...ACCOUNTING THEORY (FAR 600) Teaching and Learning Arrangements (SEMESTER: SEPT 2013 – JAN. 2014) COURSE CODE : FAR 600 PROGRAM : BACHELOR OF ACCOUNTING (HONS) CREDIT HOURS : 3 CONTACT HOURS : 3 STATUS : CORE TEACHING LECTURER : Prof Dr Rohana Othman OFFICE & PHONE NO. : Room 419 (Off. Tel: 03-55444987) E-MAIL : rohana799@gmail.com SYNOPSIS This course is designed to further enhance the students’ understanding of the concepts and issues in accounting theory and practices. The course involves the study of the practical and theoretical issues involved in the development, implementation and changes in conceptual framework and regulatory framework. COURSE OUTCOME At the end of the course, students should be able to: 1. Discuss the various theories and paradigms in accounting. 2. Demonstrate an understanding on the concept of Islamic Accounting, the need for it and its differences to conventional accounting. 3. Evaluate the evolution of the conceptual framework and standard setting process, nationally and internationally. 4. Evaluate the relationship between accounting theories and framework to the practice in the real world. 5. Analyze the recognition, measurement and other current issues in financial reporting. COURSE OUTLINE |Week |Topic |Contact Hours |Learning...
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...of Economics, Management & Accounting 19, no. 1 (2011): 1-26 © 2011 by The International Islamic University Malaysia METHODOLOGY OF ISLAMIC ECONOMICS: OVERVIEW OF PRESENT STATE AND FUTURE DIRECTION* Mohamed Aslam Haneefa and Hafas Furqanib Department of Economics, International Islamic University Malaysia, Jalan Gombak, 53100 Kuala Lumpur, Malaysia. (Email: mdaslam@iiu. edu.my) b Department of Economics, International Islamic University Malaysia, Jalan Gombak, 53100 Kuala Lumpur, Malaysia. (Email: hafasf@gmail.com) a ABSTRACT This paper argues that research and publications in the area of methodology of Islamic economics is very significant for a meaningful development of the discipline. Although the discussion on methodology of Islamic economics in contemporary Islamic economics literature is rather limited, this paper reviews the works of selected scholars who have attempted to present works on ‘methodology’ and their approach to the process of theory building in Islamic economics. The paper then presents some implications of these views based on the position that methodology investigates the criteria, rationalizations, arguments and justifications used in theory appraisal as well as evaluating the reliability of theories, this paper concludes that greater resources, both human and financial, need to be channeled to developing uÎūl al-iqtiÎād, a fundamental, but vastly, neglected area of research in contemporary Islamic economics. JEL Classification:...
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...COURSE CODE : BKAF3083 COURSE : ACCOUNTING THEORY AND PRACTICE PRE-REQUISITE : BKAF3073 FINANCIAL ACCOUNTING AND REPORTING IV |Lecturer |Group |Room |Ext. |e-mail | |DR. DHIAA SHAMKI |C & F |3.07 |3740 |dhiaashamki@uum.edu.my | 1.0 SYNOPSIS This course is an advanced level course focusing on financial accounting theory; and as such, it differs from other accounting courses learnt previously. It is designed to further enhance students’ understanding of the concepts and issues in accounting theory and practices. This course involves the study of the practical and theoretical issues involved in the development, implementation and changes in accounting theories and regulatory framework. As this course will be seminal-like, this course will provide students with some generic skills required in the accounting profession such as team working, interaction, leadership, follower-ship, critical and creative thinking skills, decision making skills, analytical skills, communication skills as well as professional demeanor. 2.0 OBJECTIVES Upon completion of this course, students are expected: 2.1 to understand the principles, concepts and issues in accounting theory, financial accounting theory and reporting practices, 2...
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...“Islamic Accounting : Their Position in International Standard Harmonization” Rendy Anggita Putra “Islamic Accounting : Their Position in International Standard Harmonization” 1. Abstract According to (Susela, 1999) said the development of accounting theories is are affected by several factors including political and economic interests of certain people or group in community. Therefore, it can be also called if the accounting is a significant tool to illustrate the interests and perspectives of the various stakeholders. Islamic industry of finance has obtained tremendous growth in last few years, both in number of assets that manage by industry and in the diversity of financial products. A global system that can rule the industry will become significantly important for the Islamic finance sector in order to meet the needs of continued growth (Vinnicombe, 2012). Harmonization of Shari’a accounting standards has continue to be made by the AAOIFI as it is also done by the International Accounting Standards Board (IASB) for conventional accounting harmonization. In its development, financial reporting in Islamic accounting adds some different additional reports than conventional accounting to accommodate the unique transactions of Islamic economics. In that regard, this paper have objective to explore the main important values of Shari’a accounting and reporting standards of Islamic Accounting and try to find the answers of Islamic accounting positions among the process...
