Academy of Strategic Management Journal (Print ISSN: 1544-1458; Online ISSN: 1939-6104)


Islamic Accounting Standards Vs International Financial Reporting Standards

Author(s): Mohammad Haroun Sharairi

Proposed paper aimed to express the uniqueness of both Islamic Accounting and Financial Reporting Standards. The study aimed to make a significant comparative work by considering key aspects. Islamic Accounting Standards is backed by Auditing Organization for Islamic Financial Institutions (AAOIFI).The presented research work was intended to mainly focus to identify which system is recommended for user in the UAE. The survey was carried out by considering detailed information from the respondent’s cross various research questionnaire.The strategy involved for gathering the data was by means of complete professional documents and there by preforming a well-defined set of questionnaires. These contents helped to make better survey by integrating financial institutions in the UAE.This work can be of significant importance which relates to (IFRS International Financial Reporting Standards), since it signifies few of the critical issues of the society such Riba and Zakat with respect to interest. The concept here it to inductee the communication with each other, due to the prolong era of new generation, improved accounting system has developed variety of ideological and mid set. In addition, these reporting standards promote the global implications which are much ahead of jurisdictions.

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