A POSSIBLE IMPACT OF CULTURAL FACTORS ON THE EXPECTATIONS ON THE CONTENT OF ISLAMIC FINANCIAL STATEMENTS

• Published in: Problems of Management in the 21st Century Vol. 14; no. 1; pp. 21 - 31
• Main Authors: Czerny, Małgorzata, Mazurowska, Marta
• Format: Journal Article
• Language: English
• Published: Siauliai Scientia Socialis, Ltd 01.01.2019; Scientia Socialis, UAB; Scientia Socialis Ltd
• Subjects: Business Economy / Management; Economy; Financial Markets; Financial statements; Islam studies; financial reporting; cultural factors; decisionmaking; Islam; accounting harmonization
• ISSN: 2029-6932; 2538-712X
• DOI: 10.33225/pmc/19.14.21

The financial reporting is considered to be a ‘universal’ language of business, the efforts to harmonize and standardize it are dictated by conviction, that the usefulness of financial and non-financial information delivered this way can be improved and might facilitate comparisons of companies operating around the world, etc. However, the real perception of information generated by financial statements is made by real people, not by the economic model of homo oeconomicus, that is why psychological and cultural factors are extremely important in the analysis of this process. There is a lack of comprehensive studies on this subject. Most of publications are contributory.The research is based on the critical review of the subject literature and using mostly the method of induction, the impact of selected cultural conditions on the formulation of expectations on the content of the financial statements is examined and proved. The example of Muslim countries is used as the beginning of series of articles in the taken subject.