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...Vol. 1 No. 6 June 2013 SHARIAH GOVERNANCE FOR ISLAMIC CAPITAL MARKET: A STEP FORWARD Nawal Kasim Accounting Research Institute, Faculty of Accountancy UniversitiTeknologi MARA, Shah Alam, Malaysia Sheila Nu NuHtay Institute of Islamic Banking and Finance International Islamic University Malaysia, Gombak, Malaysia Syed Ahmed Salman PhD. Candidate and research assistant at Institute of Islamic Banking and Finance, International Islamic University Malaysia, Kuala Lumpur Sponsored or supported by: ARIHICoE Research Grant Abstract Since the last few decades, Islamic finance industry has developed tremendously penetrating not only the Muslim countries but surprisingly the non-Muslim countries as well. It has been acknowledged by the scholars on the need for this development to cater for the Islamic banking, Takaful and Islamic capital market industries. These three main industries are interrelated and dependent on each other in order to ensure that the whole Islamic financial system is in compliance with the Islamic principles. Among these three streams of the service industry, the Islamic capital market plays a crucial role to support the other two. Since Islamic banks and Takaful operators have to invest to provide the benefits to the investors and policy holders which are compatible with the conventional counterparts, the Islamic capital market is assumed to be the backbone for the two to survive and grow in the Islamic finance industry. Country such as Malaysia has issued...
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...disclosure by Islamic banks: evidence from Gulf Cooperation Council countries Abdullah Awadh Bukair and Azhar Abdul Rahman Abstract Corporate social activities have become major subjects because of their effects on the quality life of citizens, in particular, and on the society at large. Therefore, today, there is an increase awareness of social responsibility due to the challenges meeting the financial institutions (particularly, Islamic banking) around the world. This paper examines the influence of the board of directors’ characteristics, consisting of board size, board composition, and the separation roles of CEO and chairman, on corporate social responsibility (CSR) disclosure in 53 annual reports of Islamic banks of Gulf Cooperation Council (GCC) countries after controlling of bank size, financial performance and relevant public. Based on the framework of legitimacy theory, the findings show that CSR disclosure has a negative and insignificant relationship with board composition. On contrast, the study found insignificantly and positive association between CSR disclosure and other characteristics of board of directors (board size and the separation roles of CEO and chairman). With regards control variables, the study indicates that bank size and financial performance have a positive and significant influence on CSR disclosure, while relevant public has no effect. Therefore, the results indicate that corporate governance structure of board of directors within Islamic banks of...
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...PRACTITIONER CONTRIBUTION Toward applied Islamic business ethics: responsible halal business Muatasim Ismaeel UniKL Business School, University of Kuala Lumpur (UniKL), Kuala Lumpur, Malaysia, and 1090 Katharina Blaim Faculty of Business and Economics, University of Eichstaett/Ingolstadt, Ingolstadt, Germany Abstract Purpose – The purpose of this paper is to explore the opportunities of using halal regulation and certification as a mechanism for applying Islamic business ethics in contemporary world. Design/methodology/approach – The current practices of halal regulation and certification and literature on Islamic ethics were reviewed, to identify a practical approach for Islamic business ethics. Findings – Islam allows and accepts different levels of ethical commitment. A multi-level Islamic ethics framework and a multi-level halal certification approach are proposed to facilitate the implementation of Islamic business ethics in a relative context. Two major developments can enrich halal business practices: harmonization of global standards and governance structure, and integrating responsibility and ethical issues in halal standards. Practical implications – The proposed framework and developments can enrich halal regulation and certification practice. Originality/value – The paper emphasizes the importance of flexibility and adaptability in Islamic business ethics implementation, and proposes a new framework and approach to apply Islamic business ethics. Keywords Islam,...
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...International Islamic University Malaysia ETHICS IN ACCOUNTING EDUCATION: CONTRIBUTION OF THE ISLAMIC PRINCIPLE OF MAêLAîAH Abdul Rahim Abdul Rahman Assistant Professor, Department of Accounting, Kulliyyah of Economics and Management Sciences, International Islamic University Malaysia, Jalan Gombak, 53100 Kuala Lumpur, Malaysia. (e-mail: abdulrahim@iiu.edu.my) ABSTRACT There is a growing concern over the apparently low moral standards of some accountants and an increasing number of academics who suggest that the education system should bear some of the blame. Ethical components in accounting education have been found to be insufficient and there is a lack of emphasis on humanizing accountants. The objective of this paper is firstly to address the importance of ethics in accounting education and evaluate the development of literature in this area. Secondly, the paper argues for the direction of accounting education to focus on religious ethical development and values in developing accounting ethics. The paper argues that the Islamic worldview and ethics perspective can provide some insights into the process of developing a more humanized and ethical accountant. This paper proposes the Islamic legal principle of ma§laúah as an ethical filtering mechanism to be taught as part of the ethical accounting education process. This is aimed at providing awareness to accounting students and accountants on the process to resolve ethical conflicts. The study of Islamic worldview...
