Accounting And Auditing Standards For Islamic Financial Institutions

Download Accounting And Auditing Standards For Islamic Financial Institutions full books in PDF, epub, and Kindle. Read online Accounting And Auditing Standards For Islamic Financial Institutions ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

Accounting and Auditing Standards for Islamic Financial Institutions

Author : Mohd Ma'Sum Billah
Publisher : Taylor & Francis
ISBN 13 : 1000508994
Total Pages : 305 pages
Book Rating : 4.0/5 (5 download)

DOWNLOAD NOW!

Book Synopsis Accounting and Auditing Standards for Islamic Financial Institutions by : Mohd Ma'Sum Billah

Download or read book Accounting and Auditing Standards for Islamic Financial Institutions written by Mohd Ma'Sum Billah and published by Taylor & Francis. This book was released on 2021-11-29 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: While accounting and audit functions are significantly regulated and standardized in conventional financial industries and activities, through the implementation of International Accounting Standards, and International Financial Reporting Standards, as well as other international, regional, and local regulations, this is not the case for Islamic financial organizations. Rather than having their own set of comprehensive accounting or auditing standards or policies, these are based, in some cases, on the Accounting and Auditing Organization for Islamic Financial Institutions (AAIOFI), the Islamic Financial Services Board (IFSB)’s standards and Shari’ah based local policies. This book is a timely and comprehensive overview of accounting and auditing standards within the doctrine of Shari’ah. It offers a significant contribution to the field and a wealth of technical know-how. It analyzes Islamic accounting and auditing both in theory and practice and from a distinctly international perspective. The chapters are arranged in a systematic and logical way making it easily accessible and engaging. The book evaluates the existing standards and widens the scope of the discourse to include Maqasid al-Shari’ah, Islamic accounting and audit models and standards, as well as, offering practical policy recommendations. The author presents a Shari’ah justified solution to Islamic Accounting and Audit and offers guidance on overcoming the challenges to implementing Islamic Accounting and Auditing Standards. The book is a unique and exhaustive guide and, as such, will be an invaluable resource for academics, researchers, students, policymakers, as well as, practitioners in accounting and auditing firms and financial institutions.

Accounting and Auditing Standards for Islamic Financial Institutions

Author : Mohd Ma'Sum Billah
Publisher : Routledge
ISBN 13 : 1000509044
Total Pages : 304 pages
Book Rating : 4.0/5 (5 download)

DOWNLOAD NOW!

Book Synopsis Accounting and Auditing Standards for Islamic Financial Institutions by : Mohd Ma'Sum Billah

Download or read book Accounting and Auditing Standards for Islamic Financial Institutions written by Mohd Ma'Sum Billah and published by Routledge. This book was released on 2021-11-30 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: While accounting and audit functions are significantly regulated and standardized in conventional financial industries and activities, through the implementation of International Accounting Standards, and International Financial Reporting Standards, as well as other international, regional, and local regulations, this is not the case for Islamic financial organizations. Rather than having their own set of comprehensive accounting or auditing standards or policies, these are based, in some cases, on the Accounting and Auditing Organization for Islamic Financial Institutions (AAIOFI), the Islamic Financial Services Board (IFSB)’s standards and Shari’ah based local policies. This book is a timely and comprehensive overview of accounting and auditing standards within the doctrine of Shari’ah. It offers a significant contribution to the field and a wealth of technical know-how. It analyzes Islamic accounting and auditing both in theory and practice and from a distinctly international perspective. The chapters are arranged in a systematic and logical way making it easily accessible and engaging. The book evaluates the existing standards and widens the scope of the discourse to include Maqasid al-Shari’ah, Islamic accounting and audit models and standards, as well as, offering practical policy recommendations. The author presents a Shari’ah justified solution to Islamic Accounting and Audit and offers guidance on overcoming the challenges to implementing Islamic Accounting and Auditing Standards. The book is a unique and exhaustive guide and, as such, will be an invaluable resource for academics, researchers, students, policymakers, as well as, practitioners in accounting and auditing firms and financial institutions.

Accounting and Auditing Standards for Islamic Financial Institutions

Author : Mohd Ma'Sum Billah
Publisher : Routledge
ISBN 13 : 9781003201878
Total Pages : 286 pages
Book Rating : 4.2/5 (18 download)

DOWNLOAD NOW!

