Zakat and Accounting Valuation Model

Authors

  • Essia Ries Ahmed Universiti Malaysia Perlis (UniMap), School of Business Innovation & echnopreneurship
  • Ku Halim Bin Aiffin Universiti Malaysia Perlis (UniMap), School of Business Innovation & echnopreneurship
  • Tariq Tawfeeq Yousif Alabdullah University of Basrah, College of Administration and Economics
  • Ahmed Zuqebah Universiti Sains Malaysia, School of Management

DOI:

https://doi.org/10.6000/1929-7092.2016.05.02

Keywords:

Zakat, Valuation, Accounting Models, Shariah

Abstract

The valuation and measurement of assets with regard to Zakat is necessary issue from Islamic perspective. Therefore, re-value the assets regularly is needed and Islamic accounting system probably uses both historical and market selling prices with regard to enable firms to accommodate contracts and to discharge with social responsibility. Zakat accounting includes the accounting principles that relate not only to measurement and valuation but also recording, interpreting, presentation and disclosure of accounting information. Thus, the main objective of this paper is to elaborate the importance of Islamic accounting valuation adopted in zakat regard to accounting models. The application and mechanics of zakat and valuation model discussed related to the implementation of the current practices of accounting and valuation models that adopted in Islamic firms.

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Published

2016-04-15

How to Cite

Ries Ahmed, E., Halim Bin Aiffin, K., Yousif Alabdullah, T. T., & Zuqebah, A. (2016). Zakat and Accounting Valuation Model. Journal of Reviews on Global Economics, 5, 16–24. https://doi.org/10.6000/1929-7092.2016.05.02

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