The Shari'ah and its Implications for Islamic Financial Analysis

I. Relevance of the Issue By far the majority of articles in the world's leading accounting journals take as given the culture and religions of the Western world. Articles appear from time to time that make distinctions among accounting practices in different Western or ex-Commonwealth countri...

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Autores principales:	Cyril Tomkins, Rif'at Ahmed 'Abdul Karim
Formato:	article
Lenguaje:	EN
Publicado:	International Institute of Islamic Thought 1987
Materias:	Islam BP1-253
Acceso en línea:	https://doaj.org/article/16b1f3541c48452d9f4c7810c14e0785
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spelling	oai:doaj.org-article:16b1f3541c48452d9f4c7810c14e07852021-12-02T19:40:17ZThe Shari'ah and its Implications for Islamic Financial Analysis10.35632/ajis.v4i1.27402690-37332690-3741https://doaj.org/article/16b1f3541c48452d9f4c7810c14e07851987-09-01T00:00:00Zhttps://www.ajis.org/index.php/ajiss/article/view/2740https://doaj.org/toc/2690-3733https://doaj.org/toc/2690-3741 I. Relevance of the Issue By far the majority of articles in the world's leading accounting journals take as given the culture and religions of the Western world. Articles appear from time to time that make distinctions among accounting practices in different Western or ex-Commonwealth countries, but in so doing there is usually no need to re-examine whether the basic building blocks of accounting and finance are consistent with the cultures of those countries; that is taken as self-evident. A few authors have pressed further to show that it is inappropriate to impose unmodified Western accounting practices on developing countries, while many others have illustrated the difficulties in harmonizing international accounting standards when they have to be applied to countries with different environmental business and social foundations. This line of development is followed in these pages to examine the situation in countries adhering to strict Islamic principles where the cultural background to business, and in particular the influence of religious law, are quite different from that in Western countries. It will be shown that differences between the Islamic and Christian religions imply different societal rules of business behaviour, which further imply differences in operating financial organisations, as well as in accounting for them and conducting financial analysis. In fact, the impact of religious principles are so different in these ... Cyril TomkinsRif'at Ahmed 'Abdul KarimInternational Institute of Islamic ThoughtarticleIslamBP1-253ENAmerican Journal of Islam and Society, Vol 4, Iss 1 (1987)
institution	DOAJ
collection	DOAJ
language	EN
topic	Islam BP1-253
spellingShingle	Islam BP1-253 Cyril Tomkins Rif'at Ahmed 'Abdul Karim The Shari'ah and its Implications for Islamic Financial Analysis
description	I. Relevance of the Issue By far the majority of articles in the world's leading accounting journals take as given the culture and religions of the Western world. Articles appear from time to time that make distinctions among accounting practices in different Western or ex-Commonwealth countries, but in so doing there is usually no need to re-examine whether the basic building blocks of accounting and finance are consistent with the cultures of those countries; that is taken as self-evident. A few authors have pressed further to show that it is inappropriate to impose unmodified Western accounting practices on developing countries, while many others have illustrated the difficulties in harmonizing international accounting standards when they have to be applied to countries with different environmental business and social foundations. This line of development is followed in these pages to examine the situation in countries adhering to strict Islamic principles where the cultural background to business, and in particular the influence of religious law, are quite different from that in Western countries. It will be shown that differences between the Islamic and Christian religions imply different societal rules of business behaviour, which further imply differences in operating financial organisations, as well as in accounting for them and conducting financial analysis. In fact, the impact of religious principles are so different in these ...
format	article
author	Cyril Tomkins Rif'at Ahmed 'Abdul Karim
author_facet	Cyril Tomkins Rif'at Ahmed 'Abdul Karim
author_sort	Cyril Tomkins
title	The Shari'ah and its Implications for Islamic Financial Analysis
title_short	The Shari'ah and its Implications for Islamic Financial Analysis
title_full	The Shari'ah and its Implications for Islamic Financial Analysis
title_fullStr	The Shari'ah and its Implications for Islamic Financial Analysis
title_full_unstemmed	The Shari'ah and its Implications for Islamic Financial Analysis
title_sort	shari'ah and its implications for islamic financial analysis
publisher	International Institute of Islamic Thought
publishDate	1987
url	https://doaj.org/article/16b1f3541c48452d9f4c7810c14e0785
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The Shari'ah and its Implications for Islamic Financial Analysis

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