Principles Of Islamic Accounting

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Principles of Islamic Accounting

Nabil Baydoun,Maliah Sulaiman,Roger J. Willett,Shahul Ibrahim
Principles of Islamic Accounting Book PDF

Author : Nabil Baydoun,Maliah Sulaiman,Roger J. Willett,Shahul Ibrahim
Publisher : John Wiley & Sons
Page : 310 pages
File Size : 44,8 Mb
Release : 2018-09-12
Category : Business & Economics
ISBN : 9781119023296

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Principles of Islamic Accounting by Nabil Baydoun,Maliah Sulaiman,Roger J. Willett,Shahul Ibrahim Pdf

Your introduction to Islamic accounting Principles of Islamic Accounting is the first and only text that covers the fundamentals of Islamic accounting in English. A comprehensive guide, this groundbreaking reference offers both insight into Islamic accounting best practices and disclosure for Shariah-compliant instruments. Covering everything from basic transaction analysis to the preparation of financial statements, this reference serves as a broad framework around which undergraduate students can build their understanding of the Islamic business environment by offering context and showcasing how Islamic values can influence the disclosure of financial information. Islamic accounting is becoming an increasingly important aspect of the business field as globalization results in a surge in business partnerships and transactions around the world. Today's students need to understand Islamic accounting principles in order to effectively work with professionals who adhere to these standards—and accessing this information via text in English was not possible until this revolutionary reference. Review the basics through an introduction to Islamic accounting Understand the recording process, and how to complete the accounting cycle and adjust accounts as necessary Explore accounting for assets, liabilities, equity, and sukuk, as well as zakat and takaful accounting Discover details regarding Islamic commercial law, accounting for Islamic financial institutions, and Islamic corporate governance and sustainability, and look at auditing from an Islamic perspective Principles of Islamic Accounting is an essential text for first-year university students who are studying Islamic accounting, as well as professional societies and organizations that support the use of Islamic accounting principles, such as The Islamic Finance Professionals Association.

Financial and Accounting Principles in Islamic Finance

Samir Alamad
Financial and Accounting Principles in Islamic Finance Book PDF

Author : Samir Alamad
Publisher : Springer
Page : 368 pages
File Size : 45,8 Mb
Release : 2019-05-10
Category : Business & Economics
ISBN : 9783030162993

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Financial and Accounting Principles in Islamic Finance by Samir Alamad Pdf

This book provides an original account detailing the origins and components of a faith-based accounting system that was founded around 629 CE. By examining the historical development that the accounting systems underwent within the context of faith-based rules and values, the book explains what is meant by the term “faith-based accounting”, together with a discussion of its characteristics in relation to various product structures and the underlying Islamic finance principles. It provides important theoretical and practical contributions by explaining accounting as a value-based science rather than a value-free object or abstract. This book explores the way in which religious rules act as a directive for accounting and auditing practices in IFIs. Through which the concept of money and digital currency within the theory of money and how it is enacted in a faith-based context, amid differences of opinions among its actors, is examined. This is an important foundation to explain Islamic accounting and includes how this outcome would shape the faith-based view regarding the new phenomenon of digital currency (DC). Also featured is the concept of paper money within the theory of money and how it is enacted in a faith-based legal framework by identifying two core concepts of today’s Fiat money as being a single genus or multi-genera money. This book is not merely an academic work, nor is it a pure practitioner guide; rather, it is a robust work that combines both. It marries rigorous academic research and theories with practical industry experiences. The book provides a clear and concise guide to accounting in Islamic economics and finance and how Islamic financial institutions could meet the applicable faith-based rules in their accounting practices.

