The Origins of Accounting in the Islamic Economics and Finance System

Samir Alamad
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Samir Alamad: Al Rayan Bank

Chapter Chapter 4 in Financial and Accounting Principles in Islamic Finance, 2019, pp 75-93 from Springer

Abstract: Abstract It is necessary to understand the historical development of Islamic accounting here in this chapter (Chap. 4). Herein, I discuss the concept of an accounting system and its objectives as outlined in the Islamic economics and finance system in the Islamic empire from its inception over 14 centuries ago. Moreover, I examine the historical development that the accounting systems underwent within the framework of the Islamic economics and finance. It explains the most important types of accountancy, accounting terminologies, accounting practices, accounting roles, audit and internal controls that were known in the Islamic economics and finance system at that time. I analytically examine the components of the Islamic accounting system in terms of its principles, basis and foundational structure.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-16299-3_4

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DOI: 10.1007/978-3-030-16299-3_4

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