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Revenue recognition of Islamic banks

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dc.contributor.authorZulkarnain Muhamad Sori
dc.date.accessioned2020-02-05T05:41:39Z
dc.date.available2020-02-05T05:41:39Z
dc.date.issued2019
dc.description.abstractAccounting for revenue recognition has been a subject of interest for regulators and other market participants. The interest stems from the fact that revenue forms the greatest single item in the financial statements (FASB, 2002 , p. 1). Indeed, aggressive revenue recognition has always been associated with corporate financial scandals like Enron, Worldcom and Parmalat. It has been used to mask firms' real performance with the aim of preventing shareholders and stakeholders from scrutinizing their financial performance and other wrongdoings. The Securities and Exchange Commission in the US documented that mistake in revenue recognition as the lead issue in "financial reporting errors" (SEC , 2003, p. 6). Also, revenue is one of key financial indicators and the most scrutinized item in financial statements in assessing firms' health and ability to continue as a going concern entity. This chapter examines the practice of using the 'Effective Profit Rate Method' in estimating revenue (or profit share) from financing activities under various Islamic finance contracts by Islamic banks (IBs) that operate in Malaysia ...en_US
dc.identifier.citationMuhamad Sori, Zulkarnain. (2019). Revenue recognition of Islamic banks. In Zulkarnain Muhamad Sori, Sazali Abdul Wahab & Mahmoud Al Homsi (Eds.), Contemporary issues in financial reporting of Islamic financial institutions (pp. 65-94). Kota Bharu, Kelantan: UMK Press.en_US
dc.identifier.isbn9789672229575
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/3158
dc.languageEnglish
dc.language.isoenen_US
dc.publisherUMK Pressen_US
dc.rights2019. UMK Press
dc.sourceSEDONA
dc.subjectEffective Profit Rate Methoden_US
dc.subjectRevenueen_US
dc.subjectProfit shareen_US
dc.subjectIslamic banksen_US
dc.subjectIslamic financeen_US
dc.subjectMalaysiaen_US
dc.titleRevenue recognition of Islamic banksen_US
dc.typeChapter in Booken_US
dlc.maintopicConventional financeen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicConventional financeen_US
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