Financial Reporting for Islamic Financial Institutions

Abdul Rauf Mahar,Ayesha Bhatti,Muhammad Junaid Ashraf,Asfand Zubair Malik
Financial Reporting for Islamic Financial Institutions Book PDF

Author : Abdul Rauf Mahar,Ayesha Bhatti,Muhammad Junaid Ashraf,Asfand Zubair Malik
Publisher : Taylor & Francis
Page : 359 pages
File Size : 51,7 Mb
Release : 2024-01-26
Category : Business & Economics
ISBN : 9781003837725

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Financial Reporting for Islamic Financial Institutions by Abdul Rauf Mahar,Ayesha Bhatti,Muhammad Junaid Ashraf,Asfand Zubair Malik Pdf

Mainstream accounting rules, namely International Financial Reporting Standards (IFRS), used in conventional banking, employ financial logics and principles which are at odds with Shariah and therefore unsuitable for reporting the results of Islamic banks. The book is an effort to explain the Islamic accounting principles and practices for Islamic Financial institutions and to juxtapose them to mainstream accounting principles in a simple and practical manner. The book begins with an overview of the Islamic Finance environment, the rationale for Islamic accounting and a brief introduction of AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions), the professional body responsible for the issuance of Islamic accounting standards. The main features of the AAOIFI Conceptual Framework and its comparison with IFRS framework are covered in Chapter 2. Chapters 3-9 cover the accounting treatment of the major Islamic finance products including trade-based (Murabaha, Salam and Istisna’a), rental-based (Ijarah) and risk-sharing based products (Mudarabah and Musharakah). Given the significance and complexity of Islamic bonds (Sukuk) for the Islamic finance industry, Chapter 10 discusses the basic accounting and reporting issues vis-à-vis Sukuk, leaving more complex issues for advanced texts on the topic. Zakah accounting (charity) and provisions and impairments are covered in Chapters 11 and 12. The chapters are arranged so that they start with a discussion of the product itself, followed by the AAOIFI accounting treatment and ending with the IFRS perspective. Each chapter begins with the learning objectives and a cover story and closes with a summary of the learning objectives. To facilitate the learning of readers, each chapter contains a glossary of the terms introduced as well as end of chapter multiple choice questions. In addition, each chapter includes practical insights and concept checks to enhance and test the understanding of the readers. This will be a useful guide for students, academics and practitioners concerned with the subject of financial reporting in Islamic Institutions.

Islamic Accounting And Finance: A Handbook

Khaled Hussainey,Hidaya Al Lawati
Islamic Accounting And Finance A Handbook Book PDF

Author : Khaled Hussainey,Hidaya Al Lawati
Publisher : World Scientific
Page : 882 pages
File Size : 50,6 Mb
Release : 2023-03-23
Category : Business & Economics
ISBN : 9781800612433

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Islamic Accounting And Finance: A Handbook by Khaled Hussainey,Hidaya Al Lawati Pdf

Islamic finance is one of the fastest-growing sectors in international banking and finance. Owing to the increasing availability and ease of access to Islamic services, Islamic finance has become increasingly important not only in Muslim countries, but around the world, making it a global industry. Under the Gulf Cooperation Council (GCC) as well as in some regions, such as the Middle East and North Africa, a dual financial system is implemented, where Sharia-compliant products are marketed alongside conventional financial systems.In this thoroughly researched collection of chapters, researchers from around the world examine the role of Islamic finance in the economies and prospects of different companies. They discuss Islamic finance literature from both theoretical and empirical perspectives. The theoretical section of the book consists of conceptual chapters that enable readers to critically evaluate and expand their understanding of accounting and finance. The chapters in the empirical section of this handbook discuss and interpret empirical evidence to provide clear implications for practice, research, and society. This section bridges the gap between theory and practice and offers suggestions for future research. Islamic Accounting and Finance is geared towards scholars and students, but it is also of use to banking and finance practitioners.