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... Academic Load 14 Credit Exemption and Transfer 15 Grading System 16 Academic Standing 17 Deferment, Suspension and Termination 18 2 ACADEMIC GUIDELINES ACADEMIC PROGRAMMES MASTER OF BUSINESS ADMINISTRATION (MBA) 20 21 Introduction MBA Course Structure Programme Specifications and Learning Outcomes 23 Course Synopsis 26 21 DOCTOR OF BUSINESS ADMINISTRATION (DBA) Programme Specifications and Learning Outcomes DBA Course Structure 38 41 OTHER INFORMATION REFERENCES UTM IBS Postgraduate Student Society (PGSS) 42 43 3 ACADEMIC GUIDELINES OVERVIEW / BACKGROUND OF UTM The main campus of Universiti Teknologi Malaysia (UTM) is located in a strategic area of 1,177 hectares in the Iskandar Development Region, Johor.UTM has another campus known as the UTM Kuala Lumpur, Jalan Semarak with an area of 18 hectares. The history of UTM began in 1904 as a Treacher Techical School and was later upgraded to a Technical School in 1906. In 1942 the Technical School was upgraded to a TechicalCollege located at High Street (now known as Jalan Bandar) before moving to Jalan Gurney (now known as Jalan Semarak). In 1972 the Technical College became the National Institute of Technology (ITK). On 1 April 1975, it became a university known as Universiti Teknologi Malaysia. PHILOSOPHY OF UTM...
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...ACCOUNTING PROCEDURES AND RECORDING PROCEDURES IN THE EARLY ISLAMIC STATE OMAR ABDULLAH ZAID UNIVERSITY OF BAHRAIN ACCOUNTING HISTORIANS JOURNAL VOL 31, NO 2 Abstract: Despite advances in historical knowledge the precise origins of accounting systems and recording procedures remain uncertain. Recently discovered writings suggest that accounting has played a very important role in various sections of Muslim society since 624 A.D. This paper argues that the accounting systems and recording procedures practiced in Muslim society commenced before the invention of the Arabic numerals in response to religious requirements, especially zakat, a mandatory religious levy imposed on Muslims in the year 2 H. INTRODUCTION In an influential contribution Parker [2000] wrote that "the writing of accounting history is increasingly dominated by writers in English discussing private-sector accounting in English-speaking countries of the 19th and 20th centuries ... the scope of accounting history is much wider than this" [p. 66]. This paper seeks to further advance our increasing knowledge of the history of accounting outside English-speaking countries in periods earlier than the modern era. It also contests de Ste. Croix's claim [1981, p. 114] that "there seems to have been no really efficient method of accounting, by double or even single entry, before the thirteenth century". Analysis of medieval bookkeeping systems in Muslim society throws doubt on this assertion. The paper seeks to...
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...| | |INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA | |COURSE OUTLINE | | | |Kulliyyah / Institute |Kulliyyah of Economics and Management Sciences | |Department / Centre |Department of Business Administration | |Programme |Bachelor of Business Administration | |Name of Course / Mode |Strategic Management | |Course Code | | | |MGT 4760 | |Name (s) of Academic staff / | ...
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...Islamic Banking: Answers to Some Frequently Asked Questions 9 ISLAMIC DEVELOPMENT BANK ISLAMIC RESEARCH AND TRAINING INSTITUTE ISLAMIC BANKING: ANSWERS TO SOME FREQUENTLY ASKED QUESTIONS Mabid Ali Al-Jarhi and Munawar Iqbal Occasional Paper No.4 1422H 2001 Mabid Al-Jarhi and Munawar Iqbal 10 Islamic Banking: Answers to Some Frequently Asked Questions 11Mabid Al-Jarhi and Munawar Iqbal 12 Islamic Banking: Answers to Some Frequently Asked Questions 13 FOREWORD In the last quarter of a century, there has been a great interest in the Islamic banking system both at private and public levels. There is an earnest and widespread desire to understand the system. Academicians, bankers and general public, all, have some genuine questions and concerns. Policy makers in the monetary and financial sectors of the IDB member countries have also often asked the Islamic Research and Training Institute (IRTI) some basic questions of theoretical and practical importance about the elimination of interest from the national economies of Muslim countries and the transformation of the prevailing conventional system to an Islamic one. Some of these questions reflect a desire to understand the basic concepts of Islamic finance while others relate to the creation of an enabling environment through macroeconomic reform and structural adjustments that are needed to establish the Islamic financial system and the complications that arise when an effort is made to bring about the transformation...
