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

Principles and concepts of IA
Accounting for Islamic financial institutions
Accounting standards for Mudarabaha
Accounting standards for Musharaka
Accounting standards for Murabaha
Accounting standards for Ijaraha
Accounting standards for Salam
Accounting standards – Istisna

Program	Diploma 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	30 Hours (Flexible - Students have freedom to start at their own time and complete within in 12 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 from 1. London School of Business and Social Sciences (LSBSS) 2. Geneva School of Business and Economics (GSBE) 3. American International Theism University (AITU)
Fees	UK £250 - London School of Business and Social Sciences (LSBSS) or Geneva School of Business and Economics (GSBE) UK£ 500 - AITU

* Limited number of financial relief and tuition waivers available to deserving students. Contact admin@iiisef.com for further details on financial relief/tuition fees and APL.

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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.