Financial reporting of intangible assets in Islamic finance

Purpose – This paper aims to address the financial reporting dimensions of intangible assets with specific reference to International Accounting Standards (IAS) 38 as well as relevant International Financial Reporting Standards (IAS 38 exclusion) that are embedded within intangible assets. These h...

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Main Authors:	Syed Jaafar Alhabshi, Syed Musa, Ab Rashid, Hafiz-Majdi, Syed Agil, Sharifah Khadijah, Ahmed, Mezbah Uddin
Format:	Article
Language:	English
Published:	International Shari'ah Research Academy for Islamic Finance (ISRA) 2017
Subjects:	HG3368 Islamic Banking and Finance HG4001 Financial management. Business finance. Corporation finance.
Online Access:	http://irep.iium.edu.my/68327/ http://irep.iium.edu.my/68327/ http://irep.iium.edu.my/68327/ http://irep.iium.edu.my/68327/1/68327%20-%20financial%20reporting%20on%20intangible%20assets.pdf

id	iium-68327
recordtype	eprints
spelling	iium-683272018-12-06T06:42:21Z http://irep.iium.edu.my/68327/ Financial reporting of intangible assets in Islamic finance Syed Jaafar Alhabshi, Syed Musa Ab Rashid, Hafiz-Majdi Syed Agil, Sharifah Khadijah Ahmed, Mezbah Uddin HG3368 Islamic Banking and Finance HG4001 Financial management. Business finance. Corporation finance. Purpose – This paper aims to address the financial reporting dimensions of intangible assets with specific reference to International Accounting Standards (IAS) 38 as well as relevant International Financial Reporting Standards (IAS 38 exclusion) that are embedded within intangible assets. These have implications for Islamic financial assets with identifiable and measurable intangible components. Design/methodology/approach – The study uses the qualitative research method by way of interviews followed by focus group discussions with professional accountants/accounting academics and Sharīʿah scholars/advisors from academia, the industry and regulatory bodies. Analysis of relevant literature is made to understand the subject matter and Sharīʿah-related issues. Findings – The study observes that the accounting dimensions of tangible assets are generally consistent with Sharīʿah requirements. However, significant variation arises when the dimensions of intangible assets are represented in financial assets. Research limitations/implications – The paper presents an exploratory in-depth analysis within the context of intangible assets as specified in IAS 38. Originality/value – The paper elucidates the comparative accounting dimensions and Sharīʿah requirements in reporting financial assets. International Shari'ah Research Academy for Islamic Finance (ISRA) 2017 Article NonPeerReviewed application/pdf en http://irep.iium.edu.my/68327/1/68327%20-%20financial%20reporting%20on%20intangible%20assets.pdf Syed Jaafar Alhabshi, Syed Musa and Ab Rashid, Hafiz-Majdi and Syed Agil, Sharifah Khadijah and Ahmed, Mezbah Uddin (2017) Financial reporting of intangible assets in Islamic finance. ISRA International Journal of Islamic Finance, 9 (2). pp. 190-195. ISSN 0128-1976 https://www.emeraldinsight.com/loi/ijif https://doi.org/10.1108/IJIF-08-2017-0021
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG3368 Islamic Banking and Finance HG4001 Financial management. Business finance. Corporation finance.
spellingShingle	HG3368 Islamic Banking and Finance HG4001 Financial management. Business finance. Corporation finance. Syed Jaafar Alhabshi, Syed Musa Ab Rashid, Hafiz-Majdi Syed Agil, Sharifah Khadijah Ahmed, Mezbah Uddin Financial reporting of intangible assets in Islamic finance
description	Purpose – This paper aims to address the financial reporting dimensions of intangible assets with specific reference to International Accounting Standards (IAS) 38 as well as relevant International Financial Reporting Standards (IAS 38 exclusion) that are embedded within intangible assets. These have implications for Islamic financial assets with identifiable and measurable intangible components. Design/methodology/approach – The study uses the qualitative research method by way of interviews followed by focus group discussions with professional accountants/accounting academics and Sharīʿah scholars/advisors from academia, the industry and regulatory bodies. Analysis of relevant literature is made to understand the subject matter and Sharīʿah-related issues. Findings – The study observes that the accounting dimensions of tangible assets are generally consistent with Sharīʿah requirements. However, significant variation arises when the dimensions of intangible assets are represented in financial assets. Research limitations/implications – The paper presents an exploratory in-depth analysis within the context of intangible assets as specified in IAS 38. Originality/value – The paper elucidates the comparative accounting dimensions and Sharīʿah requirements in reporting financial assets.
format	Article
author	Syed Jaafar Alhabshi, Syed Musa Ab Rashid, Hafiz-Majdi Syed Agil, Sharifah Khadijah Ahmed, Mezbah Uddin
author_facet	Syed Jaafar Alhabshi, Syed Musa Ab Rashid, Hafiz-Majdi Syed Agil, Sharifah Khadijah Ahmed, Mezbah Uddin
author_sort	Syed Jaafar Alhabshi, Syed Musa
title	Financial reporting of intangible assets in Islamic finance
title_short	Financial reporting of intangible assets in Islamic finance
title_full	Financial reporting of intangible assets in Islamic finance
title_fullStr	Financial reporting of intangible assets in Islamic finance
title_full_unstemmed	Financial reporting of intangible assets in Islamic finance
title_sort	financial reporting of intangible assets in islamic finance
publisher	International Shari'ah Research Academy for Islamic Finance (ISRA)
publishDate	2017
url	http://irep.iium.edu.my/68327/ http://irep.iium.edu.my/68327/ http://irep.iium.edu.my/68327/ http://irep.iium.edu.my/68327/1/68327%20-%20financial%20reporting%20on%20intangible%20assets.pdf
first_indexed	2023-09-18T21:36:58Z
last_indexed	2023-09-18T21:36:58Z
_version_	1777412885388984320

Financial reporting of intangible assets in Islamic finance

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