Zakat Accounting and Islamic Finance
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About This Course
This specialized course covers the principles and practices of Zakat accounting and Islamic finance, essential knowledge for professionals working in the GCC region and the broader Islamic finance industry. With Islamic finance assets exceeding $3 trillion globally, understanding these principles is increasingly important.
The Zakat accounting section covers the religious and legal foundations of Zakat, different calculation methods including the net assets method and the net invested funds method, Zakat on various types of assets and income, and the accounting entries and disclosures required for Zakat. Practical examples demonstrate Zakat calculation for trading companies, manufacturing firms, and service businesses.
The Islamic finance section covers the core Sharia principles governing financial transactions, including the prohibition of Riba (interest), Gharar (uncertainty), and Maysir (gambling). You will learn the accounting treatment for major Islamic finance products including Murabaha, Mudaraba, Musharaka, Ijara, Istisna, Salam, and Sukuk.
The course covers AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) standards and how they differ from conventional IFRS. You will learn how to prepare financial statements for Islamic banks, Takaful companies, and Islamic investment funds. The course also addresses the Sharia governance framework and the role of Sharia supervisory boards in Islamic financial institutions.
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Curriculum Overview
This course includes 4 modules, 0 lessons, and 0 hours of materials.
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