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Financial reporting of intangible assets in Islamic finance

Syed Jaafar Alhabshi, Syed Musa and Ab Rashid, Hafiz-Majdi and Syed Agil, Sharifah Khadijah and Ahmed, Mezbah Uddin (2017) Financial reporting of intangible assets in Islamic finance. ISRA International Journal of Islamic Finance, 9 (2). pp. 190-195. ISSN 0128-1976

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Purpose – This paper aims to address the financial reporting dimensions of intangible assets with specific reference to International Accounting Standards (IAS) 38 as well as relevant International Financial Reporting Standards (IAS 38 exclusion) that are embedded within intangible assets. These have implications for Islamic financial assets with identifiable and measurable intangible components. Design/methodology/approach – The study uses the qualitative research method by way of interviews followed by focus group discussions with professional accountants/accounting academics and Sharīʿah scholars/advisors from academia, the industry and regulatory bodies. Analysis of relevant literature is made to understand the subject matter and Sharīʿah-related issues. Findings – The study observes that the accounting dimensions of tangible assets are generally consistent with Sharīʿah requirements. However, significant variation arises when the dimensions of intangible assets are represented in financial assets. Research limitations/implications – The paper presents an exploratory in-depth analysis within the context of intangible assets as specified in IAS 38. Originality/value – The paper elucidates the comparative accounting dimensions and Sharīʿah requirements in reporting financial assets.

Item Type: Article (Journal)
Additional Information: 6867/68327
Uncontrolled Keywords: Financial reporting, intangible assets, Islamic finance, financial assets
Subjects: H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
H Social Sciences > HG Finance > HG4001 Financial management. Business finance. Corporation finance.
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Institute of Islamic Banking & Finance (IIiBF)
Kulliyyah of Economics and Management Sciences > Department of Accounting
Depositing User: Dr Syed Musa Alhabshi
Date Deposited: 06 Dec 2018 14:42
Last Modified: 06 Dec 2018 14:42
URI: http://irep.iium.edu.my/id/eprint/68327

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