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Islamic accounting as the antecedent of modern accounting model: establishment and development in VII-XII centuries


Archakova-Uzhakhova M.B., Archakov I.N.
(about the authors)

Archakova-Uzhakhova Milana Bashirovna – (The Financial University under the Government of the Russian Federation)

Archakov Ibragim Nazirovich – (The Financial University under the Government of the Russian Federation)

Published in:
Journal of Economics, Entrepreneurship and Law
– Volume 9, Number 1 (January-March 2019)

JEL classification: B17, M21, M41, M42

Keywords: accounting policies, costs of exploration and evaluation, exploration assets, features of the use of IFRS standards, financial statements, IFRS 6, oil and gas industry, the costs of exploration and evaluation of mineral resources, transformation


Citation:
Archakova-Uzhakhova M.B., Archakov I.N. (2019). Islamic accounting as the antecedent of modern accounting model: establishment and development in VII-XII centuries. Journal of Economics, Entrepreneurship and Law, 9(1), 19-30. doi: 10.18334/epp.9.1.40685


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Abstract:

The article discusses the features of the transformation of the financial statements of Russian companies in the extractive industries to the IFRS format in terms of the presentation of the costs of exploration and evaluation of mineral resources, namely, the peculiarities of applying IFRS 6 in the oil and gas industry. A comparative analysis of the International Financial Reporting Standard (IFRS) 6 «Exploration and evaluation of mineral reserves» and PBU 24/2011 «Accounting for the costs of developing natural resources».







References:
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