Türk Sosyal Bilimler Araştırmaları Dergisi

Abstract

The centrality of accounting research has been
in a constant shift between normative thinking and exploring empirical
practices.  The reason for the shift is
complex but one reason may be attributed to the disillusionment with the
current normative thinking and the growing interest in exploring accounting
realities from multiple branches of socio-economic life. Normative
thinking is generally based on previous decade’s philosophical ideas that have
not be captured in practice but which advocates on designing accounting systems
that are based on specifically advocated moral philosophy.  When scandals emerged as a result of
accounting practices and behaviours of those entrusted with the resources, the
disillusion with the advocated moral foundation leads to a shift towards
exploring the reality of practices and at the same time searching for a new
moral philosophy for accounting. This paper narrates how accounting researchers
emerge as a ‘tribe’ that pastures within well protected territories using
specifically selected political and moral stands and excluding any other
alternatives, particularly Islamic normative moral philosophy.  The presentation concludes by emphasizing on
the needs to develop a wide range of Islamic theoretical and methodological
approaches that are vital for the progress of Islamic institutions as well as
the rest of macroeconomic components (markets, people and ecosystems).  Based on personal ijtihad, it argues
that Islamic methodology has three main components:
foundations for the Islamic methodology, starting principles, and essential
conceptual framework for the Islamic methodology.