Were Islamic Records Precursors to Accounting Books Based on the Italian Method?

Abstract

The precise origin of the accounting records and reports outlined by Pacioli in 1494 and used in the Italian Republics is presently unknown. Historical evidence preserved in Turkey and Egypt indicates that accounting records and reports developed in the early Islamic State were similar to those used in the Italian Republics as outlined by Pacioli in 1494. Furthermore, some of the records and reports used in different parts of the Islamic State are comparable to modern-day books and reports. The religious requirement of Zakat (religious levy) and the increasing responsibilities of the Islamic State were the force behind the development of accounting records and reports by Muslims. The Islamic State was established in 622, and Zakat was imposed on Muslims in the year 2 Hijri'iah (H) (623). The enactment of Zakat necessitated the establishment of the Diwan (office where accounts are held) and the initial development of accounting records and reports. These records were further developed in Addawlatul Abbasi'iah (Abbaside Caliphate) between 132–232 H (750–847) whereby seven accounting specializations were known and practiced. Auditing played a very important role in the Islamic State and was designated as one of the accounting specializations. This paper argues that it is most likely that the commercial links between Muslim traders and their Italian counterparts influenced the development of accounting books in the Italian Republics.

A Critique On Consolidation Accounting For Islamic Financial Institutions

“…http: //dx.doi.org/10.15405/epsbs.2018.05.48 Corresponding Author: Hani Hazaa Abdulbari Selection and peer-review under Zaid (2000b), in early time of the Islamic state, evidence of accounting records was found in Turkey and Egypt. In addition to the survived accounting records after the disintegration of the Ottoman Empire, considerable accounting archival belong to the eleventh and twelfth century was found (Zaid, 2000b).…”

“…In addition to the survived accounting records after the disintegration of the Ottoman Empire, considerable accounting archival belong to the eleventh and twelfth century was found (Zaid, 2000b). Many scholars such as (Orbay, 2005;Toraman et al, 2006;Yayla, 2007) have examined many accounting reports related to Wakaf which survived after the disintegration of the Ottoman Empire.…”

“…Some other scholars have indulged into studying estate accounting records belong to some dead people (Napier, 2009) records were also important for trader in order to help them measuring the profit and capital growth for the purpose of proper measuring for Zakat (Zaid, 2000b). …”

Malaysian accounting: an inquiry into the struggle, the crisis, and the future

“…Admittedly, in Malaysia not many references in accounting I could follow. Just look at the other ancient kingdoms such as ancient Greek [10,11], Roman [12], India [13,14] Mesopotamia [15,16,17,18], and in the early Muslims accounting especially the Middle and Near East Countries [19,20,21]. With their publication number increases I afraid the younger generation of accounting would have developed tastes in non-Malaysian history, leaving the Malaysian history into separate discipline.…”

Book Reviews

“…Nobes reveals several systematic biases in using these data and helps in assessing the results of the empirical study. Chapter 4 is also a comment and avoids a misinterpretation of the main hypotheses raised in a paper by Zaid (2000). While this paper seems to infer an Islamic influence on double entry or at least on pre-double entry Italian accounting practices, Nobes refutes these interpretations.…”