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An intractable effect of revenue and expense recognition based on tax regulation and accounting rules is unresolved and may be manageable only by reducing the value of deferred taxes. Therefore, in this study, the authors examined the relationship between the International Accounting Standard 12 (IAS 12) and deferred income taxes associated with tax and accounting rules.

The authors used a large sample of balanced data from 144 firms across 1992–2019. To mitigate the problem of superfluous results, the authors used the same number of firms and years for pre- and post-IAS 12 periods. The authors employed robust econometric estimations to establish the impact of IAS 12 on deferred tax.

The regression results show that deferred tax assets decreased significantly, whereas deferred tax liabilities increased significantly, in the post-IAS 12 period. These contrasting results imply that IAS 12 implementation has increased conservatism and prudence in financial reporting. However, the authors find that the increase in deferred tax assets post-IAS 12 is value destructive, suggesting that its implementation has unintended consequences. The results are robust to alternative measurements and econometric identification strategies.

While prior studies have explored topics such as deferred tax measurement and the impact of income and expense recognition, the authors specifically analyzed how IAS 12 affects deferred taxes and their effect on the market valuation. The authors find that certain accounting standards may not be relevant to the capital market.

This study aims to develop a comprehensive insolvency model tailored to Islamic banks, ensuring alignment with Shariah principles throughout pre-insolvency, bankruptcy and post-bankruptcy stages.

The research adopts a qualitative research method, using a desktop research approach. Primary sources and secondary sources are examined to gather information and draw conclusions.

This study presents a comprehensive insolvency model designed for Islamic banks, rooted in Shariah principles. The model covers pre-insolvency, bankruptcy (taflis) and post-bankruptcy stages, incorporating key Shariah parameters to ensure adherence to Islamic finance principles. It addresses challenges such as adapting to dynamic financial landscapes and varying interpretations of Shariah principles. Notably, the model recognizes the separate legal personality of Islamic banks and emphasizes transparency, fairness and compliance with religious obligations. In the post-bankruptcy stage, directors are urged to voluntarily settle remaining debts, aligning with ethical and Shariah-compliant standards.

The study contributes to the stability and growth of Shariah-compliant financial systems by extending insolvency principles to Islamic banks, providing a foundation for future research and policymaking specific to this context.

Integrated thinking involves a holistic, multi-capital approach to decision-making and operations to promote value creation and sustainability. This paper aims to outline a schematic which can be used to gauge the levels of integrated thinking by organisations.

The researchers partnered with an independent consulting firm (“Sustain-X”) which has developed a tool for evaluating integrated thinking. A two-stage mixed-method design is used to evaluate the tool. Firstly, in keeping with the exploratory nature of the paper, the tool’s integrated thinking principles and indicators are contrasted with findings from an extensive review of the integrated thinking research and interviews with experts on how integrated thinking is understood and operationalised. Secondly, the tool was applied to a sample of South African listed firms’ integrated reports and used to generate integrated thinking scores. These scores are evaluated by testing the strength of their association with other generally accepted proxies for integrated thinking.

The principles of the schematic include integrated awareness and understanding; integrated leadership commitment and capability; integrated structures; integrated organisational performance management; and integrated external communication. Empirical results show that the integrated thinking measures generated using the Sustain-X schematic are aligned with integrated report quality scores and ratings of the sophistication of organisations’ accounting, management and governance structures.

A combination of earlier research findings, detailed interviews (conducted independently of Sustain-X) and a battery of quantitative tests have been used to evaluate the schematic, but more refined testing using additional case studies or ethnographies has been deferred.

The tool offers a practical means for stakeholders to evaluate integrated thinking. It is flexible enough to be used with data collected during private engagements with companies or only publicly available information.

The schematic is one of the first to outline the dimensions of integrated thinking and should be useful for academics and practitioners concerned with the development and application of integrated thinking.

This paper adds to the literature on integrated thinking and answers the call for further research to evaluate integrated thinking practices.

