Islamic Economics and Finance
Course Details
KTO KARATAY UNIVERSITY
İktisadi, İdari ve Sosyal Bilimler Fakültesi
Programme of Islamic Economics and Finance
Course Details
İktisadi, İdari ve Sosyal Bilimler Fakültesi
Programme of Islamic Economics and Finance
Course Details
| Course Code | Course Name | Year | Period | Semester | T+A+L | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| 4761101 | Islamic Financial Reporting and Auditing Standards | 3 | Spring | 6 | 3+0+0 | 6 | 6 |
| Course Type | Elective |
| Course Cycle | Bachelor's (First Cycle) (TQF-HE: Level 6 / QF-EHEA: Level 1 / EQF-LLL: Level 6) |
| Course Language | Turkish |
| Methods and Techniques | Bu ders, öğrencilere hem teorik hem de uygulamalı bilgi kazandırmayı hedeflediği için farklı yöntem ve teknikler kullanılacaktır |
| Mode of Delivery | Face to Face |
| Prerequisites | - |
| Coordinator | - |
| Instructor(s) | - |
| Instructor Assistant(s) | - |
Course Content
The course includes topics such as the preparation of financial statements by Islamic financial institutions, accounting treatment of Sukuk and Takaful, Shariah compliance audit, internal audit mechanisms, ethics, and governance principles.
Objectives of the Course
The aim of this course is to provide students with a comprehensive understanding of Islamic financial reporting standards (AAOIFI FAS) and their comparison with international financial reporting standards (IAS/IFRS). The course also aims to develop knowledge and skills in Islamic auditing, Shariah compliance audit, and governance principles applied in Islamic financial institutions.
Contribution of the Course to Field Teaching
| Basic Vocational Courses | |
| Specialization / Field Courses | X |
| Support Courses | |
| Transferable Skills Courses | |
| Humanities, Communication and Management Skills Courses |
Relationships between Course Learning Outcomes and Program Outcomes
| Relationship Levels | ||||
| Lowest | Low | Medium | High | Highest |
| 1 | 2 | 3 | 4 | 5 |
| # | Program Learning Outcomes | Level |
|---|---|---|
| P1 | İslam İktisadı ve Finans alanında kuramsal ve uygulamalı bilgilere sahip olma, sahip olduğu bilgileri kullanabilme | 5 |
| P2 | İslam İktisadı ve Finans alanında edindiği bilgi, beceri ve yetkinlikleri kullanarak meseleleri tanımlama, veri toplama, değerlendirme, analiz etme, yorumlama ve çözüm önerisi geliştirebilme | 5 |
| P3 | İslam İktisadı ve Finans alanıyla ilgili farklı bilgi kaynaklarına erişip sayısal analiz ve araştırma yapabilme | 5 |
| P4 | Disiplin içi, çok disiplinli veya çok kültürlü gruplarda ve bireysel çalışabilme | 2 |
| P5 | Ahlaki değerler ve mesleki sorumluluk bilinci ile hareket edebilme | 2 |
| P6 | Alan uygulamalarının, evrensel ve toplumsal etkileri ile hukuki sonuçlarını bilme | 4 |
| P7 | Öğrenim dilinde yazılı ve sözlü iletişim kurabilme, en az bir yabancı dil bilgisine sahip olabilme | 4 |
Course Learning Outcomes
| Upon the successful completion of this course, students will be able to: | |||
|---|---|---|---|
| No | Learning Outcomes | Outcome Relationship | Measurement Method ** |
| O1 | Effectively communicates knowledge in Islamic economics and finance both orally and in writing. | P.1.6 | 1 |
| O2 | Understands the information presented in Balance Sheets (Financial Position Statements), Income Statements (Profit and Loss Statements), Cash Flow Statements, Equity Change Statements, and Profit Distribution Statements in Islamic financial institutions. | P.3.7 | 1 |
| O3 | Knows how the information in the fundamental financial statements of Islamic financial institutions is formed. | P.3.8 | 1 |
