Accounting for Islamic Financial Transactions

·       Islamic Economic principles relevant to Islamic finance

·       The meaning and concept of Riba, Gharar and Maisir

·       The modus operandi of Islamic financial institutions

·       Accounting implications

·       Difference between conventional and Islamic accounting

·       The need for and development of Islamic accounting

·       The regulatory and governance framework

·       The objectives of financial accounting for IFIs

·       Nature of Mudaraba contracts

·       Mudaraba Financing

·       Accounting for Mudaraba

·       Presentation and disclosure of Mudaraba

·       Nature of Musharakah contract

·       Musharakah Financing and Investment principles

·       Accounting for Musharakah

·       Presentation and disclosure of Musharakah

·       Nature of Murabaha contract

·       Murabaha Financing Principles

·       Bai Bithamin Ajil

·       Accounting for Murabaha

·       Presentation and Disclosure of Murabaha

·       Nature of Salam and Istisna’ contracts

·       Salam financing principles

·       Istisna’ financing principles

·       Accounting for Salam and Istisna’

·       Presentation and Disclosure of Salam and Istisna’

·       Nature of Ijarah contract

·       Ijarah financing principles

·       Accounting for Ijarah

·       Presentation and disclosure

·       AITAB

·       Nature of Mudaraba deposits

·       Mudaraba Deposit Principles

·       FAS 5: Profit allocation, FAS 11: Provision and reserves and FAS 6: Equity of Investment account holders

·       Accounting for Mudaraba

·       Presentation and disclosure