International Accounting
 

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The Islamic accounting model: Distinctive features of origin and development

Vol. 22, Iss. 5, MAY 2019

Received: 17 January 2019

Received in revised form: 26 February 2019

Accepted: 3 April 2019

Available online: 16 May 2019

Subject Heading: INTERNATIONAL STANDARDS OF ACCOUNTING AND REPORTING

JEL Classification: F36, G10, L20, М40

Pages: 515–526

https://doi.org/10.24891/ia.22.5.515

Stafievskaya M.V. Mari State University, Yoshkar-Ola, Mari El Republic, Russian Federation
Stafievskaya16@mail.ru

ORCID id: not available

Subject This article explores the issues related to the process of development of accounting models under the influence of world religions.
Objectives The article aims to study the origin and essence of the Islamic accounting model as one of the world models, as well as consider the attitude of the two world religions towards entrepreneurship and its financial components.
Methods For the study, I used the systems and dialectical approaches.
Results The article describes features of the Islamic model of accounting as a specific approach to the development of accounting science, as well as the distinctive features of entrepreneurial activity among the peoples of Russia, professing the Islamic religion and Orthodoxy. It represents an original definition of Islamic accounting model and shows the results of criterion-based analysis of the influence of religious and ethical norms and standards of the two world religions on the formation of an entrepreneurship model of human behavior in business.
Conclusions and Relevance The generally accepted basic principles of religious and ethical standards, which form a model of human behavior in business regardless of religion, should be introduced and shaped in the accounting policy of any enterprise. Otherwise, religious and political risks may arise and threaten the economic security of the enterprise. The results of the study can be applied in the theory of accounting and international accounting standardization.

Keywords: accounting model, religion, Eastern Orthodoxy, Islamic accounting model

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