Conceptualising Accounting as a Value-Based Concept in the Context of Alternative Finance

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Abstract

Purpose
This study aims to investigate the claim that there is no coherent and homogeneous body of concepts and practices that can be classified as “Islamic accounting”.

Design/methodology/approach
The study focuses specifically on Islamic accounting and uses a qualitative historical documentary analysis methodology to study an original manuscript from the 14th century.

Findings
The analysis of the manuscript argues that religious accounting can be seen as a value-based system for achieving social good and that in the context of Islamic accounting, it can be conceptualised as a coherent body of ideas and practices.

Originality/value
Firstly, the study conceptualises Islamic accounting as a homogeneous discipline with its own knowledge, concepts and practices. Secondly, it contributes to current accounting literature by examining an ancient manuscript from the 14th century, which serves as a foundation for understanding the Islamic accounting system within the context of accounting, religion and spirituality. The paper further contributes by arguing that this conceptualisation of religious accounting as a value-based approach enables its practitioners to evaluate their own accountabilities in delivering on socioeconomic objectives related to inter-human/environmental, social and financial transactions within the context of religious accounting practices.
Original languageEnglish
Pages (from-to)(In-Press)
JournalJournal of Accounting Literature
Volume(In-Press)
Early online date29 Dec 2023
DOIs
Publication statusE-pub ahead of print - 29 Dec 2023

Bibliographical note

This author accepted manuscript is deposited under a Creative Commons Attribution Noncommercial 4.0 International (CC BY-NC) licence. This means that anyone may distribute, adapt, and build upon the work for non-commercial purposes, subject to full attribution. If you wish to use this manuscript for commercial purposes, please contact permissions@emerald.com.

Keywords

  • Religion
  • Islamic accounting
  • Accountability
  • Value-based accounting
  • Alternative finance
  • Accounting history

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