Graduation Year

2015

Date of Submission

12-2014

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics-Accounting

Reader 1

Marc Massoud

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Terms of Use for work posted in Scholarship@Claremont.

Rights Information

© 2014 Hashim M. Jamil

Abstract

This paper investigates by analyzing the Middle East, whether culture, with the significant influence of Islam, hinders the use of International Financial Reporting Standards (IFRS). Doctrines within the Islamic faith creates irreconcilable accounting practices that do not comply with IFRS. The two primary features of Islam that distinguishes Islamic accounting from conventional accounting, are the tenets of zakat and riba. Ultimately this paper discusses how these principles cause hindrance in the use of IFRS.

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