[PDF] Top 20 A closer look at accounting for Islamic financial institutions

... 3 FINANCIAL REPORTING FOR ISLAMIC FINANCIAL INSTITUTIONS The emergence and growth of Shariah business in the modern economy has led to the rise of accounting from the Islamic ... See full document

... Since, Islamic Financial Institutions have differences objectives and principles as compared to conventional ...specifically accounting for Islamic ...instance, accounting for ... See full document

... local accounting standards for conventional and Islamic financial institutions named SAK (Standar Akuntansi Keuangan or Generally Accepted Accounting Standard) which may raise the ... See full document

... study suggesting 70% of future jobs will require advanced training beyond high school. • 86% of all jobs in the survey required more than a high school education to start[r] ... See full document

... Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see ... See full document

... 3. Research Method This paper discusses the views of 7 interviewees gathered from 7 semi-structured interviews conducted during the period of three months from October 2012 to December 2012. The seven interviewees who ... See full document

... Prescribed Accounting Treatment The main requirements of IAS 8 include: • accounting policies are determined by applying the IFRS that addresses a specific issue • in the absence of an IFRS, the development ... See full document

... The financial statements of a defined contribution plan shall contain a statement of net assets available for benefits and a description of the funding policy. Under a defined contributi on plan, the amount of a ... See full document

... Definition of a government grant A government grant is defined in IAS 20 as a transfer of resources “in return for past or future compliance with certain conditions relating to the operating activities of the entity”. ... See full document

... In the following text I hope to increase my reader’s knowledge of some aspects of my work, how I consider it, and how I have arrived at what I am currently making. I will be focusing on what I consider my main body of ... See full document

... US Financial Accounting Standards Board (FASB) to review and harmonise the presentation of financial ...in financial statements and the IASB expects to publish a discussion paper on the ... See full document

... the accounting policies used for the financial statements prepared in accordance with IFRS, including consolidation ...such accounting policies, in which case it will need to be ...of ... See full document

... suitable accounting policy choice may not be clear without a detailed analysis of the requirements specific to an ...suitable accounting policy for all such ...International Accounting Standards ... See full document

... an Islamic system, they must have the additional qualification of being well-versed in the shari‘a and its objectives and in particular the rationale behind the prohibition of ...proper accounting ... See full document

... The Islamic financial system is founded on the absolute prohibition of the payment or receipt of any predetermined, guaranteed rate of ...Modern Islamic finance has existed internationally since the ... See full document

... the institutions that play a crucial role in disciplining markets and ensuring efficiency and integrity are not well-developed in these ...and accounting practices are not well ...of financial ... See full document

... the Islamic finance industry attracted more and more countries and the public interest grew all over the world, central banks and regulatory authorities in these countries began to call for regulations and ... See full document

... International Accounting Standard (IAS) 27, Consolidated and Separate Financial Statements, provides guidance on the preparation and presentation of consolidated financial statements for a group of ... See full document

... and Islamic financial institutions ...US financial system to help fund terrorism and other ...implicating Islamic financial institutions with terrorist financing are ... See full document

... raises Islamic financial institutions‟ exposure to counter-party risks arising from the unsettled nature of contracts, and may lead to potential litigation problems (Mulyawan, ...in financial ... See full document