Subject. This article deals with the issues related to the disclosure of information in the financial statements by organizations providing partnership financing services. Objectives. The article aims to study the features of the Islamic model of accounting, its regulatory framework and the requirements for disclosure of information in financial statements in accordance with AAOIFI standards. Methods. The scientific works by contemporary foreign and domestic scientists engaged in the study of the Islamic model of accounting and the problems of disclosure of information in financial statements by Islamic financial institutions served as a methodological basis for the study. Results. The article finds that religion and ethical standards embedded in Islamic economics have a significant impact on accounting and the formation of Sharia-compliant financial statements. The article also describes the emergence and development of the Islamic accounting model and the distinctive features of information disclosure in accordance with RAS, IFRS and AAOIFI standards. The article provides examples of information disclosure in financial statements by Islamic financial institutions operating abroad and in Russia. Conclusions. The information disclosed in the financial statements of Islamic financial institutions in accordance with AAOIFI standards is much broader than under RAS and IFRS. The specifics of reflecting transactions on partnership financing are currently traced in the financial statements of companies operating in foreign countries, where partnership finance has been developing for many years. Financial institutions operating in the field of partnership finance in Russia prepare accounting (financial) statements in accordance with RAS, and when preparing internal management reporting, they are guided by IFRS and AAOIFI standards.
Klebleeva R.Sh. [Islamic model of bookkeeper accounting: preconditions of its emergence and the history of its development (Russia, Kazan')]. Problemy sovremennoi ekonomiki = Problems of Modern Economics, 2014, no. 1(49), pp. 272–278. URL: Link (In Russ.)
Voronova E.Yu. [Islamic accounting: social, ethical and religious aspects of development]. Uchet. Analiz. Audit = Accounting. Analysis. Auditing, 2017, no. 4, pp. 93–98. URL: Link (In Russ.)
Archakova-Uzhakhova M.B. [Islamic accounting model: aspects of development in XX–XXI centuries]. Ekonomika, predprinimatel'stvo i pravo, 2018, vol. 8, no. 4, pp. 245–256. (In Russ.) URL: Link
Kharisova F.I., Kurbanova G.K. [Special aspects of conceptual framework for financial reporting by Islamic financial institutions]. Audit i finansovyi analiz = Audit and Financial Analysis, 2017, no. 2, pp. 247–251. (In Russ.)
Kharisova F.I., Yusupova A.R., Kharisov I.K. [The basics of accounting standards for Islamic financial institutions]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2018, vol. 21, iss. 2, pp. 138–148. (In Russ.) URL: Link
Umarov H.S. [Regulation of the Islamic accounting model in the context of Russian reality]. Auditor, 2021, vol. 7, no. 6, pp. 42–52. URL: Link (In Russ.)
Stefanenko V.Yu. [Specifics of accounting for Islamic bank operations and its impact on regulation]. Finansy i biznes, 2021, vol. 17, no. 2, pp. 36–56. (In Russ.) URL: Link
Kamla R. Critical insights into contemporary Islamic accounting. Critical Perspectives on Accounting, 2009, no. 20, pp. 921–932. URL: Link
Gambling T., Karim R.A.A. Business and Accounting Ethics in Islam. London, Mansell Publishing Limited, 1991, 152 p.
Kulikova L.I., Mukhametzyanov R.Z. Formirovanie finansovoi otchetnosti v usloviyakh tsifrovoi ekonomiki: monografiya [Formation of financial statements in the digital economy: a monograph]. Moscow, Rusains Publ., 2023, 226 p.
Dmitrieva I.M., Kharakoz Yu.K. [Features of the Islamic accounting model]. Auditor, 2021, vol. 7, no. 5, pp. 41–45. URL: Link (In Russ.)
Hamid S., Craig R., Clarke F. Religion: A Confounding Cultural Element in the International Harmonization of Accounting? Abacus, 1993, vol. 29, iss. 2, pp. 131–148. URL: Link
Zhuravlev A.Yu. Islamskii banking [Islamic Banking]. Moscow, Sadra Publ., 2017, 137 p. URL: Link
Rafik Yunus al'-Misri. Fikkh imushchestvennykh otnoshenii [Fiqh of property relations]. Moscow, Islamskaya kniga Publ., 2015, 319 p.
Gambling T.E., Karim R.A.A. Islam and “Social Accounting”. Journal of Business Finance and Accounting, 1986, vol. 13, iss. 1, pp. 39–50. URL: Link
Baydoun N., Willett R.J. Islamic Corporate Reports. Abacus, 2000, vol. 36, iss. 1, pp. 71–90. URL: Link
