{epub download} Financial Reporting for Islamic

Financial Reporting for Islamic Financial Institutions: Accounting Standards, Interpretation and Application by Abdul Rauf Mahar, Ayesha Bhatti, Muhammad Junaid Ashraf, Asfand Zubair Malik

• Financial Reporting for Islamic Financial Institutions: Accounting Standards, Interpretation and Application
• Abdul Rauf Mahar, Ayesha Bhatti, Muhammad Junaid Ashraf, Asfand Zubair Malik
• Page: 352
• Format: pdf, ePub, mobi, fb2
• ISBN: 9781032464039
• Publisher: Taylor & Francis

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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.

[PDF] SHOULD ISLAMIC ACCOUNTING STANDARD FOLLOW TO .
framework (presentation of financial statements of Islamic financial institutions). Financial reporting of Islamic Banks: Research Highlights. (2000) .
Islamic accounting - IAS Plus
Accounting Standards for financial reporting by Islamic financial institutions . Compiling a library of reference books, standards and industry reports .
[PDF] should islamic accounting standard follow to international financial .
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This book is an effort to explain the Islamic accounting principles and practices of Islamic financial institutions and juxtapose them to mainstream accounting .
Financial Reporting for Islamic Financial Institutions - Perlego
The book is an effort to explain the Islamic accounting principles and practices for Islamic Financial institutions and to juxtapose them to mainstream .
[PDF] The Need of Accounting Standards for Islamic Financial Institutions
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[PDF] ICPAU Financial Reporting Guidance for Islamic Banking Institutions .
The Guidance clarifies and sets minimum expectations in the application of the IFRS. Standards to Islamic finance transactions. It also aims to ensure adequate .
[PDF] Financial Reporting for Islamic Banking Institutions
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Financial Reporting for Islamic Financial Institutions: Accounting .
The book explains the Islamic accounting principles and practices for Islamic Financial institutions and juxtaposes them to mainstream .
Financial Reporting for Islamic Financial Institutions: Accounting .
Financial Reporting for Islamic Financial Institutions: Accounting Standards, Interpretation, and Application: by Abdul Rauf Mahar, Ayesha .

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