A Zakat Accounting Standard (ZAS) for Malaysian companies

Abu Bakar, Nur Barizah (2007) A Zakat Accounting Standard (ZAS) for Malaysian companies. American Journal of Islamic Social Sciences, 24 (4). pp. 74-92. ISSN 0742-6763

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Abstract

This paper focuses on the need to harmonize the practice of zakat on companies throughout Malaysia by implementing a zakat accounting standard (ZAS). The objectives of this paper are fourfold: (1) to highlight the current practice of zakat on companies in Malaysia; (2) discuss the usefulness of AAOIFI FAS 9, MASB FRS i-1, and MASB TR i-1 as guidelines for developing a ZAS; (3) suggest a collaboration by various parties designed to pool initiatives, knowledge, and skills to develop a useful and favorable ZAS; and (4) to demonstrate that without proper education and a strong political will, there is a little hope of making any ZAS a reality.

Item Type:	Article (Journal)
Additional Information:	6992/33857
Uncontrolled Keywords:	Zakat Accounting Standard, Malaysia
Subjects:	H Social Sciences > HF Commerce > HF5001 Business. Business Administration > HF5601 Accounting. Bookkeeping
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Accounting
Depositing User:	DR. NUR BARIZAH ABU BAKAR
Date Deposited:	07 Jan 2014 15:23
Last Modified:	07 Jan 2014 15:23
URI:	http://irep.iium.edu.my/id/eprint/33857

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