Book Synopsis Accounting and Auditing Standards for Islamic Financial Institutions by : Mohd Ma'Sum Billah

Download or read book Accounting and Auditing Standards for Islamic Financial Institutions written by Mohd Ma'Sum Billah and published by Routledge. This book was released on 2021-11 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: "While accounting and audit functions are significantly regulated and standardized in conventional financial industries and activities, through the implementation of International Accounting Standards, and International Financial Reporting Standards, as well as other international, regional, and local regulations, this is not the case for Islamic financial organizations. Rather than having their own set of comprehensive accounting or auditing standards or policies, these are based, in some cases, on the Accounting and Auditing Organization for Islamic Financial Institutions (AAIOFI), the Islamic Financial Services Board (IFSB)'s standards and Shari'ah based local policies. This book is a timely and comprehensive overview of accounting and auditing standards within the doctrine of Shari'ah. It offers a significant contribution to the field and a wealth of technical know-how. It analyzes Islamic accounting and auditing both in theory and practice and from a distinctly international perspective. The chapters are arranged in a systematic and logical way making it easily accessible and engaging. The book evaluates the existing standards and widens the scope of the discourse to include Maqasid al-Shari'ah, Islamic accounting and audit models and standards, as well as, offering practical policy recommendations. The author presents a Shari'ah justified solution to Islamic Accounting and Audit and offers guidance on overcoming the challenges to implementing Islamic Accounting and Auditing Standards. The book is a unique and exhaustive guide and, as such, will be an invaluable resource for academics, researchers, students, policymakers, as well as, practitioners in accounting and auditing firms and financial institutions"--

Accounting and Auditing Standards for Islamic Financial Institutions

Author :
Publisher :
ISBN 13 :
Total Pages : 394 pages
Book Rating : 4.:/5 (11 download)

DOWNLOAD NOW!

Book Synopsis Accounting and Auditing Standards for Islamic Financial Institutions by :

Download or read book Accounting and Auditing Standards for Islamic Financial Institutions written by and published by . This book was released on 1998 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Mini Guide to Shari'ah Audit for Islamic Financial Institutions - A Primer

Author : Syed Alwi Mohamed Sultan
Publisher : CERT Publications Sdn Bhd
ISBN 13 : 9834278578
Total Pages : 166 pages
Book Rating : 4.8/5 (342 download)

DOWNLOAD NOW!

Book Synopsis A Mini Guide to Shari'ah Audit for Islamic Financial Institutions - A Primer by : Syed Alwi Mohamed Sultan

Download or read book A Mini Guide to Shari'ah Audit for Islamic Financial Institutions - A Primer written by Syed Alwi Mohamed Sultan and published by CERT Publications Sdn Bhd. This book was released on 2007 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Principles of Islamic Accounting

Author : Nabil Baydoun
Publisher : John Wiley & Sons
ISBN 13 : 1119023297
Total Pages : 310 pages
Book Rating : 4.1/5 (19 download)

DOWNLOAD NOW!

Book Synopsis Principles of Islamic Accounting by : Nabil Baydoun

Download or read book Principles of Islamic Accounting written by Nabil Baydoun and published by John Wiley & Sons. This book was released on 2018-09-12 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Your introduction to Islamic accounting Principles of Islamic Accounting is the first and only text that covers the fundamentals of Islamic accounting in English. A comprehensive guide, this groundbreaking reference offers both insight into Islamic accounting best practices and disclosure for Shariah-compliant instruments. Covering everything from basic transaction analysis to the preparation of financial statements, this reference serves as a broad framework around which undergraduate students can build their understanding of the Islamic business environment by offering context and showcasing how Islamic values can influence the disclosure of financial information. Islamic accounting is becoming an increasingly important aspect of the business field as globalization results in a surge in business partnerships and transactions around the world. Today's students need to understand Islamic accounting principles in order to effectively work with professionals who adhere to these standards—and accessing this information via text in English was not possible until this revolutionary reference. Review the basics through an introduction to Islamic accounting Understand the recording process, and how to complete the accounting cycle and adjust accounts as necessary Explore accounting for assets, liabilities, equity, and sukuk, as well as zakat and takaful accounting Discover details regarding Islamic commercial law, accounting for Islamic financial institutions, and Islamic corporate governance and sustainability, and look at auditing from an Islamic perspective Principles of Islamic Accounting is an essential text for first-year university students who are studying Islamic accounting, as well as professional societies and organizations that support the use of Islamic accounting principles, such as The Islamic Finance Professionals Association.

