Principles Of Islamic Accounting

This book examines the legal and the accounting process from basic transaction analysis through to the preparation of financial statements. A broad framework for financial statements is used, encompassing international standards and Islamic financial accounting standards. It provides a context for understanding what is “Islamic accounting” and allows students to appreciate how Islamic values can influence the disclosure of financial information. The practicalities of preparing financial statements in accordance with the Islamic Shariah are covered, along with specific aspects of Islamic finance and how to account for Shariah compliant instruments. It provides students with skills to understand and prepare accounting information relevant to decision making in an Islamic environment through real life examples and cases.
Tentative Table of contents:
‧ Introduction to Islamic Accounting
‧ The Recording Process
‧ Adjusting the Accounts
‧ Completing the Accounting Cycle
‧ Accounting for Assets
‧ Accounting for Liabilities
‧ Accounting for Equity
‧ Accounting for Sukuk
‧ Zakat Accounting
‧ Takaful Accounting
‧ Islamic Commercial Law
‧ Accounting for Islamic Financial Institutions
‧ Islamic Corporate Governance and Sustainability
‧ Auditing: an Islamic Perspective

Nabil Baydoun (United Arab Emirates) is Assistant Chancellor of the Learners & Enterprise Development at Hamdan Bin Mohammed e-University. Prior to joining HBMeU, Nabil held the Professorship of Accounting and Finance at the University of Wollongong in Dubai and was the Dean of Dubai Business School. Nabil is internationally experienced in financial management, accounting, startups, restructuring and strategic planning. He formulated and implemented strategies for long term profitability and stability and accomplished senior executive backgrounds in several large organizations in Hong Kong, New Zealand, Australia, Lebanon and the UAE.Maliah Sulaiman (Malaysia) is an Accounting professor at International Islamic University Malaysia (IIUM). He previously served as Visiting Academic at the College of Business and Management University of Sharjah in United Arab Emirates. He has also presented at several conferences in the U.S., Malaysia, Australia, South Africa, Dubai, Iran and Romania.Shahul Hameed bin Mohamed Ibrahim (Malaysia) is an Associate Professor at International Centre For Education In Islamic Finance (INCEIF). He previously worked as Assistant Professor and Head of Department of Accounting at International Islamic University Malaysia before joining INCEIF. Aside from being a Chartered Accountant (Malaysia) and a Fellow of the Association of Chartered Certified Accountants (UK), he is also a Chartered Islamic Finance Professional (CIFP). Shahul has published a number of journal articles, conference papers and delivered talks in Malaysia, Indonesia, Philippines and India. He is also the author of the first text book on Islamic accounting.Roger John Willett is a professor at the Tasmanian School of Business & Economics at the University of Tasmania.