Autor(s): Agus Arwani
DOI: 10.24260/khatulistiwa.v2i1.196


Although the history of accounting stretches back to when the first organised society began, accounting theory development is mainly a child of the 20th Century. Although the profession began in the UK in 1853 in Scotland, it is in the USA accounting theory development took place with the contribution of academics and the participation of the profession. The accountability framework is discussed and proposed as an alternate framework. The reasons why this framework would be the most likely to be the one adopted in any Islamic accounting are given. The philosophy, ontology and epistemology of the Islamic worldview are given as a background to the need for of Islamic accounting. These are then discussed in the light of objectives of the Islamic syariah on which Islamic accounting would have to be based. The objectives of Islamic accounting are then discussed with the implication for Islamic accounting concepts, principles and reporting practices. It is concluded that Islamic accounting is part of the evolution of accountancy to a more holistic approach that takes into account the socio/political/natural environments and as an attempt to liberate accounting from its incarceration in the utilitarian economic domain.

Full Text:



Adnan, M. A. and Michael Gaffikin. 1997 "The Shari’ah, Islamic Banks and Accounting Concepts and Practices", Proceedings of International Conference I on Accounting, Commerce and Finance: The Islamic Perspective, Sydney Australia, 18-20 February 1997

American Accounting Association. 1977 , Committee on Concepts and Standards for External Financial Reports, Statement on Accounting Theory and Theory Acceptance

Arrington, E. 1990, "Intellectual Tyranny and the Public Interest: The Quest for the Grail of and the Quality of Life", Journal of Public Interest Accounting, Vol 3.

Baydoun, N. and R. Willett. 1994, "Islamic Accounting Theory", Paper presented at the AAANZ Annual Conference, 3-6 July 1994, Wollongong, Australia.

Chapra, U.M. 1992, Islam and the Economic Challenge, Leicester (UK): The Islamic Foundation.

Chua, W.F .1986, "Radical Developments in Accounting Theory", The Accounting Review, , Vol LX1, No. 4, October 1986.

Cooper, David J. and Michael J. Sherer. 1984, "The value of Corporate Accounting Reports: Arguments for a Political Economy of Accounting", Accounting, Organisations and Society , Vol. 9, No. 3/ 4.

Fazlurrahman, 2000, Doktrin Ekonomi Islam, Yogyakarta, Dana Bhakti Primayasa.

Friedman, M. 1962. Capitalism and Freedom, University of Chicago Press., Chicago.

Gambling, T. and R. A.A. Karim. 1991, Business and Accounting Ethics in Islam, London: Mansell.

Gray, R., D. Gray and C.Adams. 1996, Accounting and Accountability: Corporate Social and Environmental Reporting in a changing world , London:Hermel Hempstead: Prentice Hall.

Gray, R., D. Gray and K. Maunders .1991, "Accountability, Corporate Social Reporting and the External Social Audit", in C.R. Lehman (ed.) Advances in Public Sector Accounting, Vol 4.

Greenwood, E. 1957, "Attributes of a profession", Social Work, Vol. 2 No. 3.

Hove, Mfandaidza R. 1986, "Accounting Practices in Developing Countries: Colonialism’s Legacy of Inappropriate Technologies", International Journal of Accounting, Vol 22.

Kamali, M.H. 1989, Principles of Islamic Jurisprudence, Petaling Jaya, Malaysia: Pelanduk Publications.

Laughlin, R.C. and A.G. Puxty, 1981,"Decision-Usefulness Orientation, Wrong Cart, Wrong Horse", British Accounting Review, Vol 13. No.1 , Spring 1981.

Littleton. 1966. Accounting Evolution to 1900, reprinted by Russell and Russell: NY.

Parker, L.D. 1991, "External Social Accountability: Adventures in a maleficient world", Advances in Public Interest Accounting, Vol 4.

Roberts, J and Robert Scapens, 1985, "Accounting Sistems and Sistems of Accountability- Understanding Accounting practices in their organisational contexts ", Accounting, Organisations and Society , Vol. 10, No. 4.

Tinker T., B. Merino and M.Neimark. 1982." The normative origins of positive theory", Accounting, Organisations and Society, Vol 7, No. 2.


  • There are currently no refbacks.