Diploma in Islamic Accounting

Diploma in Islamic Accounting

Diploma in Islamic Accounting

Online Islamic Accounting course

Diploma in Islamic Accounting course introduce the academic field of Islamic accounting (IA). The principles and concepts of Islamic accounting are taught in detail. It also compares both conventional accounting and IA. This course makes students think critically about the factors behind the emergence of IA and financial reporting and its impact on the Islamic finance industry. The course introduces various IA standards including AAOIFI. 

Outcome

At the end of this course, students will be able to

1. Understand the theory behind Islamic Accounting

2. Explain the relationship between Islamic Accounting and Islamic economics

3. Differentiate Islamic Accounting and conventional accounting

4. Describe the process of accounting for Islamic financial institution

Course contents

  1. Principles and concepts of IA

  2. Accounting for Islamic financial institutions

  3. Accounting standards for Mudarabaha

  4. Accounting standards for Musharaka

  5. Accounting standards for Murabaha

  6. Accounting standards for Ijaraha

  7. Accounting standards for Salam

  8. Accounting standards – Istisna

 

ProgramDiploma in Islamic Accounting
Target Audience Islamic finance professionals, Islamic bankers, auditors. Accountants, Accounting technician, finance managers, treasurers, fund managers, managers of Islamic financial institutions, financial analyst, system analyst, accounting students, academics and students whoever want to start a career in Islamic accounting and reporting.
Study Mode Online (Distance learning)
Duration 6 Months (Flexible - Students have freedom to start at their own time and complete within in 18 months)
Academic requirements Bachelor of Accounting, business administration or Diploma in Accounting/Business administration and part of full accounting qualifications CPA/CIMA/CMA/CFA/Chartered Accountancy/ACCA/AAT.
Work experience Not required, however, professional experience in Islamic financial institution in accounting department will be recognized for Accredited Prior Learning (APL)
English language requirements Reading and writing skills
Learning materials Animated videos, reading materials, e-books, worksheets and case studies weekly live Q & A with instructors
Assessment Students need to complete end of chapter questions, assignments, & Capstone projects.
Award Diploma in Islamic Accounting
Awarding body Students have choice to select the Diploma provider either 1. IIISEF/GSBE 2. American International Theism University (AITU)
Fees US$ 300 - IIISEF/GSBE US$ 500 - AITU

 

* Limited number of financial relief and tuition waivers available to deserving students. Contact [email protected] for further details on financial relief/tuition fees and APL.

APPLY ONLINE HERE

 

EDIF110 Introduction to Islamic Finance

Learning objectives

  • Describe the conceptual basis of the modern practice of Islamic banking and finance.

  • Explain the historical development of and conceptual arguments for Islamic banking and finance.

  • Understand the components and operating structures of the Islamic banking and finance industry as well as the process of development of Islamic finance products.

  • Describe the current size and worldwide spread of Islamic banking and finance.

Assessments: MCQ, True and short answers

EDIF 220 Islamic Financial instruments

Learning objectives

  • Describe the sources and uses of funds and the operation of bank accounts by Islamic banks.

  • Understand how exchange-based contracts are utilized as financial instruments in Islamic finance.

  • Understand how service-based contracts are utilized as financial instruments in Islamic finance.

  • Understand how partnership contracts are utilized as financial instruments in Islamic finance.

  • Know the nature of supporting contracts in Islamic finance, including the unilateral supporting contracts.

Assessments: MCQ, True and short answers

PDIPA 110 Islamic Accounting Introduction

Learning objectives

  • Outline the nature of Islamic accounting

  • Explain the principle of Islamic worldview that contributes to the development of Islamic accounting principles

  • Discuss the interaction between Islamic worldview and accounting

Assessments: MCQ, True and short answers

PDIPA 120 Islamic Accounting Concepts

Learning objectives

  • Examine the traditional accounting concepts from Islamic perspective

  • Discusses the perspectives of Islamic worldview and Shari’ah in evaluating the modern accounting concepts

Assessments: MCQ, True and short answers

PDIPA 130 Financial Reporting for Islamic Financial Institutions

Learning objectives

  • Review the different requirements for conventional financial institutions

  • Presentation and disclosure requirements for Islamic financial institutions

Assessments: MCQ, True and short answers

PDIPA 210 Accounting for Mudarabah – Deposit and Financing

Learning objectives

  • Introduces the concepts of Islamic deposits and investment

  • Discuss the recognition, measurement and disclosure of Mudarabha instruments as investment and liability.

  • Explain the AAOIFI Standard on accounting for Mudarbaha

Assessments: MCQ, True and short answers

PDIPA 220 Accounting for Musharakah Financing

Learning objectives

  • Discuss the AAOIFI standards on Musharakah financing

  • Discuss the recognition, measurement and disclosure of Musharakah financing

  • Record the Musarakah financing transactions in T accounts .

Assessments: MCQ, True and short answers

PDIPA 230 Accounting for Murabaha Financing

Learning objectives

  • Discuss the recognition, measurement and disclosure of Musharakah financing

  • Discuss the AAOIFI standards on Musharakah financing

  • Record the Murabah financing transactions in T accounts .

Assessments: MCQ, True and short answers

PDIPA 240 Accounting for Ijarah Financing

Learning objectives

  • Explain the accounting requirment for Ijarah

  • Discuss the accounting issues on Ijarah especially on recognition of assets, liabilities, income and expenses; measurement; and disclosure

  • Discuss the AAOIFI standards on Musharakah financing

  • compares and contrasts between the concepts and the accounting requirements for ijarah muntahia bitamleek as recommended by AAOIFI, and al-ijarah thumma al-bai’ (AITAB)

  • Record the Ijarah financing transactions in T accounts .

Assessments: MCQ, True and short answers

PDIPA 240 Islamic Accounting for Zakath and Business Wealth

Learning objectives

  • Explain the fundamental principles of zakat

  • Compare and contrast the Zakath and conventional taxation system.

  • Discusses accounting principles and issues on zakat for business wealth and financial securities

  • Explains, the Net Current Assets and Net Growing Capital method in measuring zakat for business wealth.

Assessments: MCQ, True and short answers

Diploma in Islamic Accounting

Diploma in Islamic Accounting