Munich Personal RePEc Archive

Specific features of Islamic accounting and cultural paradigm

Dima (Cristea), Stefana Maria and David, Delia and Păiuşan, Luminiţa (2010): Specific features of Islamic accounting and cultural paradigm.

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Abstract

The objective of this paper is to provide a synopsis of Islamic accounting characteristics as well as to identify some of the determinants which led to its specificity. It explores several aspects related to the Islamic accounting principles and its institutional framework. The cultural paradigm is viewed as a differentiating key factor in the elaboration and implementation of the accounting standards in the Islamic Word. Based on Hofstede approach, the elements of this paradigm are linked to the relative preference for IFRS adoption of different Islamic countries. From the proposed analysis, it emerges the image of Islamic Accounting’s complex nature, which may be seen as a distinct alternative to the principles and views promoted by IFRS.

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