Islamic Accounting

Edited by

Christopher NapierProfessor of AccountingRoyal Holloway, University of London, UK

and

Roszaini HaniffaProfessor of Accounting and FinanceHull University Business School, UK

An Elgar Research CollectionCheltenham, UK • Northampton, MA, USA

Contents

Acknowledgements ixIntroduction: An Islamic Perspective of Accounting Christopher Napier and

Roszaini Haniffa xiii

PART I CONCEPTUAL FRAMEWORK FOR ISLAMIC ACCOUNTING1. Moustafa F. Abdel-Magid (1981), 'The Theory of Islamic Banking:

Accounting Implications', International Journal of Accounting,17 (1), Fall, 79-102 3

2. Rifaat Ahmed Abdel Karim (1995), 'The Nature and Rationale of aConceptual Framework for Financial Reporting by Islamic Banks',Accounting and Business Research, 25 (100), Autumn, 285-300 27

3. Roszaini Haniffa and Mohammad Abdullah Hudaib (2002), 'ATheoretical Framework for the Development of the IslamicPerspective of Accounting', Accounting, Commerce and Finance:The Islamic Perspective Journal, 6 (1&2), June/December, 1-71 43

PART II ACCOUNTING ETHICS AND SOCIAL RESPONSIBILITY4. T.E. Gambling and R.A.A. Karim (1986), 'Islam and "Social

Accounting'", Journal of Business Finance and Accounting, 13 (1),Spring, 39-50 117

5. Cyril Tomkins and Rif at Ahmed 'Abdul Karim (1987), 'TheShari'ah and its Implications for Islamic Financial Analysis: AnOpportunity to Study Interactions Among Society, Organization,and Accounting', American Journal of Islamic Social Sciences,4 (1), September, 101-15 129

6. Saeed Askary and Frank L. Clarke (1997), 'Accounting in theKoranic Verses', Accounting, Commerce and Finance: The IslamicPerspective International Conference I, 138-52 144

7. Kazi Firoz Alam (1998), 'Islam, Ethics and Accounting Practices',Accounting, Commerce and Finance: The Islamic PerspectiveJournal, 2 (2), December, 67-85 159

8. Mervyn K. Lewis (2001), 'Islam and Accounting', AccountingForum, 25 (2), June, 103-27 178

9. Athar Murtuza (2002), 'Islamic Antecedents for FinancialAccountability', International Journal of Islamic FinancialServ/ces, 4 (1), April-June 203

Islamic Accounting

10. Ros Haniffa, Mohammad Hudaib and Abdul Malik Mirza (2002),'Accounting Policy Choice within the Shari'ah Islami'iahFramework', Discussion Papers in Accountancy and Finance,School of Business and Economics, University of Exeter, WorkingPaper 02/04, 1,3-27 222

PART III CORPORATE REPORTING11. Shaari Hamid, Russell Craig and Frank Clarke (1993), 'Religion: A

Confounding Cultural Element in the International Harmonizationof Accounting?', Abacus: A Journal of Accounting, Finance andBusiness Studies, 29 (2), 131—48 251

12. Rifaat Ahmed Abdel Karim (2001), 'International AccountingHarmonization, Banking Regulation, and Islamic Banks',International Journal of Accounting, 36 (2), May, 169-93 269

13. Trevor Gambling, Rowan Jones and Rifaat Ahmed Abdel Karim(1993), 'Credible Organizations: Self-Regulation v. ExternalStandard-Setting in Islamic Banks and British Charities', FinancialAccountability and Management, 9 (3), August, 195-207 294

14. Nabil Baydoun and Roger Willett (2000), 'Islamic CorporateReports', Abacus: A Journal of Accounting, Finance and BusinessStudies, 36 (1), February, 71-90 307

15. Roger Willett and Maliah Sulaiman (2001), 'Islam, EconomicRationalism, and Accounting', American Journal of Islamic SocialSciences, 18 (2), Spring, 61-93 327

16. Maliah Sulaiman (2001), 'Testing a Model of Islamic CorporateFinancial Reports: Some Experimental Evidence', HUM Journal ofEconomics and Management, 9 (2), 115-39 360

