THE DIFFERENCES BETWEEN CONVENTIONAL AND ISLAMIC ACCOUNTING ABSTRACT The concern of this project paper is to explore the differences between Islamic accounting and its conventional counterpart. The distinctions need to be addressed as both accounting is presently thought of many people as synonymous. There is danger for such kind of perception because the basic building blocks for respective accounting are worlds apart. As for professional accountants who have been taught on the idea for accounting
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Cultural Relativism is a perspective that moral codes vary from culture to culture‚ no moral code within in a culture is superior to the other codes in different cultures; This ideology comes from that there is no universal truth‚ meaning there is no philosophical standard that determines if something is either right or wrong‚ therefore one cannot establish that something is “better.” In “The Challenge of Cultural Relativism‚” James Rachels introduces the topic by introducing Darius whom is a king
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Ethnocentrism and Cultural Relativism The world today consists of an incalculable number of societies. Each society varies significantly in the different elements of culture. Culture is one’s designed way of living based on erudite customs‚ knowledge‚ material items‚ and behavior. Within every society today lives an ethnocentric attitude. The belief that ones own culture is superior to that of another’s. However‚ it is important to develop a sense of cultural relativism in today’s society‚ considering
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Organic Farming vs. Conventional Farming There are various reasons of why organic farming is more sustainable than conventional agriculture. Concisely‚ the most important reasons can be explained as under. If we grow food organically‚ it benefits the soil‚ water cycles and biodiversity. The author T. Singh (2004) writes that the Green Revolution technology “has been very successful in achieving spectacular results in food grain production during the last three decades. However‚ signs of fatigue
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Types of ethic system frameworks: there are 5 types of ethical system frame work; Ethical frameworks provide guidance on how CFO can adopt in the decision making process when dealing with financial reporting decision based on the frameworks adopted. Various ethical frameworks may be used which include: 1. The non-cognitivism ethical approach argues that there are no objective ethics as moral statements are influenced by culture‚ beliefs and personal emotions. The concept of right and wrong are
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the frames feature of Netscape can be used to present a conventional academic paper‚ complete with publication information‚ abstract‚ figures‚ footnotes‚ and bibliography. Using this template‚ it is not difficult to tag an existing academic paper for this kind of display on the Web. It is not necessary to make the paper "hypertextual" in order to present it in this manner. Of course‚ you can also create hypertextual links from conventional papers to other sources of information quite easily‚ and
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principles about women and to honor their religion they follow them. Cultural relativism is important here. It states that a people’s values and customs must be understood in terms of the culture of which they are a part. If the Iraqi women do not understand why they are to cover their bodies
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Cultural relativism is a process involving the examining and understanding of a culture‚ /different from your own‚ without discrediting their beliefs. Understanding differing cultural beliefs can be acquired by considering functions of practices‚ behaviors‚ symbols‚ traditions‚ and morals within a society. The initial concept of cultural relativism was created to turn people away from ethnocentrism‚ which is the belief that your cultures beliefs are authentic and all other cultures beliefs are
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Franchising business is based on relationship as the franchisor will licenses its trade name like the brand and its franchising operating methods to the franchisee who agrees to operate according to the terms of a contract. Franchise business provide advantage to the franchisee as it offers reduced uncertainty‚ well-known trademark product or service‚ faster opportunity to earn profit ‚ leadership and support. However‚ with new franchise concepts popping up constantly‚ not all are destined to succeed
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Islamic Banking vs. Conventional Banking In most Islamic countries‚ they tend to practice two types of financing in banking industry which are conventional and Islamic banking. The country like in Malaysia has successfully developed an Islamic banking system that operates in parallel with the conventional banking system. There is similarity between conventional banking and Islamic banking which helps to promote economic growth provided financing services such as credit facilities for business activity
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