Assessment of fair value accounting from the Islamic perspective Online publication date: Wed, 11-Oct-2017
by Ika Sari Wahyuni-TD
International Journal of Accounting, Auditing and Performance Evaluation (IJAAPE), Vol. 13, No. 4, 2017
Abstract: The purpose of this paper is to explore the emerging issues of fair value accounting (FVA) from Islamic perspective. Previous literature is reviewed to identify the issues of fair value accounting from Islamic perspective. In this paper, the reliable and objective issues, gharar issue, unethical issue, zakah issue and three-tier hierarchy issue are discussed in FVA. In order to avoid Shari'ah issues in accounting measurement, the valuation basis used for the measurement of assets and liabilities should consider the types and the nature of assets and liabilities. Moreover, accountants in doing their professional duties are required to have the code of ethics based on Holy Quran and Shari'ah principles in order to get paramount rewards from Allah SWT in the hereafter. Therefore, the discussion of Shari'ah issues in this paper is expected to be useful as a sharing knowledge of the matters and challenges faced by Muslims when dealing with FVA.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Accounting, Auditing and Performance Evaluation (IJAAPE):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com
Our Blog 
Follow us on Twitter 
Visit us on Facebook