In this article, we will talk about the last two components in the statement of financial position (or balance sheet) of the general purpose financial statements – liabilities and equity. In our previous article for Accounting 101 series on the Components of the general purpose financial statements, we have explained that the balance sheet is […]
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Posted inAccounting
Accounting 101: Accounting for financial assets
Briefly, this article will explain to you what an asset is and how an asset is accounted for in the financial statements. This article, however, will talk about the accounting for assets from the perspective of the MFRS framework. Nevertheless, entities under the IFRS framework also apply the same requirements as per what we will […]
Posted inIslamic Finance
The secondary source of Islamic laws
Follow this article to understand the secondary sources of Islamic laws. These sources are important to address many contemporary issues in Islamic Finance.
Posted inAccounting
Accounting 101: Accounting for non-financial assets
For this round in our series on Accounting 101, the article will explain to you what a non-financial asset is and how a non-financial asset is accounted for in the financial statements. Similar to the discussion on financial assets, this article explains the accounting for non-financial assets from the perspective of the Malaysian Financial Reporting […]
Posted inIslamic Finance
Introduction to Islamic Finance
In this article, we bring you the introduction to Islamic Finance and what are the prohibited elements in Islamic Finance.
Posted inAccounting
Accounting 101: Considerations for the presentation of financial statements
In our previous series of articles on Beginner’s guide on Accounting – Accounting 101, we have shared with you the objectives and the users of the general purpose financial statements. We have also explained the components of the general purpose financial statements. For this round, we will share with you the considerations for presentation of […]
Posted inIslamic Finance
The primary sources of Islamic laws
The article explains the primary sources of Islamic laws. It helps to understand how Shariah rulings are derived for Islamic transactions.
Posted inAccounting
Accounting 101: Components of the General Purpose Financial Statements
Understand the main components of general purpose financial statements. The article also explains further what are these components and their purposes.
Posted inAccounting
Accounting 101: Objectives and users of the general purpose financial statements
The article explains the objectives and users of general purpose financial statements. This helps to determine what information are relevant to the users.
Posted inAccounting
Accounting 101: Determining the MFRS standard to account for a transaction or event
The article provide an understanding on determining the appropriate mfrs accounting standard to account for transactions or events.