Abstract

Islamic Accounting represents a distinct paradigm within the broader field of accounting grounded in the principles of Islamic finance and Shariah law. Unlike conventional accounting which primarily focuses on financial performance and compliance with Generally Accepted Accounting Principles (GAAP) Islamic Accounting integrates ethical considerations and social justice principles into its framework. This paper explores the fundamental concepts of Islamic Accounting including its foundational principles objectives and key differences from conventional accounting practices. It examines how Islamic Accounting aims to promote transparency fairness and accountability in financial reporting reflecting the values of equity and social responsibility emphasized in Islam. Additionally the paper addresses the challenges and opportunities associated with implementing Islamic Accounting standards in a globalized financial environment. By analyzing recent developments and case studies this study pro