| O4 | Can analyze account information in the Balance Sheets (Financial Position Statements) and Income Statements (Profit and Loss Statements) of Islamic financial institutions. | P.3.9 | 1 |
| O5 | Can compare and evaluate the Balance Sheet (Financial Position Statements) and Income Statements (Profit and Loss Statements) of different Islamic financial institutions. | P.3.10 | 1 |
| O6 | Adopts and applies the fundamental moral principles of Islamic economics and finance. | P.5.1 | 1 |
| O7 | Conducts business and operations in line with the principles of Islamic economics and finance. | P.5.3 | 1 |
| ** Written Exam: 1, Oral Exam: 2, Homework: 3, Lab./Exam: 4, Seminar/Presentation: 5, Term Paper: 6, Application: 7 | |||
Weekly Detailed Course Contents
| Week | Topics |
|---|---|
| 1 | Acoounting vs Islamic Accounting |
| 2 | Introduction to Islamic finance and financial reporting |
| 3 | Conceptual Framework: AAOIFI vs. IFRS |
| 4 | Conceptual Framework: AAOIFI vs. IFRS |
| 5 | Conceptual Framework: AAOIFI vs. IFRS |
| 6 | Types of financial statements in Islamic financial institutions |
| 7 | Eveluation before mid term |
| 8 | Accounting for Mudarabaha transactions |
| 9 | Accounting for Musharakah and Mudarabah |
| 10 | Accounting forSalam and Parallel Salam transactions |
| 11 | Accounting for Istisna transactions |
| 12 | Accounting for Ijarah transactions |
| 13 | Accounting for Sukuk |
| 14 | General evaluation |
Textbook or Material
| Resources | AAOIFI FAS's |
Evaluation Method and Passing Criteria
| In-Term Studies | Quantity | Percentage |
|---|---|---|
| Attendance | - | - |
| Course Specific Internship (If Any) | - | - |
| Homework | - | - |
| Presentation | - | - |
| Projects | - | - |
| Midterms | 3 | 20 (%) |
| Final Exam | 1 | 40 (%) |
| Total | 60 (%) | |
ECTS / Working Load Table
| Quantity | Duration | Total Work Load | |
|---|---|---|---|
| Course Week Number and Time | 14 | 3 | 42 |
| Out-of-Class Study Time (Pre-study, Library, Reinforcement) | 14 | 3 | 42 |
| Midterms | 3 | 20 | 60 |
| Quiz | 0 | 0 | 0 |
| Homework | 0 | 0 | 0 |
| Practice | 0 | 0 | 0 |
| Laboratory | 0 | 0 | 0 |
| Project | 0 | 0 | 0 |
| Workshop | 0 | 0 | 0 |
| Presentation/Seminar Preparation | 0 | 0 | 0 |
| Fieldwork | 0 | 0 | 0 |
| Final Exam | 1 | 30 | 30 |
| Other | 0 | 0 | 0 |
| Total Work Load: | 174 | ||
| Total Work Load / 30 | 5,80 | ||
| Course ECTS Credits: | 6 | ||
Course - Learning Outcomes Matrix
| Relationship Levels | ||||
| Lowest | Low | Medium | High | Highest |
| 1 | 2 | 3 | 4 | 5 |
| # | Learning Outcomes | P1 | P3 | P5 |
|---|---|---|---|---|
| O1 | Effectively communicates knowledge in Islamic economics and finance both orally and in writing. | 5 | - | - |
| O2 | Understands the information presented in Balance Sheets (Financial Position Statements), Income Statements (Profit and Loss Statements), Cash Flow Statements, Equity Change Statements, and Profit Distribution Statements in Islamic financial institutions. | - | 5 | - |
| O3 | Knows how the information in the fundamental financial statements of Islamic financial institutions is formed. | - | 5 | - |
| O4 | Can analyze account information in the Balance Sheets (Financial Position Statements) and Income Statements (Profit and Loss Statements) of Islamic financial institutions. | - | 2 | - |
| O5 | Can compare and evaluate the Balance Sheet (Financial Position Statements) and Income Statements (Profit and Loss Statements) of different Islamic financial institutions. | - | 2 | - |
| O6 | Adopts and applies the fundamental moral principles of Islamic economics and finance. | - | - | 5 |
| O7 | Conducts business and operations in line with the principles of Islamic economics and finance. | - | - | 5 |