development of the Islamic Perspective of Accounting’
PART II ACCOUNTING ETHICS AND SOCIAL RESPONSIBILITY
4. T.E. Gambling and R.A.A. Karim (1986), ‘Islam and Social Accounting’
5. Cyril Tomkins and Rif’at Ahmed ‘Abdul Karim (1987), ‘The Shari’ah and its Implications for Islamic Financial Analysis: An Opportunity to Study Interactions Among Society, Organization, and Accounting’
6. Saeed Askary and Frank L. Clarke (1997), ‘Accounting in the Koranic Verses’
7. Kazi Firoz Alam (1998), ‘Islam, Ethics and Accounting Practices’
8. Mervyn K. Lewis (2001), ‘Islam and Accounting’
9. Athar Murtuza (2002), ‘Islamic Antecedents for Financial Accountability’
10. Ros Haniffa, Mohammad Hudaib and Abdul Malik Mirza (2002), ‘Accounting Policy Choice within the Shari’ah Islami’iah Framework’
PART III CORPORATE REPORTING
11. Shaari Hamid, Russell Craig and Frank Clarke (1993), ‘Religion: A Confounding Cultural Element in the International Harmonization of Accounting?’
12. Rifaat Ahmed Abdel Karim (2001), ‘International Accounting Harmonization, Banking Regulation, and Islamic Banks’
13. Trevor Gambling, Rowan Jones and Rifaat Ahmed Abdel Karim (1993), ‘Credible Organizations: Self-Regulation v. External Standard-Setting in Islamic Banks and British Charities’
14. Nabil Baydoun and Roger Willett (2000), ‘Islamic Corporate Reports’
15. Roger Willett and Maliah Sulaiman (2001), ‘Islam, Economic Rationalism, and Accounting’
16. Maliah Sulaiman (2001), ‘Testing a Model of Islamic Corporate Financial Reports: Some Experimental Evidence’
17. Rania Kamla, Sonja Gallhofer and Jim Haslam (2006), ‘Islam, Nature and Accounting: Islamic Principles and the Notion of Accounting for the Environment’
18. Bassam Maali, Peter Casson and Christopher Napier (2006), ‘Social Reporting by Islamic Banks’
19. Roszaini Haniffa and Mohammad Hudaib (2007), ‘Exploring the Ethical Identity of Islamic Banks via Communication in Annual Reports’
PART IV ACCOUNTING PRACTICE AND ZAKAT
20. Mohammad Akhyar Adnan and Michael Gaffikin (1997), ‘The Shari’ah, Islamic Banks and Accounting Concepts and Practices’
21. Frank Clarke, Russell Craig and Shaari Hamid (1996), ‘Physical Asset Valuation and Zakat: Insights and Implications’
22. Kamal Naser, Victor Murinde and Abdulla Al-Utaibi (2001), ‘Accounting for Zakat: Evidence on Zakat Payment, Collection and Distribution in GCC Countries’
23. Bill Maurer (2002), ‘Anthropological and Accounting Knowledge in Islamic Banking and Finance: Rethinking Critical Accounts’
24. Ros Aniza Mohd. Shariff and Abdul Rahim Abdul Rahman (2004), ‘An Exploratory Study of Ijarah Accounting Practices in Malaysian Financial Institutions’
25. Abdul Rahim Abdul-Rahman and Andrew Goddard (1998), ‘An Interpretive Inquiry of Accounting Practices in Religious Organisations’
26. Jesmin Islam, Dennis Taylor and Atique Islam (2000), ‘The Information Adequacy of Management Accounting Systems Amongst Islamic and Non-Islamic Banks in Bangladesh’
PART V AUDITING
27. Muhammad Akram Khan (1985), ‘Role of the Auditor in an Islamic Economy’
28. Rifaat Ahmed Abdel Karim (1990), ‘The Independence of Religious and External Auditors: The Case of Islamic Banks’
29. Keith L. Hood and Raja A. Bucheery (1999), ‘The Interaction of Financial and Religious (Islamic) Auditors with Reference to the Audit Expectation Gap in Bahrain’
PART VI ISLAMIC HISTORY OF ACCOUNTING
30. Omar Abdullah Zaid (2000), ‘Were Islamic Records Precursors to Accounting Books Based on the Italian Method?’
31. Cigdem Solas and Ismail Otar (1994), ‘The Accounting System Practiced in the Near East During the Period 1220-1350 Based on the Book Risale-I Felekiyye’
32. Shaari Hamid, Russell Craig and Frank Clarke (1995), ‘Bookkeeping and Accounting Control Systems in a Tenth-Century Muslim Administrative Office’
33. Omar Abdullah Zaid (2000b), ‘The Appointment Qualifications of Muslim Accountants in the Middle Ages’
