Islamic Finance – Certificate in Accounting for Islamic Financial Institutions

This is one of four Islamic Finance courses and it is recommended that this course should be the fourth and last to be studied. This course will help you gain understanding in a wide range of areas, starting with the reporting framework and standards of Islamic financial institutions, and the analysis and classification of Islamic funding and financing transactions. You will also learn how transactions adopting different contracts of financing are reported in Islamic financial statements, and find out about financial accountability and Sharia compliance of Islamic financial institutions.

The course consists of 12 chapters:

  1. Framework of financial reporting for Islamic financial institutions
  2. Financial reporting of Islamic financial institutions
  3. Financial statements I: balance sheet and statement of restricted investment
  4. Financial statements II: income statement and accounting policies on income determination
  5. Investment accounts and profit distribution policy
  6. Accounting and reporting: Mudarabah and Musharakah financing
  7. Accounting and reporting: Murabahah financing
  8. Accounting and reporting: Ijarah and Ijarah Muntahia Bi Tamleek
  9. Accounting and reporting: Salam and Istisna’ financing
  10. Corporate governance
  11. Auditing of Islamic financial institutions
  12. Shari’ah governance

Entry Requirements: Level 2 English and Maths

Format of Course Materials: Paper-based

Assignments: None, but the course contains a study guide, exemplars, and practice questions.

Exams: One exam – 40 multiple choice questions, one hour long. (Funding not included – you will need to re-apply to PET for the exam fees).

Prison Support Requirements: Organize and invigilate exam

Tutor Support: Yes

What’s Next? There are a wide range of finance, business and management courses to consider.

Find Out More: You can read about the course provider here


© Prisoners' Education Trust 2024

whois: Andy White Freelance WordPress Developer London