Faizsiz Finans Muhasebe Standartlarının Mali Tabloların Sunuluşuna Etkileri Üzerine Bir Araştırma (A Research on the Effects of Islamic Accounting Standards on the Presentation of Financial Statements)

Abstract

Purpose – The rapid expansion of the Islamic Banks within the Financial System and the fact that most of these institutions operate in legislative environments - which are not in compliance with the nature of the Islamic banking structure - require the importance of adopting the Islamic accounting standards published by The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) which are recognized in many countries. Therefore, this study aims to examine the impact of Islamic accounting standards on the level of presentation and disclosure of financial statements in Islamic banks. Design/methodology/approach – The study focuses mainly on the differences between financial position and income statements that are prepared according to conventional accounting standards (IAS/IFRS) and Islamic accounting standards (FASs). Within the scope of the study, the major financial statements were analyzed comparatively in terms of presentation. Findings – The results of the study indicate that the international accounting and reporting standards do not comply with the specificity, contracts and products of the Islamic banks. Discussion – In addition, within the limits of the study, Islamic banks have to adopt the Islamic accounting standards published by AAOIFI since the disclosure requirements under IAS/IFRS standards are insufficient in terms of the level of disclosure in the Islamic banks.