Financial Reporting for Islamic Financial Institutions

Author : Abdul Rauf Mahar
Publisher : Taylor & Francis
ISBN 13 : 1003837727
Total Pages : 359 pages
Book Rating : 4.0/5 (38 download)

DOWNLOAD NOW!

Book Synopsis Financial Reporting for Islamic Financial Institutions by : Abdul Rauf Mahar

Download or read book Financial Reporting for Islamic Financial Institutions written by Abdul Rauf Mahar and published by Taylor & Francis. This book was released on 2024-01-26 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mainstream accounting rules, namely International Financial Reporting Standards (IFRS), used in conventional banking, employ financial logics and principles which are at odds with Shariah and therefore unsuitable for reporting the results of Islamic banks. The book is an effort to explain the Islamic accounting principles and practices for Islamic Financial institutions and to juxtapose them to mainstream accounting principles in a simple and practical manner. The book begins with an overview of the Islamic Finance environment, the rationale for Islamic accounting and a brief introduction of AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions), the professional body responsible for the issuance of Islamic accounting standards. The main features of the AAOIFI Conceptual Framework and its comparison with IFRS framework are covered in Chapter 2. Chapters 3-9 cover the accounting treatment of the major Islamic finance products including trade-based (Murabaha, Salam and Istisna’a), rental-based (Ijarah) and risk-sharing based products (Mudarabah and Musharakah). Given the significance and complexity of Islamic bonds (Sukuk) for the Islamic finance industry, Chapter 10 discusses the basic accounting and reporting issues vis-à-vis Sukuk, leaving more complex issues for advanced texts on the topic. Zakah accounting (charity) and provisions and impairments are covered in Chapters 11 and 12. The chapters are arranged so that they start with a discussion of the product itself, followed by the AAOIFI accounting treatment and ending with the IFRS perspective. Each chapter begins with the learning objectives and a cover story and closes with a summary of the learning objectives. To facilitate the learning of readers, each chapter contains a glossary of the terms introduced as well as end of chapter multiple choice questions. In addition, each chapter includes practical insights and concept checks to enhance and test the understanding of the readers. This will be a useful guide for students, academics and practitioners concerned with the subject of financial reporting in Islamic Institutions.

Accounting, Auditing and Governance Standards for Islamic Financial Institutions

Author : Accounting and Auditing Organization for Islamic Financial Institutions
Publisher :
ISBN 13 : 9789990123012
Total Pages : pages
Book Rating : 4.1/5 (23 download)

DOWNLOAD NOW!

Book Synopsis Accounting, Auditing and Governance Standards for Islamic Financial Institutions by : Accounting and Auditing Organization for Islamic Financial Institutions

Download or read book Accounting, Auditing and Governance Standards for Islamic Financial Institutions written by Accounting and Auditing Organization for Islamic Financial Institutions and published by . This book was released on 2002* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

General Presentation and Disclosures

Author : IFRS
Publisher :
ISBN 13 : 9781911629641
Total Pages : pages
Book Rating : 4.6/5 (296 download)

DOWNLOAD NOW!

Book Synopsis General Presentation and Disclosures by : IFRS

Download or read book General Presentation and Disclosures written by IFRS and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Corporate Governance and Stakeholders' Financial Interests in Institutions Offering Islamic Financial Services

Author : Wafik Grais
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4./5 ( download)

DOWNLOAD NOW!

