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Showing posts from June, 2012

ACCOUNTING SYSTEMS AND RECORDING PROCEDURES IN THE EARLY ISLAMIC STATE

INTRODUCTION In an influential contribution Parker [2000] wrote that "the writing of accounting history is increasingly dominated by writers in English discussing private-sector accounting in English speaking countries of the 19th and 20th centuries . . . the scope of accounting history is much wider than this" [p. 66]. This paper seeks to further advance our increasing knowledge of the history of accounting outside English-speaking countries in periods earlier than the modern era. It also contests de Ste. Croix's claim [1981, p. 114] that "there seems to have been no really efficient method of accounting, by double or even single entry, before the thirteenth century". Analysis of medieval bookkeeping systems in Muslim society throws doubt on this assertion. The paper seeks to explore the work of early Muslim scholars on accounting in the context of zakat (religious levy) and the expansion in the revenues and expenditures of the Islamic state, the struct

Accounting & Bookkeeping!

Book-keeping systems There are two main systems for keeping the accounts of small businesses. These are single entry book-keeping and double-entry book-keeping. Their names really explain themselves. In double-entry book-keeping, for every entry recorded, it is in fact recorded twice, whereas in single entry book-keeping, it is just recorded once. For very small businesses, the single entry system is often preferred, but I personally prefer the double entry book-keeping system, because when mistakes happen (and they always will!) they are much easier to find. This system can also deal with unpaid bills and accounts. Therefore the rest of this article will concentrate on double entry book-keeping. There is much more that can be learnt about this subject - and if there is enough interest, further articles may be possible. However, I trust that this article will help you as you seek to serve the Lord in whatever work you are involved with. Double-entry book-keeping Whenever possi