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...CURRICULUM OF BUSINESS ADMINISTRATION FOR BBA, BBS, MBA & MS HIG HER EDUC ATIO N CO MM ISSION (2012) HIGHER EDUCATION COMMISSION ISLAMABAD 1 CURRICULUM DIVISION, HEC Prof. Dr. Syed Sohail H. Naqvi Mr. Muhammad Javed Khan Malik Arshad Mahmood Dr. M. Tahir Ali Shah Mr. Farrukh Raza Mr. Abdul Fatah Bhatti Executive Director Adviser (Academics) Director (Curri) Deputy Director (Curri) Asstt. Director (Curri) Asstt. Director (Curri) Composed by: Mr. Zulfiqar Ali, HEC, Islamabad 2 CONTENTS 1. Introduction……………………………………...........6 2. BBA Programme....................................................11 a. Structure of BBA Programme..……………....12 b. Layout for BBA Programme..........................13 c. Semester-wise Breakup for BBA…...............14 3. Bachelor of Business Studies (BBS)......................15 4. MBA Programme....................................................16 a. Structure of MBA Programme........................17 b. Semester-wise Breakup for MBA...................19 5. MS in Management Sciences................................20 a. Structure of MS Programme...........................20 b. Eligibility for Non-business Degree Holders...21 6. Roadmap for Business Education…………............24 7. BBA Course outlines...............................................25 a. Compulsory Courses for BBA...…….…..........25 b. Foundation Core Courses...........…....…....... 41 c. Major Core Courses........................................59 d. Major...
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...1 KHYBER PAKHTUNKHWA PUBLIC SERVICE COMMISSION SYLLABUS FOR PROVINCIAL MANAGEMENT SERVICE COMPETITIVE EXAMINATION The Syllabus and standard for the Competitive Examination for the Provincial Management Service shall be as under : 1. The Examination shall include compulsory and optional subjects, and every candidate shall take all the compulsory subjects and opt for three of the optional subjects carrying 600 marks in all but not more than 200 marks from a single group. 2. A candidate shall answer the language papers in the language concerned. The question paper in Islamiat is to be answered in Urdu or English. All other papers must be answered in English. Violation of this instruction shall incur cancellation of the concerned paper(s) and consequently award of Zero. 3. The compulsory and optional subjects and maximum marks fixed for each subject shall be as below: Sr. No. 1 2 3 COMPULSORY SUBJECTS Subjects English (Précis & Composition) English Essay General Knowledge (a) Current Affairs 100 (b) Every Day Science 100 (c) Pakistan Affairs 100 Islamiat Viva Voce Total Maximum Marks 100 100 300 100 300 900 600 120 4 5 Qualifying marks in the aggregate of written papers: Qualifying marks in the Viva Voce: The non-Muslim candidates will have the option to take Islamiat as a compulsory subject or otherwise Pakistan Affairs (General Knowledge PaperIII) will be treated of 200 marks and counted in lieu of Islamiat. A candidate who fails to appear in any of the compulsory...
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... conventional banks and Islamic banks. In simple words Islamic banks operate in interest free system. Prohibition of interest is ordained in Islam in all forms and intent. This Prohibition is strict, absolute and unambiguous. The Holy Qur'an in verse 278 of Surah Al-Baqarah states: "O ye who believe! Fear Allah and give up what remains of your demand for Riba, if ye are indeed believers." Verse 2: 279 says: "If you do it not, take notice of war from Allah and His Messenger. But if ye turn back, ye shall have your capital sums. Deal not unjustly and you shall not be dealt with unjustly." It therefore, follows that interest is prohibited as it leads to injustices and Islam is against all forms of injustices and exploitations and pleads an economic system, which aims at securing extensive socio-economic justice. The Islamic law of prohibition of Riba, which includes interest, was originally not based on economic theory but on Divine Authority, which considers the charging of interest as an act of injustice (Dr. Siddiqui). Islamic banks appeared on the world scene as active players two decades ago. But many of the principles on which Islamic banking is based have been commonly acceptable all over the world for centuries rather than decades, as it is evident that Islamic finance was practiced predominantly in the Muslim world throughout the middle Ages, promoting trade and business activities. In Spain and the Mediterranean and Baltic States, Islamic merchants became...
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