ISLAMIC FINANCIAL MANAGEMENT

KJ60202410

A. Criteria for participation:

There are no requirements for this course, but basic knowledge of finance and business can help
students in the lecture.
B. Objectives:
The Islamic Financial Management course is a compulsory course that examines the framework
for understanding the concepts and theories of financial management from an Islamic perspective
to be applied in companies that want to operate sharia. Thus the material that will be discussed in
this course includes concepts, relevant theories, and calculation techniques (proof) with formulas
from an Islamic perspective, both in the form of modification, validation, and actualization.
The lecture begins with material on basic principles in Islamic finance and accounting. Students
learn about the basic principles of Islamic financial management and the definition of concepts in
Islamic financial practice, explain how individuals or the Islamic financial industry carry out
financial planning according to Islamic teachings, understand the concept of Islamic financial
instruments and contracts in financing in the capital market, know and understand how the
Islamic bank industry analyzes financial statements and determines its financial performance to
the basic accounting equation. Furthermore, students learn how to post financial transaction
journals, compile ledgers, compile balance sheets, compile adjusting journals to financial
statements. The Sharia Financial Management material provided is not only related to financial
material in the context of service companies but also trading companies.
Students can develop their accounting recording skills through homework assignments and
exams. This course is organized to achieve several learning outcomes. Students are able to
demonstrate an attitude of devotion to the Almighty God, uphold and internalize academic
values, norms and ethics, be a good citizen, be responsible for work in their field of expertise
independently and excel in soft skills aspects, the spirit of independence, struggle, and
entrepreneurship in their role in the life of society, nation and state (PLO 1). Students are able to
apply logical, critical, systematic, and innovative thinking based on the rules of scientific
procedures and ethics are able to make appropriate decisions in the context of developing or
implementing science and technology that pay attention to and apply humanities values in
accordance with their field of expertise (PLO 2). Students are able to master factual knowledge
about Islamic economic and financial policies and regulations by utilizing technology (PLO 6).
Students are able to assess the feasibility of Islamic business by applying the principles of
operational management, financial management, marketing management, human resource
management, and strategic management in the management of Islamic business in accordance
with business planning and/or company policy (PLO 9).
At the end of this course, students will be able to:
 Able to describe the basic concepts of Islamic finance and the Islamic Financial System.
 Able to understand the Company and the Foundation of Akad / Contract.
  Able to understand the Role of Financial Managers and Sharia Actualization.
 Able to compile general journal of Conventional and Sharia Financial Statements.
 Able to compile Sharia Financial Statement Accounting.
 Able to elaborate the concept of Time Value of Money and Sharia Legitimacy.
 Able to elaborate the concept of Framework for Islamic Finance.
 Able to elaborate the concept of Modification of sharia in the risk and return framework.
 Able to elaborate the concept of Investment Decision and Sharia Validation.
 Able to describe the concept of Funding Decision: Sharia Provisions in Financial
Markets.
 Able to describe the concepts of Capital Structure Theory and Islamic Financial
Concepts.
 Able to elaborate the concept of Cost of Capital and its Application to Sharia Funding
Sources.
 Able to describe the concept of Health Level Assessment of Commercial Banks Based on
Sharia Principles.
C. Ways of studying:
Students are expected to be active in creating a conducive learning atmosphere such as asking
questions, answering questions, and discussing. At each meeting, students are given an
assignment to make accounting records in their respective books. The assignment will be
discussed at the next meeting so that if there are students who still do not understand the
material, they will be given the opportunity to understand it thoroughly again. The learning
models used are lectures, discussions, and practice questions.

D. Assessment:
Based on the assessment policy of the university, this course applies assessment through attitude
and activeness assessment in class, quizzes, assignments / practicum, midterm exams (UTS) and
final semester exams (UAS).

E. Reading:
This is a general reading list. More detailed lists for individual components will follow later.
1. Sujarweni, V.W.2016. Introduction to Accounting. Yogyakarta: Pustaka Baru Press
2. Reeve, James M., Carl S. Warren, and Jonathan E. Duchac. Principles of Accounting-
Indonesia Adaptation. 2008. Singapore: Cengage Learning Asia Pte Ltd.
3. Weygandt, Jerry J., Donald E. Kieso, dan Paul D. Kimmel. 2007. Accounting Principles:
Introduction to Accounting. Jakarta: Salemba Empat.
4. Najmudin. 2011. Financial Management & Actualization of Modern Shar'iyyah. Andi
Publisher. Yogyakarta
5. Joni Ahmad Mughni.2019. Islamic Financial Management Theory and Practice.
Publisher: Manggu Makmur Tanjung Lestari. Bandung
6. Daud Vicary Abdullah & Keon Chee. 2012. Islamic Finance. Zaman. Jakarta
7. Abdul Aziz. 2012. Islamic Investment Management. Alfabeta Publisher.
 8. Akhyar Adnan. Islamic Accounting. 2002. UII Press.
9. Tariqullah Khan &Habib Ahmad. Risk Management of Islamic Financial Institutions.
Publisher Gramedia.
10. Muhammad. 2004. Islamic Finance Fundamentals. Ekonisia

F. Time:
16 weekly meetings @100 minutes