Islamic Perspective

Islamic Accounting
Methodology

Compiled By

Dr. Hussien Shehata
Prof. of Accounting
Al-Azhar University


                         

In The Name Of ALLAH The Most Beneficien The Most Merciful

Read : In name of the LORD, who created, Created man from a clot,
Read, and they LORD is Most Bountiful,
Who teaches by the pen,
Teaches man that which he knew he knew not” IN THE NAME OF ALLAH, THE MOST GRACIOUS THE MOST MERCIFUL
WRITING FINANCIAL TRANSACTIONS IN THE HOLY QURAN
(Accounting Thought in Quran)
“O, you who believe, when you deal with each other, in transactions involving future obligation in a fixed period of time, record them to writing.
Let a scriber (a book keeper) writes down faithfully as between the parties. The scriber does not refuse to write as god has taught him. So let him write. Let him who incurs the liability dictate. But, let him fear his lord, and not diminish any thing of what he owes.
If the party liable is mentally deficient, or weak, or unable to dictate, let his guardian dictate faithfully.
And let two witnesses out of your own men, and if there are not two men, then a man and two women such as you choose for witnesses, so that, if one of them errs, the errs, the other can remind her. The witness should not refuse when they are called on.
Disdain not to record to writing for a future period whether it be small or big: it is jester in the sight of Allah, more suitable as evidence and more convenient to prevent doubts among yourselves ……………………….
So fear Allah, for it is Allah that teaches you, and Allah is well acquainted with all things. (AL-Bakkara – verse No. 282).
 يَا أَيُّهَا الَّذِينَ آمَنُوا إِذَا تَدَايَنتُم بِدَيْنٍ إِلَى أَجَلٍ مُّسَمًّى فَاكْتُبُوهُ وَلْيَكْتُب بَّيْنَكُمْ كَاتِبٌ بِالْعَدْلِ وَلاَ يَأْبَ