CHECK THESE SAMPLES OF Islamic Accounting: Ijarah Contract
10 Pages
(2500 words)
Essay
Similarities and Differences between ijarah contract and Leasing 4.... islamic accounting Table of Contents 1.... The distinguishing feature of Ijarah as an operating lease is that the lease contract is not associated with a purchase agreement.... The following are some of the features of Ijarah as an operating lease: The whole price of the asset, or the part of property specified in the contract is not amortized through the main leasing tenure....
10 Pages
(2500 words)
Essay
Islamic Accounting Table of Contents Introduction 3 Ijarah 3 Usage of ijarah contract in Islamic Financial Institutions 4 Similarities and Differences Between Conventional and Ijarah Leasing 6 Accounting Treatments for Ijarah 8 AAOIFI Standards and IFRS for ijarah contract 8 Conclusion 9 Introduction Islamic Banking involves a banking system that follows the ways of Islam.... In Islamic banking, the bank and the customers are involved in the lending contract....
9 Pages
(2250 words)
Essay
Harmonization of the manner in which various items are treated in the accounting system allows for comparability.... IFRS and accounting, and Auditing Organization of Islamic Financial Institutions (AAOIFI) were founded based on establishing a unified way of reporting the financial transactions across all the sectors.... On the other hand, IFRS was enacted to harmonize the universal accounting procedures and processes into a harmonized system....
9 Pages
(2250 words)
Essay
This assignment "islamic accounting: Ijarah Contracts" discusses the AAOIFI standards that are accounting standards developed for Islamic firms that want to be sharia-compliant.... In the first phase of the contract, there will be an agreement with regard to how long the lease period will last (Karim, 2010).... nce the period of the lease is over and the customer has paid all the lease charges, the first contract ends the second contract, or the second phase of the ijarah kicks in....
10 Pages
(2500 words)
Assignment
According to the fact that Islamic countries cannot be disconnected with their religion ijarah contract has gained the permission of the Shari'ah due to several authorities(Nizram):
... From the view of the Islamic banking system Ijarah is referred to Islamic contract of leasing of property and equipment, of land to be leased to a client for rental payments or stream payments.... From the view of Islamic banking system Ijarah is referred to a certain leasing contract of property and equipment or land which is leased to a client for rental or stream payment(Open to comparison)....
10 Pages
(2500 words)
Assignment
This paper "islamic accounting" discusses the conventional mode of accounting as at times much contrasted as compared to that advised by the Islamic principles known as the Shariah and due to that contrasting nature, the accounting has been redefined by the Muslim scholars.... For example, the conventional insurance is redefined as Takaful, the partnership is now given the name of Musharika in Shariah-based accounting and the conventional leases have been given the identity of ijarah....
7 Pages
(1750 words)
Case Study
The paper "Islamic Financial Institutions " is an outstanding example of a finance and accounting literature review.... The paper "Islamic Financial Institutions " is an outstanding example of a finance and accounting literature review.... The International Financial Reporting Standards( IFRS) should also consider ways for making assimilating the accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards into its broad system....
13 Pages
(3250 words)
Literature review