This course aims at engaging the participants with the principles of accounting and finance relevant to Shariah advisory role in Islamic financial institutions, namely Islamic banks and Takaful operators. For the accounting aspect, the content of the course exposes the participants on the fundamentals of reporting in Islamic financial institutions as well as on the pertinent MFRS standard relevant to Islamic financial operations. In addition, the participants will be exposed to accounting and reporting approach adopted by international standards, namely IFRS and AAOIFI standards. The participants will be able to read financial information to evaluate the performance of Islamic financial institutions. As for the finance coverage, the course exposes the participants on the role and objectives of financial intermediaries.
Objectives
- Explain the role and objectives of Islamic financial institutions in the Islamic financial system.
- Describe the underlying principles in Conceptual Framework for financial reporting.
- To discuss the main elements of financial statements for Islamic financial institutions relevant to the MFRS standards.
- To describe the main elements of financial statements as per AAOIFI’s standards
- To analyse the financial ratios adopted in financial statement analysis
- To discuss the requirement for zakat computation, recognition, presentation and disclosure in IFIs’ financial statements.
Module Developers
Prof. Dr. Zurina Shafii
PhD (Durham), MIF (Durham), BAcc (UITM)
Mrs. Nurazalia Zakaria
MSc Acc (IIUM), B Commerce and Management (Lincoln)