The purpose of this study is to explain the opinions of the Muslim jurists available in the fiqh books so that they may be compared with the approaches adopted by modern scholars for defining the concept of riba. It is argued that the method of jurists was different from the one adopted by the modern Muslim jurists and Islamic economists. The new method dichotomizes riba into those of the Quran and Sunnah. On the contrary, jurists of four Sunni schools considered the Quran and Sunnah in this regard as a single whole, and they saw Sunnah as the elaboration of riba. By explaining the similarities shared by different fiqh schools, it is explained that there is no need for a definition of riba.

The paper uses the method of content analysis. The authors have consulted the authentic fiqh manuals of the four Sunni fiqh schools to substantiate the objectives.

One of the major findings of this paper is that interest charged in loan transactions, including bank loans, is riba according to the four Sunni fiqh schools. Moreover, the paper also shows that the similarities among the four Sunni fiqh schools are far more significant than the often-highlighted disagreements among them regarding the concept of riba. The methodology adopted by modern Muslim scholars seems to add confusions around the concept of riba.

The paper discusses views of only four Sunni fiqh jurists.

The paper explains the common methodology followed by the jurists for understanding riba, the significant similarities resulting from their common method, the link between the concept of riba and different types of financial transactions within the framework of the jurists and that combining several fiqh schools at a time is a contradiction-ridden methodology.

This study aims to evaluate Islamic bank compliance with the accounting and auditing organisation for Islamic financial institutions (AAOIFI), assess the impact of multiple accounting standards in Islamic banking, examine the need for private accounting standards and assess international financial reporting standards (IFRS) compatibility with Islamic banking and analyse financial leasing accounting in Islamic banking compared to IFRS 16.

A combination of comparative theoretical analysis, physical examination, and semi-structured interviews has been used as a research methodology. These methods are interconnected and complement each other to provide a comprehensive approach to address the research questions.

Islamic banks in various countries show varying compliance with AAOIFI accounting standards. Some fully comply, while others adopt a hybrid approach combining AAOIFI and IFRS. Differences in accounting treatments can result in conflicts, asset inflation and financial statement discrepancies. Challenges and criticisms faced by AAOIFI standards include violating the matching principle and lacking faithful representation. Collaboration among academics, standards-setting bodies and organisers is crucial for guiding the reporting of Islamic financial statements.

The research identifies gaps in implementing Islamic accounting standards and proposes strategies to enhance compliance, improve performance and increase transparency in Islamic financial institutions. It highlights the importance of a harmonised and universally accepted accounting framework for Islamic banking, considering the compatibility between IFRS and Islamic principles.

Social implications have arisen regarding the global acceptance of Islamic finance, which leads to an increase in socially Islamic finance exchange.

This research examines the consequences of using multiple accounting standards in the Islamic banking industry and discusses the need for private accounting standards and compatibility with IFRS.

This paper aims to achieve two goals: first, to evaluate the existing interest-free monetary policy tools in the major Islamic financial hubs of Malaysia, Pakistan and Bahrain and; second, to suggest how monetary policy tools in Turkey can be used in other countries.

This study follows a qualitative research method based on literature review, comparison, evaluation and design.

The policy rate cannot be used due to Shariah concerns. The reserve requirement depends on qard, and the reserves should be kept separately in the central bank. In terms of ijarah sukuk, Shariah concerns should be taken into account and a new structure, as displayed in Figure 3, should be followed. Government investment certificates can be used as an interest-free monetary policy tool. A genuine mudarabah interbank investments can also be used. Wadiah acceptance with no habitual gift can be used as well, and Tawarruq and central bank notes are not preferable due to Shariah concerns as well. Having said that, a Turkey-based tawarruq platform can be structured for others to use instead of applying to London.

This paper’s unique suggestion is to develop an interbank taqaruz market and a taqaruz method with the central bank. It is also unique for Turkey in the subject.

The family is one of the foundations of society; its significance for societal redistribution in modern societies, though, remains particularly unclear. A major reason for this is that theoretical approaches to societal redistribution have not adequately included family either in social philosophy or in welfare state theory. As a consequence, also empirical analyses of differences and developments in societal redistribution have not included family or only in as far as family is affected by other redistributive principles. This paper contributes to filling this theoretical gap.

