ISLAMIC accounting model

[NMU]

Hy !
I am student and i need inrormation about the islamic accounting model such as financiar statements,accounting plans, accounting standards, which are the users of the financial -accounting informations, which are the objectivs of the financial statements.
Thanke you !I hardly wait to hearing from you. BYE !

[jbladeus]

Hi NMU
welcome to the forum

For a brief primer on the islamic economic and accounting models, i found this article quite useful which was published on this website some time back.

http//www.accountancy.com.pk/articles.asp?id=100

If u need more articles like this, kindly send me an email, i'll be glad to share them with you.

The reference section of this website contains some useful stuff on islam and accounting. I suggest that u check it out.

________________________
Arrrgh... it sure's gonna be mighty rough sailin' today ... mates!

[NMU]

Thanke you for helping me.I apreciate this.
I am a student in a Roumanian University and we have to write a study about the accounting models that exists in this world.So far me and my collegs have discovered 8 models.I take care of the islamic, brittain and north europen models.

[jbladeus]

Very interesting work indeed. Can u please share the study you are preparing after it is completed? I will be most obliged.

________________________
Arrrgh... it sure's gonna be mighty rough sailin' today ... mates!

[NMU]

I would like very much to share the study i am working on with you but there is a big problem I am writting this study in the roumanian language...and because my native language is not an language of international circulation I think that even if I send you this study you won't be able to understand it, unless you know...roumanian.I could translate it but it take's to much time and for me time is very preciouse.
I still need some informations about islamic accounting techiques and about islamic anual reports(how many do they have).
Keep in touch!

[NMU]

I don't know if i am right but you seem to be an muslim.Can you tell me when the Holly Ramadan begins ?
How many month has the financial year in Islam?
What is the meaning of the phrase"laa ilaaha ilaa Allah"?
Shari'ate is the law that governs all the islamic preocupations?
I read something about it and i drew the conclusion that it is formed by the interpretations given by the Prophets to the Holly Koran saying's.

[CBPian]

Hi
Let me clarify some things to you.
Islamic accounting system does not have a form though it has a framework which is adequately explained in the previous linked article. it means you can adopt any accounting system and make it sharia' compliant by following the islamic framework.

I would suggest that you go through some selective website to understand islam and how it affects muslims and their daily lives. In this way you will be able to understand more fully how an accounting system can be made sharia' compliant.
Following link may help you.
http//www.islamicity.com/education/understandingislamandmuslims/

Once you have gone through the general understanding of islam, you can go through some of the articles on various issues like how financing is treated in islam etc.
http//www.accountancy.com.pk/reference_islam_accounting.asp

[jbladeus]

hi nmu

Yeah, you should follow CBPians recommendations. They will be quite helpful to u in understanding islam and the islamic economic and accounting system.

Indeed, i am a muslim. We are going thru the islamic month of Ramadhaan, or Ramazaan (another pronounciation) right now. If i am not mistaken, today is the 14th of Ramazaan. As u may know that Islamic months are based on the lunar calendar, as opposed to the gregorian calendar.

A year in the islamic calendar consists of the same twelve months as in the gregorian calendar, although the number of days differ with that of the latter, since a lunar month generally is of 28 days.

I've yet to see a company here in Pakistan follow the islamic calendar for their financial year, although i beleive that they may in Saudi Arabia. Maybe some members of this forum who have worked there might be able to shed some light on it.

"La ilaha..." is the first kalma, or the first reaffirmation of our faith and which every muslim believes in. It just means that Allah is the one and only god and muhammad is his prophet. Now since islam is also an abrahamic religion, it is our belief that Allah is no different than the Jehovah of Christians and the Jews. Actually if i am not mistaken the name Allah is an arabic transaltion for the hebrew Jehovah or vice versa.

Indeed... Sharia'h is the law, or i would say more of a lifestyle which has been prescribed to us by god through all the prophets. Our belief is that all the prophets, from the first to the last gave this same message that we should try to lead our lives in this prescribed fashion. If i am not mistaken, it isnt a structured, written statement like the ten commandments or the constitution of a country. Instead it calls for logic, reason and and the inherent human inner goodness to be used in all the decision making in life.

________________________
Arrrgh... it sure's gonna be mighty rough sailin' today ... mates!

[NMU]

I've started reading those articles about Islam.
Thanke you for answering my commonplace questions...
Keep in touch !
P.S today is the 15 th day of Ramadan.

[jbladeus]

whoops... sorry my mistake! <img src=icon_smile_big.gif border=0 align=middle>

________________________
Arrrgh... it sure's gonna be mighty rough sailin' today ... mates!

[NMU]

Nice smile!How is the weather in Pakistan ? In Roumania is very could, because is almost winter.
Bye!Nice talking to you!

[jbladeus]

Thnx... i guess this regular use of dental floss and the extra flouride toothpaste has paid off. <img src=icon_smile_tongue.gif border=0 align=middle>

The weather here.. hmm.. atleast here down south in Karachi its quite warm. Up north it must be starting to cool down. When it grows cold up there, it gets real cold, something like -20 C in some areas.

Isnt Transylvania in Romania? I would like to visit it sometime. Seems like a real interesting place.

________________________
Arrrgh... it sure's gonna be mighty rough sailin' today ... mates!

[NMU]

Yes, you are right Transylvania is placed in Roumania,exactly in the middle of our country.You probably heard of it because of the legend of Dracula.I live in the estern part of Roumania, in the region called Moldova.
We have a very nice library in our faculty.Eu have more then 120 computers all conected to Internet.This faculty is very rich because it has a lot of students and that's why we are allowed to use the informational resources only for 2 hour every day.For instance i have left just 29 minutes.So i have to go.
Have a very nice day!

[CBPian]

hi
pardon me my friend but isnt Moldova an independent country?







Edited by - CBPian on Nov 12 2003 122245 PM

[NMU]

Yes, but you should read some roumanian history to undertstand what i am talking about.
Roumania has three regions Moldovie in est;Ardealul in west and Muntenia in south.
Near the roumanian Moldove there is The republic of moldavia which was along time ago a part of roumania, the people of the republic of moldavia are speaking the roumanian language.Anyway after the second world war, our neighhours the russians took this region from us by force.After 1991 when the big brither called URRSS colapsed, Moldavia Gained its independency(althghou relatively) but it didn't have the right to join its county mother Roumania,because of the Russians.
Prehaps you've heard about "the bridge of flowes" across the river Prut which is the frontier between the two countries.
Today in our country there are discussion about union only before the political allections.
Anyway Roumania helps Modavia with energy, school(a lot of children from Repubilic Moldavia are studing in Roumania on the expensses of the Roumanian State.
Republic of moldavia is very poor and so is her sister from Romania, but are very strong cultural points.The romanian Moldavia is a very religious region(we are christians orthodox),is the place where Eminescu(a big poet)was born. Is the place where Stefan cel Mare fought against Ottomans in order to protect Europe and the religion of our country.
Republic of Moldavia uses the same coin like us, they have the same colors on their flag, and the dame National hymn, but thei are idependent from us.Maybe one day when the russians will agree we are going to join in order to became One big country as we where in the past.
Nice talking to you!Keep in touch!