Islamic Accounting

Overview

This program is designed to help candidates with the requisite technical understanding and professional skills on accounting standards and financial reporting for international Islamic banks and other financial institutions, such as: Investment, Insurance and Brokerage companies.


Objectives

  • Objectives and concepts of financial accounting for international Islamic banks and financial institutions
  • Analysis of the composition of the Islamic instruments for proper accounting understanding and interpretation
  • Learning accounting rules and treatments issued by AAOIFI for international Islamic banking and finance transactions
  • General presentation and disclosure for financial statements of international Islamic banks and financial institutions
  • Application of Shari’ah from accounting view for international Islamic banking and finance products and services
  • Effective governance  and  Shari’ah  compliance  structures  in  international  Islamic  banks  and financial institutions.


Outline

  • Conceptual Framework for Financial Reporting
  • Presentation of the Financial Statements of Islamic Entities
  • Murabaha (Cost plus) and Murabaha to the Purchase Orderer
  • Mudaraba Financing (Silent Partnership)
  • Musharaka Financing (Equity Partnership)
  • Salam and Parallel Salam
  • Ijarah (Lease) and Ijarah Muntahia Bittamleek
  • Istisna’a (Construction) and Parallel Istisna’a
  • Provisions and Reserves
  • Takaful (Islamic Insurance)
  • Investment Funds
  • Deferred Payment Sale                                                                                    
  • Investment in Sukuk (Islamic Bonds)                               
  • Investment in Real Estate
  • Investment Accounts

Meeting Request