The Nexus between Islamic Inheritance and Financial Accounting: An Expository Discourse
: Islamic inheritance is among the most difficult and tasking branches of Islamic jurisprudence and it is marked to be the first knowledge to be lost in Islam.It has been used as a good example of Musharakah (Shirkat-ul-Milk GhairIkhtiari) in the literature of Islamic finance.In spite of the fact th...
| 主要な著者: | , |
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| フォーマット: | Conference or Workshop Item |
| 言語: | English |
| 出版事項: |
2017
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| 主題: | |
| オンライン･アクセス: | https://repo.uum.edu.my/id/eprint/24804/1/2nd%20IRC%202017%2042.pdf |
| _version_ | 1825805168005873664 |
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| author | Umar, Umar Habibu Mohammed, Sabo |
| author_facet | Umar, Umar Habibu Mohammed, Sabo |
| author_sort | Umar, Umar Habibu |
| collection | UUM |
| description | : Islamic inheritance is among the most difficult and tasking branches of Islamic jurisprudence and it is marked to be the first knowledge to be lost in Islam.It has been used as a good example of Musharakah (Shirkat-ul-Milk GhairIkhtiari) in the literature of Islamic finance.In spite of the fact that any inheritable estate is quantifiable in monetary terms, there is clear evidence that accounting scholars have not yet develop keen interest in the studies that link Islamic inheritance to accounting.The objective of this paper is therefore to elaborate on the relationship between Islamic Inheritance and financial accounting.The paper uses secondary sources and adopted content analysis and historical method to achieve the objective.The
study establishes necessary accounts to be opened in respect of the Islamic inheritance to be; estate account, cash account, revaluation account and musharakah financing (partner/ heir capital) account.Thus, in order to promote accountability and transparency in distributing and managing the inherited estate, the paper recommends that heirs and their trustees should employ the services of professional Islamic accountants in order to produce comprehensive financial reports for various users of the accounting information. In
addition, accounting scholars and professionals should embark upon researches of linking Islamic inheritance to accounting. |
| first_indexed | 2024-07-04T06:27:24Z |
| format | Conference or Workshop Item |
| id | uum-24804 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T06:27:24Z |
| publishDate | 2017 |
| record_format | eprints |
| spelling | uum-248042018-09-30T07:40:56Z https://repo.uum.edu.my/id/eprint/24804/ The Nexus between Islamic Inheritance and Financial Accounting: An Expository Discourse Umar, Umar Habibu Mohammed, Sabo HF5601 Accounting : Islamic inheritance is among the most difficult and tasking branches of Islamic jurisprudence and it is marked to be the first knowledge to be lost in Islam.It has been used as a good example of Musharakah (Shirkat-ul-Milk GhairIkhtiari) in the literature of Islamic finance.In spite of the fact that any inheritable estate is quantifiable in monetary terms, there is clear evidence that accounting scholars have not yet develop keen interest in the studies that link Islamic inheritance to accounting.The objective of this paper is therefore to elaborate on the relationship between Islamic Inheritance and financial accounting.The paper uses secondary sources and adopted content analysis and historical method to achieve the objective.The study establishes necessary accounts to be opened in respect of the Islamic inheritance to be; estate account, cash account, revaluation account and musharakah financing (partner/ heir capital) account.Thus, in order to promote accountability and transparency in distributing and managing the inherited estate, the paper recommends that heirs and their trustees should employ the services of professional Islamic accountants in order to produce comprehensive financial reports for various users of the accounting information. In addition, accounting scholars and professionals should embark upon researches of linking Islamic inheritance to accounting. 2017-07-11 Conference or Workshop Item PeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/24804/1/2nd%20IRC%202017%2042.pdf Umar, Umar Habibu and Mohammed, Sabo (2017) The Nexus between Islamic Inheritance and Financial Accounting: An Expository Discourse. In: 2nd International Research Conference on Economics Business and Social Sciences, 11-12 July 2017, Park Royal Hotel Penang Malaysia.. |
| spellingShingle | HF5601 Accounting Umar, Umar Habibu Mohammed, Sabo The Nexus between Islamic Inheritance and Financial Accounting: An Expository Discourse |
| title | The Nexus between Islamic Inheritance and Financial Accounting: An Expository Discourse |
| title_full | The Nexus between Islamic Inheritance and Financial Accounting: An Expository Discourse |
| title_fullStr | The Nexus between Islamic Inheritance and Financial Accounting: An Expository Discourse |
| title_full_unstemmed | The Nexus between Islamic Inheritance and Financial Accounting: An Expository Discourse |
| title_short | The Nexus between Islamic Inheritance and Financial Accounting: An Expository Discourse |
| title_sort | nexus between islamic inheritance and financial accounting an expository discourse |
| topic | HF5601 Accounting |
| url | https://repo.uum.edu.my/id/eprint/24804/1/2nd%20IRC%202017%2042.pdf |
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