This is a modified version of my article published in “Pakistan Accountant” in January 2005. Amused!!! Yes life has a profit and loss account; even a balance sheet. This new facet of accounting will be very interesting for all accountants. Giving a religious touch to a dry subject will surely be a delightful surprise.
The accounting of life, as the accounting we have studied and been doing, follows certain rules and principals. There is a balance sheet and a profit and loss account. All transactions in life are duly recorded, without any exception, through a complex double entry system. The recording system has been created by the Almighty, so it never falters, and never needs up-gradation. Each and every of our transactions is recorded, and there are no off Balance Sheet items.
Before dwelling deeper, let's first find out what are the fundamentals or conventions for the accounting of life. The basic rule is fairly simple; "all debits equal all credits". This simple rule ensures that balance sheet of our life always remain balanced. If we try to make a debit transaction (i.e. taking bribe); it will automatically create a credit transaction (i.e. medical expense, or loss of an asset).
The second rule is fairly common. Allah has predetermined Rizq for each one of us. What is Rizq? Revenues? Income? or Profits? I gave it considerable thought and came to the conclusion that Rizq means profit. But it is not the profit we are familiar with. It is the measure of utility or satisfaction.
How does this accounting work? Let’s use an example. We all know that income minus expenses is profit. Profit (Rizq) is fixed, while the income and the expenses can be varied. The bottom line will always remain same. If my Rizq is 10,000 I will always have an income minus expense balance of 10,000. If I try to increase my income, expenses will correspondingly increase. If income decreases because of any reason, expenses will also decrease. The bottom line will always be 10,000. (I am using number of 10,000 for making it understandable; Rizq is not always denoted by a number as we will see later).
Suppose I try to supplement my income by taking a bribe of 50,000. This unlawful transaction will automatically create an expense of 50,000 because the level of profit for me (Rizq) is fixed. The expense can be in any shape; I might get sick and have to pay 50,000, or burglars might barge in my house and take away goods worth 50,000.
This calculation applies similarly to a decrease in income. What happens if a pick-pocket takes away my wallet, which had 5,000? This act will be a decrease in my disposable income. It will either result in a corresponding decrease in my expenses, or a substitute source of income will arise automatically. I might get a good bargain when buying clothes for my family and save 5,000, or I might be called to present a paper in a seminar for which I will receive 5,000, or it might a combination of both of these. The end result remains the same. My Rizq will always be the amount predetermined by the Almighty. My level of satisfaction will remain the same.
In any investment you have to take risk. The return may or may not be coming. This is not the case with Sadqah. Returns are guaranteed by the Almighty. You just have to wait for a while for the investment to mature, and will definitely get returns. This is Allah's promise. You cannot lose on this one.
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