How Islamic accounting system and practices are different from conventional accounting? I also want to know different articles on Islamic Accounting and links.
There is a journal on Islamic accounting that may be useful for you. Please see the link.
http://www.emeraldinsight.com/journal/jiabr
To understand the difference between Islamic Accounting and Conventional Accounting you first need to understand the concept of Islamic Finance.
Since early 1980's banks and non-banking financial institutions (NBFIs) in the Islamic countries have been faced with the problem of financing different sectors of economy through modes which do not contravene the injunctions of Shariah regarding riba or interest. This led to several modes of financing which were Shariah compliant.
Islamic banks and other NBFIs who adopt Islamic modes of Financing can account for such transactions under Islamic Financial Accounting Standards which are different from conventional accounting standards.
You may like to have a further read at:
http://www.icaew.com/en/library/subject-gateways/islamic-finance/accounting-for-islamic-finance
and
http://aaoifi.com/?lang=en
To understand Islamic Finance I would recommend to read 'Islamic Finance in a Nutshell: A Guide for Non-Specialists' by Brian Kettell
http://eu.wiley.com/WileyCDA/WileyTitle/productCd-0470748613.html
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