Book Synopsis Corporate Governance and Stakeholders' Financial Interests in Institutions Offering Islamic Financial Services by : Wafik Grais

Download or read book Corporate Governance and Stakeholders' Financial Interests in Institutions Offering Islamic Financial Services written by Wafik Grais and published by World Bank Publications. This book was released on 2006 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the corporate governance arrangements of institutions offering Islamic financial services (IIFS) aimed at protecting stakeholders' financial interests. Many IIFS corporate governance issues are common with those of their conventional counterparts. Others are distinctive. In particular they offer unrestricted investment accounts that share risks with shareholders but without a voting right. This paper first reviews internal and external arrangements put in place by IIFS to protect stakeholders' financial interests. It discusses shortcomings notably in terms of potential conflict of interest between shareholders and holders of unrestricted investment accounts. It then suggests a corporate governance framework that combines internal and external arrangements to provide safeguards to unrestricted investment account holders without overburdening IIFS' financial performance. The paper uses a review of 13 IIFS and regulatory information from countries where IIFS have developed the most.

CONTEMPORARY ISSUES IN FINANCIAL REPORTING OF ISLAMIC FINANCIAL INSTITUTIONS (Penerbit UMK)

Author : Zulkarnain Bin Muhamad Sori, Sazali Bin Abdul Wahab, Mahmoud Al Homsi
Publisher : Penerbit UMK
ISBN 13 :
Total Pages : 187 pages
Book Rating : 4./5 ( download)

DOWNLOAD NOW!

Book Synopsis CONTEMPORARY ISSUES IN FINANCIAL REPORTING OF ISLAMIC FINANCIAL INSTITUTIONS (Penerbit UMK) by : Zulkarnain Bin Muhamad Sori, Sazali Bin Abdul Wahab, Mahmoud Al Homsi

Download or read book CONTEMPORARY ISSUES IN FINANCIAL REPORTING OF ISLAMIC FINANCIAL INSTITUTIONS (Penerbit UMK) written by Zulkarnain Bin Muhamad Sori, Sazali Bin Abdul Wahab, Mahmoud Al Homsi and published by Penerbit UMK. This book was released on 2020-12-01 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents contemporary issues in financial reporting of Islamic financial institutions. Two key areas are covered namely, accounting for Islamic financial transactions and shariah governance. The main motivation to publish this book is to share our understanding on the unique nature of Islamic finance industry and the approach to be taken in accounting and reporting of Islamic financial transactions. Also, the book illustrate the importance of shariah governance in ensuring end-to-end shariah compliance. This book is to provide a practical guidance to researchers, industry practitioners and the others stakeholders.

Financial Reporting for Islamic Financial Institutions

Author : Mohamed Ebrahim
Publisher :
ISBN 13 : 9781708649296
Total Pages : 101 pages
Book Rating : 4.6/5 (492 download)

DOWNLOAD NOW!

Book Synopsis Financial Reporting for Islamic Financial Institutions by : Mohamed Ebrahim

Download or read book Financial Reporting for Islamic Financial Institutions written by Mohamed Ebrahim and published by . This book was released on 2019-11-16 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: The question in most people mind regarding Financial Reporting for Islamic Financial Institutions is which standards, my view is first the Financial reporting should be based on International Financial Reporting Standards (IFRS) or the appropriate national reporting standards if the Country it is incorporated follows National Standards (it is a no special consideration being an Islamic Financial Institutions), then the reporting should comply with the National Companies Act and Banking or Financial Services Act requirements, then only should the reporting being accordance with Accounting and Auditing Organisation for Islamic Financial Institution (AAOIF) http: //aaoifi.com/?lang=en or Islamic Financial Services Board (IFSB) https: //www.ifsb.org/. The reason behind this is the foundation of Islamic finance is the ethical values on which it is based on, which would not allow it to violate national laws. The guiding maxim being "hub ul watan minal imaan" loosely translated as "love of one's country is part of faith".However, there is need to have a common framework for accounting and financial reporting for Islamic Financial Institution's (IFI's) to demonstrate to the common users of general purpose financial statements that the entities they are associated with comply, in form and in substance, with the principles and rules of the Islamic Sharia ("Jurisprudence") in their financial and other transactions

Foundations of Shari'ah Governance of Islamic Banks

Author : Karim Ginena
Publisher : John Wiley & Sons
ISBN 13 : 1118460804
Total Pages : 408 pages
Book Rating : 4.1/5 (184 download)

DOWNLOAD NOW!

