Section Article

An Emerging Dimension of Accounting: Islamic Accounting
Author(s): Kavita Rani

Abstract
Islamic Accounting is a unique approach to accounting that is based on the concepts of Islamic finance and Shariah law. Islamic Accounting differs from traditional accounting by including ethical concerns and social justice ideals with financial performance and conformity with Generally Accepted Accounting ideals (GAAP). This study examines the essential ideas of Islamic Accounting including its underlying principles goals and notable distinctions from traditional accounting methodologies. The study explores the objectives of Islamic Accounting which include enhancing openness justice and accountability in financial reporting. These objectives align with the principles of equality and social responsibility emphasised in Islam. In addition the study discusses the difficulties and possibilities linked to the adoption of Islamic Accounting standards in a worldwide financial setting. This research offers valuable insights into the changing landscape of Islamic Accounting and its consequences for stakeholders in both Islamic and non-Islamic settings via the analysis of current developments and case studies.