For a company’s main business activities, income and expenses arising during a specific period of time are classified into three...

In accounting, comparability refers to the quality of accounting information that makes an entity’s reporting about its performance, from different...

A non-financial variable specific to a party is an item whose value or performance changes in reaction to non-financial risks...

A derivative is a financial instrument or agreement/ contract whose value changes in reaction to the change in a specific...

A permanent account (also, real account) is a general ledger account (GL account) that does not close at the end...

A nominal account (temporary account) is a type of account (a general ledger account/ GL account) that closes at the...

A nominal account (temporary account) is a type of account (a general ledger account/ GL account) that closes at the...

A real account is a general ledger account (GL account) that does not close at the end of the accounting...

Perpetual sukuk are a sukuk issue that does not mature and hence sukuk are treated as equity (huqooq al-mulkiyyah) rather...

Fair value (FV) is the price / exchange price (an amount measured in currency units- CUs) at which an asset...