The Islamic business institutions have to be operated based on Shariah percepts (Beekun, 1997). Thus, the emergence of Islamic banks and financial institution and the great challenge they face to successfully serve the society in which they operate have led them, together with specialist in Islamic Shariah and accounting, to seek the most appropriate means to present adequate, reliable and relevant information to users of financial statement of such organizations. Many efforts have been put to establish and develop a conceptual framework for accounting it has been very slowly, conceptual framework of AAOIFI has the same problems.
TABLE OF CONTENT
1.0 Introduction
2.0 The Importance of Conceptual Framework
3.0 The Approaches to Develop Conceptual Framework
4.0 Problem In Conventional Conceptual Framework Establishments
5.0 The Comparisons of AAOIFI’s Conceptual Framework and FASB’s Conceptual Framework
6.0 The Conceptual Framework of AAOIFI and The Analysis
7.0 What the Main Sources of Islam Say
8.0 Our Standings
9.0 Conclusion
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Filed under: Islamic Economic & Finance