Book Synopsis Foundations of Shari'ah Governance of Islamic Banks by : Karim Ginena

Download or read book Foundations of Shari'ah Governance of Islamic Banks written by Karim Ginena and published by John Wiley & Sons. This book was released on 2015-02-27 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide for robust sharī'ah governance ofthe Islamic banking industry Debate in the market on the extent of sharī'ahcompliance of Islamic banks, their products, and activities haspiqued stakeholders' interest. In Foundations of Sharī'ahGovernance of Islamic Banks, Karim Ginena and Azhar Hamidexplore the depths of sharī'ah governance to unravelits mysterious dimensions, and equip academics and practitionerswith a solid understanding of the subject, which has become aserious challenge and thus deserves dedicated attention. The authors make a strong case for the need to contain thesharī'ah risk that Islamic banks experience, andpresent a compelling argument for how this should be done. Ginenaand Hamid propose a robust sharī'ah governance modelthat comprehensively tackles thisrisk, and helps improve the extentof sharī'ah compliance of market players. The authorsdetail the internal, external, and institutional arrangementsneeded to promote responsible sharī'ah governance, andcritically analyze current laws, regulations, and industrypractices on the topic. The chapters of the book do thefollowing: Examine the roots, characteristics and objectives ofsharī'ah and its relation to financial dealings; Probe the role of regulators in sharī'ahgovernance, explore the different approaches adopted by bankingsupervisors, and provide examples of relevant legal and regulatorymeasures; Explain to bank directors and management the fiduciary dutythey assume with respect to sharī'ah compliance, anddetail how they could discharge this responsibility in line withbest practices; Elaborate on the purpose of the Sharī'ahSupervisory Board (SSB), its responsibilities, competence criteria,internal regulations, and key governance guidelines; additionally,they explore different SSB models; Describe the internal sharī'ah control systemincluding its six components, and examine the internalsharī'ah audit function as well as different stages ofconducting a sharī'ah audit; Clarify the role of a sharī'ah auditor, withguidance on reporting lines, scope of duties, authority, andpractical ways on fulfilling tasks, such as a samplesharī'ah risk assessment grid and auditchecklists; Discuss the newly emerging external sharī'ahadvisory firms that are expected to play a key role in the comingyears and the services they provide. Through an effective treatment of each of these elements, andthe way that they interact with one another, the book offers afresh take on how robust sharī'ah governance of Islamicbanks can be successfully accomplished. It is a comprehensiveresource for academics, regulators, directors, lawyers, auditors,consultants, employees, and customers of Islamic banks interestedin learning more about these challenges. This essential readingpersuasively extends the discourse on the subject and addressescritical sharī'ah issues that have policy implicationsfor decision makers in jurisdictions aiming to attract thefast-growing Islamic finance industry or increase their marketshare.

Islamic Accounting and Business Research

Author :
Publisher :
ISBN 13 : 9781642242362
Total Pages : 348 pages
Book Rating : 4.2/5 (423 download)

DOWNLOAD NOW!

Book Synopsis Islamic Accounting and Business Research by :

Download or read book Islamic Accounting and Business Research written by and published by . This book was released on 2019-04 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Current debates in the accounting world, which emphasis on the issues of International Financial Reporting Standards (IFRS) as a common global financial reporting language, are compelling international accounting organizations to consider Islamic accounting. Despite the existence of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) to provide accounting standards for Islamic Financial Institutions (IFIs), there is still no standardized accounting for Islamic financial transactions. The main concern today is that the accounting policies adopted by Islamic banks in preparation of their financial statements are largely unregulated. This is why almost every Islamic financial institution has developed its own accounting policy for the various contacts governing their work resulting in significant variations. These differences unfortunately make it difficult to compare the financial statements of Islamic financial institutions, as well as make them look less credible in the eyes of international market players. Islamic Accounting and Business Research is intended to cover current theoretical and empirical research and practice in Islamic accounting, auditing and corporate governance, management of Islamic organizations, accounting regulation and policy for Islamic institutions, Shari'ah auditing and corporate governance, financial and non-financial performance measurement and disclosure in Islamic institutions and organizations. The book is aimed to discuss the history of Islamic accounting from its emersion to its subsequent development and expected growth in the future. In doing so, the book will analyze the historic influence of Islamic accounting over its conventional counterpart which dominates the industry today. Moreover, it will provide an analysis of the similarities and differences between Islamic and conventional accounting today from both a theoretical and real-world perspective. This book provides state of the art information for the advancement of accounting and business knowledge based on Shari'ah and Islamic activities that have an impact on the welfare of society.

