The influence of riba and zakat on Islamic Accounting – Maliah bt. Sulaiman

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Abstract :

Muslim countries are now attempting to align their economies to accord with the tenets of

Islam. Consequently, this phenomenon would, in turn, impact on the manner accounting

is practised.

Two issues that figure prominently in the development of Islamic

accounting are riba (interest) and zakat. The influence of riba on Islamic accounting lies

in the capital structure of a company and its influence on the disclosure practices of an

enterprise.

The influence of zakat is on the measurement (valuation) aspect of

accounting. The paper concludes with the need for Muslim accountants to adhere to the

dictates of the Shari’a in discharging accountability.

The importance of riba and zakat on Islamic accounting

source: http://acfip.com/ribazakat.pdf