Accounting Via Accountability Influences the Reconstruction of Capital Accumulation: A Qualitative Study of Muslim Family Business

Abstract

This study explained the influence of accounting via accountability as a technology in reconstruction of capital accumulation among the Muslim family business in Malaysia. The researchers drew upon Bourdieu’s notions of capital and concept of accountability to frame the study and finally explain the ways of accounting as a technology infused in this reconstruction process. The study demonstrated that accountability has sparked in the process of capital accumulation among the family business entities, and their resulting accountability ramifications were discussed at the family business entities in the form of social capital, cultural capital, economic capital, and symbolic capital. The study adopted a case study approach utilising multiple data collection methods. Single family business was purposely selected based on the current phenomena on the capital accumulation among Muslim family businesses. The results, though highly case-specific, indicated that accounting through accountability was a powerful conduit for the reconstruction of capital accumulation process. Meanwhile, Islamic teaching and accountability framed the way of the case family business to reconstruct the capital accumulation in the family business entity. From this study’s result, further research can be done on how accounting as a technology influences the reconstruction of capital accumulation in other business types, and comparison can be made with the findings in other countries.