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Influence of confessional institutions on accounting reporting

Vol. 22, Iss. 9, SEPTEMBER 2019

Received: 10 June 2019

Received in revised form: 18 July 2019

Accepted: 23 July 2019

Available online: 16 September 2019

Subject Heading: INTERNATIONAL STANDARDS OF ACCOUNTING AND REPORTING

JEL Classification: M41

Pages: 983–992

https://doi.org/10.24891/ia.22.9.983

Umarov Kh.S. IPT OOO (PAYMO), Moscow, Russian Federation
khusan0000@gmail.com

ORCID id: not available

Subject This article deals with the accounting (financial) reports of Islamic financial institutions.
Objectives The article aims to describe the particularities of the accounting (financial) reports of Islamic financial institutions.
Methods For the study, I used the methods of comparative analysis, systematization, classification, analogy, and comparison.
Results The article describes a model developed by accounting professionals and Sharia experts that helps users obtain relevant information to make economic decisions.
Conclusions and Relevance The article concludes that the complete accounting set of Islamic financial institutions and their financial instruments differ from the traditional ones to some extent. Islamic financial institutions, like other financial institutions, provide generally accepted reports, but additionally, they publish other reports. The results of the article can be applied in the accounting theory development.

Keywords: AAOIFI, Islamic accounting, reporting, principles, religion

References:

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