Course

Week # Lecture # TOPICS TO BE COVERED

Basic Principles of Islamic Economic Set-Up: Belief in Divine Guidance,

1.
1. Capitalist and Islamic Economy

2. Asset-Backed Financing, Capital and Entrepreneur

3. Present Practices and Performance of Islamic Banks

2.
4. Introduction of AAOIFI: Alternative Financial Reporting Framework –AAOIFI

5. Conceptual Framework of AAOIFI

3.
6. Organizational Structure of AAOIFI

Conceptual Framework for Financial Reporting by Islamic Financial Institutions:

7.
4. Financial Reports and Process

8. Elements of Financial Statements

9. Financial Accounting Process, Concepts of Accounting Measurements

5. 10. Accounting Assumptions, Financial Reports and Process (Hammad Khan, One
Slot Absent 31Oct2021)

11. Musharakah: Basic Rules of financing

6.
12 Recognition and Measurement of Musharakah Financing

13. Mudarabah Financing

7.
14. Recognition and Measurement of Mudarabah Financing

MID TERM EXAM

19. Murabahah: Basic Rules of Sale

8
Basic Features of Murabahah Financing, Securitization, Rebate on Earlier
20.
Payment

21. Salam and Parallel Salam

9.
Apply and discuss the recognition and measurement of Salam and Parallel
22.
Salam

10. 23. Istisna'a and Parallel Istisna’a

 24. Apply and discuss the recognition and measurement of Istisna’a

25. Ijarah: Basis Rules of Leasing

11.
26. Apply and discuss the recognition and measurement of Ijarah

27. Zakat accounting

12. Understand the concept of Zakat Apply and discuss the recognition and
28.
measurement of zakat in businesses

Investment accounts: Sukuk and Takaful: Understand the treatment of

29.
investment accounts under AAOIFI framework
13.
Islamic Investment funds: Equity Fund, Ijarah Fund, Commodity Fund,
Murabahah Fund, Mixed Fund

14. 29 The Principle of Limited Liability

30. Project Presentations