Accounting Standards relating to Islamic Finance

This course provides an in-depth understanding of accounting standards pertinent to Islamic finance. It explores the principles, concepts, and practices that govern financial reporting in Islamic financial institutions. Topics covered include Shariah-compliant accounting principles, the structure of Islamic financial instruments, accounting treatment for Mudarabah, Musharakah, Murabahah, and other Islamic contracts, and the application of International Financial Reporting Standards (IFRS) within the framework of Islamic finance.

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Students will also examine the challenges and complexities in applying accounting standards to Islamic financial transactions, along with emerging trends and developments in this field. Through case studies and practical examples, students will develop the necessary skills to navigate the accounting landscape of Islamic finance effectively.