| Issue |
SHS Web Conf.
Volume 34, 2017
The 17th Annual Conference of the Asian Academic Accounting Association (2016 FourA Conference)
|
|
|---|---|---|
| Article Number | 07004 | |
| Number of page(s) | 9 | |
| Section | Financial Accounting and Reporting | |
| DOI | https://doi.org/10.1051/shsconf/20173407004 | |
| Published online | 14 February 2017 | |
A closer look at accounting for Islamic financial institutions
1 Senior Lecturer, Universiti Teknologi MARA, Kota Bharu, Kelantan
2 Professor, INCEIF, The Global University of Islamic Finance, Kuala Lumpur
This paper provides a discussion of a study that examines accounting in Islamic perspectives. The discussion includes an overview of the development of Islamic finance, accounting in Islamic perspectives, and four key accounting assumptions, namely ‘substance over form’, ‘time value of money’, ‘fair value’ measurement and ‘recognition based on probability’, which serve as important guides to preparers of financial information.
Key words: Islamic Accounting / Substance over Form / Financial Information / Fair Value / Time Value of Money
© The Authors, published by EDP Sciences, 2017
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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