Islamic Accounting - Challenges and Opportunities

Abstract

Unlimited profit orbits are the prime ami basic motive of Western pattern of accounting and management of Institutions. This am bitious programme was started in Europe in and 23'century itself, When the king of Portuguese encouraged "freelance Naval Commanders" to invent new lands, countries and shores to improve their business and further to expand, annex, grab and occupy them for the development of "self wealth of Europe". Then the "Colonial history" started and ended with Second WorldW ar. Again this super ambitious financial war has been reinvented as "Multi National Corporate System" through its accounting system.