Accounting is the system that measures business activities, processes that information into rep orts, and communicates these findings to decision-makers. The output of accounting process is in the form of financial statements. Fi-nancial statements are documents that report on an individual's or organization's business in monetary terms. The accounting process relies on bookkeeping in the form of double entry system. The role of accounting is to serve the accountability of the agent (stewardship of the management) towards the principal (shareholders and other stakeholders) of the business wealth due t o the separation of ownership and control of the corporation. Stewardship accounting is associated with the need of those in business to keep records of their transactions, the manner in which they invested their wealth and the debts owed to them and by th em. Accounting is also shaped by the environment in which it operates. Since this differs from country to country (due to legal, economic, political, cultural etc. Diffe-rences) very diverse national financial accounting systems have developed.
Keyword: Accounting And Islamic