17. Rania Kamla, Sonja Gallhofer and Jim Haslam (2006), 'Islam,Nature and Accounting: Islamic Principles and the Notion ofAccounting for the Environment', Accounting Forum, 30 (3),September, 245-65 385

18. Bassam Maali, Peter Casson and Christopher Napier (2006),'Social Reporting by Islamic Banks', Abacus: A Journal ofAccounting, Finance and Business Studies, 42 (2), June, 266-89 406

19. Roszaini Haniffa and Mohammad Hudaib (2007), 'Exploring theEthical Identity of Islamic Banks via Communication in AnnualReports', Journal of Business Ethics, 76 (1), November, 97-116 430

PART IV ACCOUNTING PRACTICE AND ZAKAT20. Mohammad Akhyar Adnan and Michael Gaffikin (1997), 'The

Shari'ah, Islamic Banks and Accounting Concepts and Practices',Accounting, Commerce and Finance: The Islamic PerspectiveInternational Conference I, 116-37 453

Islamic Accounting

21. Frank Clarke, Russell Craig and Shaari Hamid (1996), 'PhysicalAsset Valuation and Zakat: Insights and Implications', Advances inInternational Accounting, 9, 195-208 475

22. Kamal Naser, Victor Murinde and Abdulla Al-Utaibi (2001),'Accounting for Zakat: Evidence on Zakat Payment, Collection andDistribution in GCC Countries', Accounting, Commerce andFinance: The Islamic Perspective Journal, 5(1), June, 25-65 489

23. Bill Maurer (2002), 'Anthropological and Accounting Knowledgein Islamic Banking and Finance: Rethinking Critical Accounts',Journal of the Royal Anthropological Institute, 8 (4), December,645-67 530

24. Ros Aniza Mohd. Shariff and Abdul Rahim Abdul Rahman (2004),'An Exploratory Study of Ijarah Accounting Practices in MalaysianFinancial Institutions', International Journal of Islamic FinancialServices, 5 (3), October-December 553

25. Abdul Rahim Abdul-Rahman and Andrew Goddard (1998), 'AnInterpretive Inquiry of Accounting Practices in ReligiousOrganisations', Financial Accountability and Management, 14 (3),August, 183-201 568

26. Jesmin Islam, Dennis Taylor and Atique Islam (2000), 'TheInformation Adequacy of Management Accounting SystemsAmongst Islamic and Non-Islamic Banks in Bangladesh',Accounting, Commerce and Finance: The Islamic PerspectiveJournal, 4 (1&2), June/December, 1-29 587

PARTV AUDITING27. Muhammad Akram Khan (1985), 'Role of the Auditor in an Islamic

Economy', Journal of Research in Islamic Economics, 3 (1), 31-41 61928. Rifaat Ahmed Abdel Karim (1990), 'The Independence of Religious

and External Auditors: The Case of Islamic Banks', Accounting,Auditing and Accountability Journal, 3 (3), 34-44 630

29. Keith L. Hood and Raja A. Bucheery (1999), 'The Interaction ofFinancial and Religious (Islamic) Auditors with Reference to theAudit Expectation Gap in Bahrain', Account ing, Commerce andFinance: The Islamic Perspective Journal, 3 (1&2), June/December,25-58 641

PART VI ISLAMIC HISTORY OF ACCOUNTING30. Omar Abdullah Zaid (2000), 'Were Islamic Records Precursors to

Accounting Books Based on the Italian Method?', AccountingHistorians Journal, 27 (1), June, 73-90 677

31. Cigdem Solas and Ismail Otar (1994), 'The Accounting SystemPracticed in the Near East During the Period 1220-1350 Based onthe Book Risale-i Felekiyye', Accounting Historians Journal,21(1), June, 117-35 695

Islamic Accounting

32. Shaari Hamid, Russell Craig and Frank Clarke (1995),'Bookkeeping and Accounting Control Systems in a Tenth-CenturyMuslim Administrative Office', Accounting, Business and FinancialHistory, 5 (3), 321-33 714

33. Omar Abdullah Zaid (2000), 'The Appointment Qualifications ofMuslim Accountants in the Middle Ages', Accounting Education,9 (4), 329-42 727