Accounting is a science that studies tools and techniques for recording, classifying, analyzing, presenting and interpreting financial information. Accounting is divided into two fields, namely conventional accounting and sharia accounting. The two areas of accounting have several significant differences.
Therefore, The basic principles of conventional accounting are the principles established by the international accounting institution (iasb). These principles include the principle of responsibility, historical principle, cash principle, accrual principle, availability principle, agreement principle, fairness principle, continuity principle, reality principle, and cost incurrence principle. Meanwhile, the basic principles of sharia accounting emphasize the principles established by the international sharia board (isb). These principles include limiting usury, limiting speculation, limiting the use of debt, limiting dividend distribution, limiting permitted products, and limiting insurance.
Conventional accounting concepts emphasize the assessment
Reporting and disclosure of financial information, which allows investors, governments and other publics to make informed decisions. Meanwhile, the sharia accounting concept emphasizes disclosing information that is relevant to buyers and sellers of sharia products. The aim is to avoid transactions that are not in accordance with sharia principles.
Differences in methods
Therefore, Conventional accounting usa phone number list methods emphasize the use of accounting methods that have been established by the iasb. The iasb sets accounting standards that accountants must adhere to, allowing accurate and reliable financial information to be achieved. Meanwhile, sharia accounting methods emphasize the use of methods established by the isb. The isb sets accounting standards that accountants must adhere to, enabling financial information that is compliant with sharia principles to be achieved.
Conventional accounting ethics emphasizes professional
Therefore, Ethics that must be adhered to by accountants. This ethics includes aspects related to integrity, objectivity, professionalism, competence BSB Directory and responsibility. Meanwhile, sharia accounting ethics emphasizes sharia ethics that must be adhered to by accountants. This ethics includes aspects related to attitudes, behavior and decisions that are in accordance with sharia principles.
From the description above, it can be concluded that sharia accounting and conventional accounting have several significant differences. These differences include basic principles, concepts, methods and ethics. These two areas of accounting have different goals, which makes them suitable for different needs.