The Foundations of Islamic Banking

Mohamed Ariff,Munawar Iqbal
The Foundations of Islamic Banking Book PDF

Author : Mohamed Ariff,Munawar Iqbal
Publisher : Edward Elgar Publishing
Page : 297 pages
File Size : 50,7 Mb
Release : 2011-01-01
Category : Business & Economics
ISBN : 9781849807937

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The Foundations of Islamic Banking by Mohamed Ariff,Munawar Iqbal Pdf

After barely half a century of experience, Islamic banking has become established as a new niche industry across the world offering new and sophisticated financial products designed to be compliant with the principles of Islamic legal principles and common law. This comprehensive book explores the theory, principles and practices underpinning this rapidly expanding sector of banking. Expert contributors ¿ including eminent scholars and senior practitioners in the field ¿ examine the roots of the principles of ethical Islamic financial transactions, which have evolved over several millennia, on issuesincluding usury, interest rates, financial contracting for funding enterprises, for mortgages, for leasing and other financial transactions. Regulatory and governance issues are discussed, and the practice and operation of Islamicfinancial institutions are explained via three distinct case studies. Importantly, the final chapter looks at what steps are being taken to provide professional accreditation to Islamic banking professional personnel, and prescribes requirements for training in this growing industry.

Islamic Banking An Introduction to Islamic Accounting

Hanudin Amin,Abdul Rahim Abdul Rahman
Islamic Banking An Introduction to Islamic Accounting Book PDF

Author : Hanudin Amin,Abdul Rahim Abdul Rahman
Publisher : Universiti Malaysia Sabah Press
Page : 176 pages
File Size : 40,5 Mb
Release : 2016-10-04
Category : Business & Economics
ISBN : 9789672962663

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Islamic Banking An Introduction to Islamic Accounting by Hanudin Amin,Abdul Rahim Abdul Rahman Pdf

Author: Hanudin Amin, Abdul Rahim Abdul Rahman Year Published: 2016 ISBN: 978-967-0521-67-1 Islamic Banking: An Introduction to Islamic Accounting is written with the purpose of sensitizing readers to the need of accounting according to the al-Quran and Sunnah, Islamic accounting concepts, and accounting for Islamic financial transactions. The knowledge and skills gained from the course is able to add value to the students in order to prepare themselves for their career advancement. It is expected that, this topic of Islamic accounting will pave the way of disseminating the complete Islamic finance discipline to those students. Objectively, the book plans to communicate the pivotal contents of Islamic accounting both theoretically and practically. With these skills, the students are hoped to apply them into the real world once they have graduated. The book provides comprehensive coverage of Islamic accounting ranging from introduction, salam accounting to zakat accounting which are interesting to learn. The intended audience of the book are undergraduate and postgraduate students who love to learn Islamic banking not only from its concepts but also towards the applications of the concepts.

Islamic Accounting

Christopher Napier,Ros Haniffa
Islamic Accounting Book PDF

Author : Christopher Napier,Ros Haniffa
Publisher : Edward Elgar Publishing
Page : 0 pages
File Size : 54,6 Mb
Release : 2011
Category : Accounting
ISBN : 1848442203

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Islamic Accounting by Christopher Napier,Ros Haniffa Pdf

"This is the first ever compilation of leading articles in the field of Islamic accounting from the path defining contribution of Abdel-Majd in 1981 to the most important articles by Rifaat Ahmed Abdel Karim, founder of AAOIFI and former Secretary General of the IFSB. The collection is an essential purchase for all university libraries with Islamic finance collections as well as business schools where financial reporting is considered from different cultural perspectives. The editors are to be congratulated on their efforts.'

Principles of Islamic Finance

Hussein Elasrag
Principles of Islamic Finance Book PDF

Author : Hussein Elasrag
Publisher : Hussein Elasrag
Page : 156 pages
File Size : 53,6 Mb
Release : 2018-02-10
Category : Business & Economics
ISBN : 9788827567517

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Principles of Islamic Finance by Hussein Elasrag Pdf

This book tries to note the main principles of Islamic finance. In addition to discuss the Improvement can be made in several areas to promote and enhance the providing Islamic financial services.

