Development of Emancipatory Accounting †Free Samples to Students

Question: Discuss about the Development of Emancipatory Accounting. Answer: Introduction: After the significant emergence and development of Islamic culture along with Islamic financial system and their associate institutions, the economy has realized the need of Islamic accounting. Islamic society operates their business under various assumptions and principles, where the Shariah describes duties related to customers, employments and competitors (Hamid, 2018). The two basic principles, based on which this accounting operates, are justice and benevolence. To conduct the research in an efficient way, it is essential for the researcher to analyze some basic aims and objectives based on which the research can proceed further (Retsikas, 2017). Here, the concerned person is trying to find out the future of Islamic accounting as this system differs with other accounting system by providing risk averse and stable option. To analyze the future of Islamic accounting worldwide To analyze about the role of Islamic banks in different countries To determine various advantages and disadvantages related to this accounting To analyze the difference between the Islamic finance and the conventional finance Research questions: Based on the above-mentioned aims and objectives, the researcher can set some questions from which the concerned person can precede research work further. What is the future of Islamic accounting in this world? What is the chief role of an Islamic bank in a country? What are the various advantages and disadvantages of the Islamic accounting? How does the Islamic finance differ with conventional fianc? Literature Review: According to the Amela Trokic, to understand about the development of Islamic accounting and its probability to grow in future, it is essential to understand about the historic influence of this accounting over the conventional one. The journal has described importance of Islamic accounting based on some historical evidences. In this regard, the author has described some historic events like the era of the second Caliph of Umar and the period of the Prophet Muhammad (Trokic, 2015). From analyzing the development of Islamic accounting, the author has traced out the modern scenario of Islamic accounting after which the author has drawn the difference between Islamic accounting with the conventional one. In another literature, the author Rania Kamla has narrated the thought of critical Muslim intellectuals based on some empirical thoughts. This paper has been represented the thoughts of Critical Muslim Intellectuals (CMIs) based on philosophy, second modernity and cultural hybridity (Ka mla, 2015). In this context, Pejman Abedifar has described the importance of Islamic banking and finance and other authors, who have done future research on those financial institutions based on empirical literature. After the finding, authors have found out some chief outcomes, as Islamic banks are efficient to conduct the financial operation in the market by providing lower default compare to that of conventional counterparts (Abedifar et al., 2015). Hence, being the most competitive financial institutions in the market, those banks can promote financial inclusion along with economic development. To understand the future of Islamic accounting based on business study, the researcher, through analyzing the Islamic accounting market of the United Arab Emirates (UAE), intense to find the answers of all questions that are mentioned before. Firstly, to understand the implications of Islamic accounting on this specified country, it is essential to consider some sample of both Islamic and conventional banks, based on which the concerned person can conduct a research (Besley, Vijver, Behrens Bosker, 2017). As the country possesses many financial institutions, it can be beneficial for the researcher to collect data from some specific banks of both types (Karim, Alhabshi, Kassim Haron, 2018). Secondly, the researcher needs to analyze the operational function between an Islamic bank and a conventional bank. To collect data on interest rate and profit creation of both kinds of banks, the concerned person, through maintain data on excel sheet, can represent different outcomes through sta tistical diagram (Bubenik, 2015). Moreover, to understand the implications of those financial banks on economic development, the researcher can analyze the amount of contribution through financial aid on UAE (Chattha Alhabshi, 2018). Hence, by comparing those financial statements with secondary data, the researcher can predict that whether Islamic accounting. Conclusion: In conclusion, it can be stated that the researcher intends to analyze the future of Islamic accounting and for doing so; the person has set some aims and objectives. The chief focus of this report is to examine the role of Islamic bank and to understand its advantages and disadvantages; the concerned person is seeking to distinguish between these Islamic banks with the conventional one. Moreover, to support this research, the researcher has also done a literature review related to this topic. References: Abedifar, P., Ebrahim, S. M., Molyneux, P., Tarazi, A. (2015). Islamic banking and finance: recent empirical literature and directions for future research.Journal of Economic Surveys,29(4), 637-670. Besley, A., Vijver, M. G., Behrens, P., Bosker, T. (2017). A standardized method for sampling and extraction methods for quantifying microplastics in beach sand.Marine pollution bulletin,114(1), 77-83. Bubenik, P. (2015). Statistical topological data analysis using persistence landscapes.The Journal of Machine Learning Research,16(1), 77-102. Chattha, J. A., Alhabshi, S. M. (2018). Lowly or Negative Benchmark Rates Bandwagon: Any Risk Implications for Islamic banks?.Al-Iqtishad Journal of Islamic Economics,10(1), 115-134. Hamid, A. M. (2018). ISLAMIC GOVERNANCE IN ISLAMIC SCHOOL FINANCE.CENDEKIA: Journal of Education and Teaching,12(1), 1-22. Kamla, R. (2015). Critical Muslim intellectuals thought: Possible contributions to the development of emancipatory accounting thought.Critical Perspectives on Accounting,31, 64-74. Karim, N. A., Alhabshi, S. M. S. J., Kassim, S., Haron, R. (2018). Measuring Bank Stability: A Comparative Analysis Between Islamic and Conventional Banks in Malaysia. InProceedings of the 2nd Advances in Business Research International Conference(pp. 169-177). Springer, Singapore. Retsikas, K. (2017). The gift of future time: Islamic welfare and entrepreneurship in 21st century Indonesia.South East Asia Research,25(3), 284-300. Trokic, A. (2015). Islamic Accounting; History, Development and Prospects.European Journal of Islamic Finance, (3).