Accounting, Auditing and Governance for Takaful Operations

Author : Sheila Nu Nu Htay
Publisher : John Wiley & Sons
ISBN 13 : 1118503961
Total Pages : 207 pages
Book Rating : 4.1/5 (185 download)

DOWNLOAD NOW!

Book Synopsis Accounting, Auditing and Governance for Takaful Operations by : Sheila Nu Nu Htay

Download or read book Accounting, Auditing and Governance for Takaful Operations written by Sheila Nu Nu Htay and published by John Wiley & Sons. This book was released on 2012-09-24 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to current issues and practices in governance for Takaful and re-Takaful operations As the global demand for Islamic insurance products increases, a thorough understanding of Takaful principles is vital for accountants, auditors, and leaders of companies offering these products. This book covers the basic accounting principles and practices of Takaful operations, including the segregation of assets, liabilities, income, and expenditures between the Takaful operator and participants; the setting aside of cash reserves for meeting outstanding claims and future claims; and the management of revenue and expenditure. Featuring extensive case studies from real-world situations, this book is the perfect primer for accounting students and practitioners unfamiliar with Islamic finance and Takaful operations. Written by experts from the International Islamic University Malaysia, the leading organisation in research in Islamic finance Covers all the major accounting principles and practices Based on real-world experience and packed with illustrative case studies For practicing accountants and business leaders, this book offers a thorough education in Takaful operations while also serving as an excellent guide for undergraduate students and researchers.

Islamic Accounting

Author : Christopher Napier
Publisher : Edward Elgar Publishing
ISBN 13 : 9781848442207
Total Pages : 0 pages
Book Rating : 4.4/5 (422 download)

DOWNLOAD NOW!

Book Synopsis Islamic Accounting by : Christopher Napier

Download or read book Islamic Accounting written by Christopher Napier and published by Edward Elgar Publishing. This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is the first ever compilation of leading articles in the field of Islamic accounting from the path defining contribution of Abdel-Majd in 1981 to the most important articles by Rifaat Ahmed Abdel Karim, founder of AAOIFI and former Secretary General of the IFSB. The collection is an essential purchase for all university libraries with Islamic finance collections as well as business schools where financial reporting is considered from different cultural perspectives. The editors are to be congratulated on their efforts.'

Financial and Accounting Principles in Islamic Finance

Author : Samir Alamad
Publisher : Springer
ISBN 13 : 3030162990
Total Pages : 368 pages
Book Rating : 4.0/5 (31 download)

DOWNLOAD NOW!

Book Synopsis Financial and Accounting Principles in Islamic Finance by : Samir Alamad

Download or read book Financial and Accounting Principles in Islamic Finance written by Samir Alamad and published by Springer. This book was released on 2019-05-10 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an original account detailing the origins and components of a faith-based accounting system that was founded around 629 CE. By examining the historical development that the accounting systems underwent within the context of faith-based rules and values, the book explains what is meant by the term “faith-based accounting”, together with a discussion of its characteristics in relation to various product structures and the underlying Islamic finance principles. It provides important theoretical and practical contributions by explaining accounting as a value-based science rather than a value-free object or abstract. This book explores the way in which religious rules act as a directive for accounting and auditing practices in IFIs. Through which the concept of money and digital currency within the theory of money and how it is enacted in a faith-based context, amid differences of opinions among its actors, is examined. This is an important foundation to explain Islamic accounting and includes how this outcome would shape the faith-based view regarding the new phenomenon of digital currency (DC). Also featured is the concept of paper money within the theory of money and how it is enacted in a faith-based legal framework by identifying two core concepts of today’s Fiat money as being a single genus or multi-genera money. This book is not merely an academic work, nor is it a pure practitioner guide; rather, it is a robust work that combines both. It marries rigorous academic research and theories with practical industry experiences. The book provides a clear and concise guide to accounting in Islamic economics and finance and how Islamic financial institutions could meet the applicable faith-based rules in their accounting practices.