Islamic accounting

Islamic accounting is the process of identification, measurement and reporting the legitimacy of financial activities which is useful for decision making, zakat calculation and calculation of true benefit of Islamic investment operations, according to the Islam commands. As a lifestyle, Islam has paid great attention to business activities. Thus, God has provided the instructions for human salvation in this world and the hereafter. In economic activities, redemption should be the final goal and accounting as an instrument for providing the information in economic environment, should serve this purpose. There are different goals for Islamic accounting such as Usefulness for decision-making, accountability, Islamic responsiveness and accountability through Zakat. In this regard, accounting features are focused on measurement and disclosure. In the field of measurement, dominant opinion is that, for the purposes especially determining Zakat, we should use the current values. In disclosure aspect, the emphasis is on following the Sharia and providing the required information, especially in the field of social responsibilities.

Islamic accounting, Zakat, Islamic accountability