A present economic obligation that is enforceable against an Islamic bank or financial institution. Enforcement entails settlement by means of...

Presenting an item as a heading or line item on assets or liabilities side of an entity's balance sheet. If...

An acronym for non-cash charge; an expense/ charge that does not involve a cash transaction- that is, it constitutes no...

An accounting term that comes from the Latin word "debere", which means "to owe". Debit is a journal entry that...

The sale or disposal of an asset. Divesture takes place when a company (or any form of going concern) sells off…

The sale or disposal of an asset. Divestiture takes place when a company (or any form of going concern) sells…

A liability that is not a current liability. By nature, it is a liability (financial obligation) that is not due...

An acronym for debt exchange for common stock. It is a convertible security which constitutes a listed structured product issued…

In the context of Islamic financial accounting, an asset is recognized in the balance sheet (statement of financial position) when…

In the context of Islamic financial accounting, a liability is recognized in the balance sheet (statement of financial position) when…