Islamic Accounting (CPE Course)

CPE Credit: 1 hour

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $15

Course Description
Islamic accounting mostly follows the IFRS accounting framework, but differs from it in a few key areas. We discuss these differences in the Islamic Accounting course, including prohibited business activities, how to calculate Zakat, and the different sukuk structures used. The course also addresses differences in how financial statements are structured, additional disclosure requirements, and the use of social responsibility accounting.

Author: Steven Bragg

Course Number: AC1160

Learning Objectives

  • Identify the key issues governing Islamic accounting.

  • Specify the types of business activities that are prohibited under Islamic law.

  • Identify the requirements for paying Zakat.

  • Recall the different types of sukuk structures that a business may use.

  • Identify the unique characteristics of Islamic financial statements.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Latest Review Date: October 2023

Advance Preparation: Have a working knowledge of Generally Accepted Accounting Principles or International Financial Reporting Standards.

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

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AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.