Graduate School of Business  Alexandria

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Accounting for Islamic Banks

  • Graduate School of Business |

Description

The course is targeting the basic differences of accounting principles that are used in Islamic Banks, the implications of the very wide and unique nature of Islamic modes of Finance and how all statements prepared accordingly. This course will introduce students to the differences between Islamic accounting principle versus GAAP and IFRS. It will introduce students to how to prepare financial statements of Islamic financial institutions.

Program

MBA

Objectives

  • The aim of this course is to introduce the elements of the Islamic banks and insurance companies accounting system, and how the accounting treatment for daily operations within Islamic banks and insurance companies, and how to prepare financial statements. Through this course, students will be able to: • Understand about Islamic Accounting (IA). • Understand the principles and concepts of Islamic accounting are taught in detail. • Learn the differences or similarities between these institutions and what is happening in conventional banks and insurance companies. • Compare both conventional accounting and Islamic accounting. • Think critically about the factors behind the emergence of IA and financial reporting and its impact on the Islamic finance.

Textbook

• Alamad, Samir, (2019); “Financial and Accounting Principles in Islamic Finance” Springer, Cham. • Dato’ Mahzan, Nurmazilah and Muazzam Mohamed, Mohd, (2020), “Accounting for Islamic Finance”, Malaysian Institute of Accountants.

Course Content

content serial Description
11. Principles and concepts of IA for Islamic financial institutions 2. The differences and similarities between Islamic banks and insurance companies
23. Understanding Accounting and auditing standards for Islamic financial institutions 4. The similarities and differences between Islamic accounting and conventional accounting
35. Accounting for operations of Musharakah and Mudarabah transactions in Islamic bank (Sales Contracts) 6. Accounting for operations of Murabahah and Ijarah transactions in Islamic bank
47. Accounting for operations of Salam and Istisnah transactions in Islamic bank 8. Accounting for operations of Takaful business transactions in Islamic bank (Insurance)
59. Accounting for operations of Zakah accounts in Islamic banks in Islamic bank 10. Present and analyze different types of financial statements in Islamic banks

Markets and Career

  • Generation, transmission, distribution and utilization of electrical power for public and private sectors to secure both continuous and emergency demands.
  • Electrical power feeding for civil and military marine and aviation utilities.
  • Electrical works in construction engineering.
Courses
  • Degree Master
  • Code: FIN792
  • Credit hrs: 3
  • Prequisites:
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