Islamic Azad University, Omidiyeh Branch, Omidiyeh, Iran
In Islamic countries, regarding to the role of teachings of Islam in people’s personal and social life and the role of religious law as the general pattern of ideal Islamic society, in accounting also must be considered teachings and commands of religious law. In this study, the component of Islamic accounting has been reviewed. Review of different description of Islamic accounting and comparing them with common accounting showed that there are differences among them: in the purpose of preparation of information, kind of realized information and the way they are measured and reported, information users, economic infrastructure, kind of accountability and application of religious law. Islamic accounting is after realization of some purposes including the following: profitability for decision making, Islamic accountability, zakat payment, usury prohibition, speculation prohibition, etc. It seems that Islamic accounting can improve the accounting and financial reporting in Islamic countries to a great extend, through considering the religious, cultural and social features and institutionalizing the common accounting in Islamic societies.