What differentiates between financial accounting in both traditional and Islamic frameworks is the non-compliance of the former with Sharī'ah rules and regulations.

Question

Quizplus · Accepted Answer

Financial accounting in Islamic frameworks is differentiated from traditional financial accounting by its compliance with Sharī'ah rules and regulations, which govern not only the ethical aspects but also the financial transactions to ensure they are free from interest (riba), gambling (maisir), and uncertainty (gharar).

What Differentiates Between Financial Accounting in Both Traditional and Islamic