Business and Accounting Ethics in Islam

Trevor Gambling,Rifaat Ahmed Abdel Karim
Business and Accounting Ethics in Islam Book PDF

Author : Trevor Gambling,Rifaat Ahmed Abdel Karim
Publisher : Burns & Oates
Page : 172 pages
File Size : 51,8 Mb
Release : 1991
Category : Business & Economics
ISBN : UOM:35128001301116

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Business and Accounting Ethics in Islam by Trevor Gambling,Rifaat Ahmed Abdel Karim Pdf

Professors of accounting--one British and one Kuwaiti--challenge western businessmen's assumed superiority over Arabic traders and hagglers. The reason, they say, that there is no clearly defined and generally accepted set of accounting principles in the west, is that there is no ethical basis for judging and recording transactions that are at least partly designed to deceive. Islam, they contend, provides such a basis, which does not require a belief in the religion to make use of. They show how the principles have been and are now applied. For academics and practicing accountants. Annotation copyrighted by Book News, Inc., Portland, OR

Islamic Finance

Hans Visser
Islamic Finance Book PDF

Author : Hans Visser
Publisher : Edward Elgar Publishing
Page : 296 pages
File Size : 45,5 Mb
Release : 2019-12-27
Category : Business & Economics
ISBN : 9781786433503

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Islamic Finance by Hans Visser Pdf

In this extensively updated third edition, Hans Visser explores the ideas and concepts that drive and shape Islamic finance. This incisive book reviews the products, institutions and markets offered by Islamic finance in the modern marketplace, offering a critical discussion of the ways in which fiscal and monetary policy can be adapted to Islamic financial institutions. Visser offers new directions for economics and finance students, as well as students of Islamic finance and Islam studies more broadly.

Islamic Finance

David Eisenberg
Islamic Finance Book PDF

Author : David Eisenberg
Publisher : OUP Oxford
Page : 470 pages
File Size : 51,9 Mb
Release : 2012-03-22
Category : Law
ISBN : 9780191630897

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Islamic Finance by David Eisenberg Pdf

This work is a practical and commercial guide to the fundamental principles of Islamic finance and their application to Islamic finance transactions. Islamic finance is a rapidly expanding, global industry and this book is designed to provide a practical treatment of the subject. It includes discussion and analysis of the negotiation and structure involved in Islamic finance transactions, with relevant case studies, structure diagrams and precedent material supporting the commentary throughout. An introductory section describes the theoretical background and explains the principles (and their sources) of Islamic law which underpin Islamic finance practices, providing an important backdrop to the work as a whole. The work also considers the role of Shariah supervisory boards, Islamic financial institutions and the relevance of accounting approaches. The work adopts an international perspective to reflect the pan-global nature of the industry and accepted practices, with the aim to bring together different schools of thought applied in international Islamic finance transactions. It also highlights any regional differences in accepted practice by reviewing the position in the Gulf states, Asia, the UK and Europe and the USA. The second part of the book concentrates on Islamic financial law in practice and begins with a section on financial techniques. This section explains the basic requirements for Islamic finance contracts both in terms of the underlying asset types and also both the applicability and acceptability of the underlying asset. There is a full discussion of the various types of contractual models such as Mudaraba (trustee finance), Musharaka (partnership or joint venture), Murabaha (sale of goods), and Sukuk (participation securities: coupons etc). The nascent area of Takaful (insurance) is also covered as are matters specific to the important field of project and asset finance.

Management of Islamic Finance

M. Kabir Hassan,Mamunur Rashid
Management of Islamic Finance Book PDF

Author : M. Kabir Hassan,Mamunur Rashid
Publisher : Emerald Group Publishing
Page : 264 pages
File Size : 51,6 Mb
Release : 2018-11-23
Category : Business & Economics
ISBN : 9781787564053

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Management of Islamic Finance by M. Kabir Hassan,Mamunur Rashid Pdf

In this issue, we have presented issues relevant to the most recent debate on the performance, practices, and principles of the Islamic finance industry as a whole, covering eleven distinct issues.