This paper theorises family as a redistributive principle. With reference to the major theoretical concepts of redistribution, it identifies the relevant dimensions of family in societal redistribution and develops a typology of its inclusion in societal redistribution.

Approaches to redistribution are shaped by distinct concepts of equal or unequal exchange, the relevant actors they identify and by different understandings of the economy. These distinctions are central to understanding the position of family in societal redistribution. With reference to the major theoretical concepts of redistribution, this paper identifies the relevant dimensions of family in societal redistribution and develops a typology of its inclusion in societal redistribution. Further investigations might draw on this typology and detect the theoretical foundations of its conceptualisations and its similarities to and deviations from the developed types.

This paper provides a theoretical groundwork for theoretical and empirical investigations of societal redistribution and for better comprehending its international variation. It aims to initiate a fundamental rethinking of the usual understanding of societal redistribution that widely ignores family as a redistributive principle of its own.

In the mid-2000s, the operator of New York City’s mass transit network committed more than a half-billion dollars to military contractor Lockheed Martin for a security technology capable, in part, of inferring threats based on analysis of data streams, of developing response strategies, and taking automated action toward alerts and calamities in light of evolving circumstances. The project was a failure. This chapter explores the conceptualization and development of this technology – rooted in cybernetics – and compares its conceptual underpinnings with some situated problems of awareness, communication, coordination, and action in emergencies as they unfold in one of the busiest transport systems in the world, the New York subway. The author shows how the technology, with all the theatrical trappings of a “legitimate” security solution, was apparently conceived without a grounded understanding of actual use-cases, and the degree to which the complex interactions which give rise to subway emergency can be anticipated in – and therefore managed through – a technological system. As a case-study, the chapter illustrates the pitfalls of deploying technology against problems which are not well-defined in the first place, to the neglect of investments against much more fundamental problems – such as inadequate communication systems, and unstable relationships with emergency response agencies – which might offer guaranteed benefits, and indeed lay a firm groundwork for future deployment of more ambitious technology.

The paper traces the development of employee ownership in the UK since the 1980s. It proposes that employee ownership is a function of macro-level contexts and micro-level decisions, with the latter framed and guided by the former. The macro context comprises the regulatory framework and the provision of incentives to adopt employee ownership. The paper shows how the evolution of these has led to a steep increase in employee ownership in the last eight years.

The paper draws on several sources of empirical data to chart the development of employee ownership in the UK since the 1980s and to identify the current features of employee ownership. Two firm-level surveys conducted in 2015 and 2020/21 are supplemented by qualitative case study data collected in the early 1990s. An annual census of all employee-owned firms facilitates a comprehensive overview of the current state of UK employee ownership.

It is found that there has been a steep increase in the number of UK employee-owned firms since 2014 after several decades of uneven growth. This is attributed to the introduction of new incentives and to refinements of the regulatory framework. Over the period, there has been a shift from hybrid employee ownership, combining direct and indirect forms, to indirect ownership associated with the employee ownership trust model.

The paper provides an original history of employee ownership in the UK using rich and unique data, along with the most comprehensive picture of current employee ownership to date.

This paper aims to analyse the character and strength of the claims made in an emerging literature offering a sociology of financial reporting principles.

The analysis evaluates exemplary works in the literature against the characteristics of the paranoid style first identified by Richard Hofstadter: overheated claims of a far-reaching, malign and collusive machinery of influence; a reductive, rationalistic and dualistic reading of events; weak empirics; and weak theorisation.

A significant stream within the literature is coming to be constructed in the paranoid style. Paranoid stylistics, used as a diagnostic tool, alerts us here to distorted judgement.

Alternative ways of avoiding the dangers of paranoid-style readings are suggested, ranging from resisting the temptations towards such readings to a radical re-working of the epistemics of “socio-accounting”.

The danger of allowing the conclusions advanced in the literature to go unchallenged is that they may influence society’s attitude to accounting, public policy-making and scholars’ willingness to contribute to the crafting of reporting principles and standards.

Although paranoid style analysis has been widely used to examine narratives in other academic fields, to the best of the author’s knowledge, this is the first study to apply it to scholarly accounting.