Financial reporting of intangible assets in Islamic finance
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Date
2017
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Abstract
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. The study uses the qualitative research method by way of interviews followed by focus group discussions with professional accountants/accounting academics and Shar??ah scholars/advisors from academia, the industry and regulatory bodies. Analysis of relevant literature is made to understand the subject matter and Shar??ah-related issues. The study observes that the accounting dimensions of tangible assets are generally consistent with Shar??ah requirements. However, significant variation arises when the dimensions of intangible assets are represented in financial assets.
Keywords
Financial reporting , Intangible assets , Islamic finance , Fnancial assets
Citation
Alhabshi, S. M., Ab Rashid, H. M., Syed Agil, S. K., & Ahmed, M. U. (2017). Financial reporting of intangible assets in Islamic finance. ISRA International Journal of Islamic Finance, 9(2), 190-195. https://doi.org/10.1108/IJIF-08-2017-0021
Publisher
Emerald Publishing Limited