The IRMA Community
Newsletters
Research IRM
Click a keyword to search titles using our InfoSci-OnDemand powered search:
|
Financial Reporting of Islamic Financial Institutions: Comparative Analysis of AAOIFI and IFRS
Abstract
This chapter elucidates the arguments for and against differential approach pertaining to financial reporting amongst Islamic Financial Institutions (IFIs). The chapter has identified additional objectives which the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) aims to achieve in comparison to International Financial Reporting Standards (IFRS). The chapter has also identified the global adoption status for both AAOIFI Financial Accounting Standards (FAS) and IFRS Standards, as well as the difficulties faced in adopting AAOIFI's FAS. This chapter offers illustrative examples of AAOIFI's FAS and IFRS applications to help in providing a much better understanding in terms of similarities and differences in the application of these two sets of standards.
Related Content
V. V. Devi Prasad Kotni, Sujit Kumar Patra, Sunil Kumar.
© 2024.
21 pages.
|
Adekunle Alexander Balogun, Gbenga Olorunmade.
© 2024.
15 pages.
|
Ashwani Sharma, Nitpal Singh Rathod.
© 2024.
15 pages.
|
Peterson K. Ozili.
© 2024.
11 pages.
|
Yusuf Olatunji Oyedeko, Adesola Trust Gbadebo.
© 2024.
15 pages.
|
Oladapo Fepetu, Pelumi Abdulmalik Adewumi.
© 2024.
21 pages.
|
Rifkatu Nghargbu.
© 2024.
16 pages.
|
|
|