Understanding Islamic Finance

Muhammad Ayub
Understanding Islamic Finance Book PDF

Author : Muhammad Ayub
Publisher : John Wiley & Sons
Page : 871 pages
File Size : 47,5 Mb
Release : 2009-08-18
Category : Business & Economics
ISBN : 9780470687710

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Understanding Islamic Finance by Muhammad Ayub Pdf

In Understanding Islamic Finance Muhammad Ayub introduces all the essential elements of this growing market by providing an in-depth background to the subject and clear descriptions of all the major products and processes associated with Islamic finance. Key features include: Discussion of the principles of Islamic finance; Introduction to the key products and procedures that International Financial Institutions are using or may adopt to fund a variety of clients ensuring Sharī ́ah compliance; Discussion of the role Islamic finance can play in the development of the financial system and of economies; Practical and operational examples that cover deposit and fund management by banks involving financing of various sectors of the economy, risk management, accounting treatment, and working of Islamic financial markets and instruments. This book is not only an important text for all banks and financial institutions entering this particular market with a commitment to building Islamic financial solutions, but is also essential reading for undergraduate and postgraduate students of Islamic finance.

Understanding Islamic Finance

Hussein Elasrag
Understanding Islamic Finance Book PDF

Author : Hussein Elasrag
Publisher : Hussein Elasrag
Page : 110 pages
File Size : 44,8 Mb
Release : 2022-03-13
Category : Business & Economics
ISBN : 9785459527971

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Understanding Islamic Finance by Hussein Elasrag Pdf

As the Islamic finance industry develops further, there is a growing need for standardization and professionalism across the industry. Coupled with this is the importance of adopting robust corporate governance systems of internationally recognized standards incorporating transparent, fair and ethical working practices. Islamic financial institutions are well-placed in this context, since at the heart of Islamic law is a vision of social development which requires all individuals and businesses to conduct themselves ethically and in a socially responsible manner. This book focuses on the basic principles of Islamic finance. In addition to discuss the Improvement can be made in several areas to promote and enhance the providing Islamic financial services.

Accounting and Auditing Standards for Islamic Financial Institutions

Mohd Ma'Sum Billah
Accounting and Auditing Standards for Islamic Financial Institutions Book PDF

Author : Mohd Ma'Sum Billah
Publisher : Taylor & Francis
Page : 305 pages
File Size : 55,7 Mb
Release : 2021-11-29
Category : Business & Economics
ISBN : 9781000508994

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Accounting and Auditing Standards for Islamic Financial Institutions by Mohd Ma'Sum Billah Pdf

While accounting and audit functions are significantly regulated and standardized in conventional financial industries and activities, through the implementation of International Accounting Standards, and International Financial Reporting Standards, as well as other international, regional, and local regulations, this is not the case for Islamic financial organizations. Rather than having their own set of comprehensive accounting or auditing standards or policies, these are based, in some cases, on the Accounting and Auditing Organization for Islamic Financial Institutions (AAIOFI), the Islamic Financial Services Board (IFSB)’s standards and Shari’ah based local policies. This book is a timely and comprehensive overview of accounting and auditing standards within the doctrine of Shari’ah. It offers a significant contribution to the field and a wealth of technical know-how. It analyzes Islamic accounting and auditing both in theory and practice and from a distinctly international perspective. The chapters are arranged in a systematic and logical way making it easily accessible and engaging. The book evaluates the existing standards and widens the scope of the discourse to include Maqasid al-Shari’ah, Islamic accounting and audit models and standards, as well as, offering practical policy recommendations. The author presents a Shari’ah justified solution to Islamic Accounting and Audit and offers guidance on overcoming the challenges to implementing Islamic Accounting and Auditing Standards. The book is a unique and exhaustive guide and, as such, will be an invaluable resource for academics, researchers, students, policymakers, as well as, practitioners in accounting and auditing firms and financial institutions.