A simple definition of a security is any proof of possession or debt that has been assigned a worth and may be sold. (Today, evidence of ownership is prone to be a computer file, while once it was a written piece of paper.) For the holder, a safety represents an investment as an proprietor, creditor or rights to possession on which the particular person hopes to gain profit. Examples are shares, bonds and choices.
Bodies such as the Asian-Oceanian Standard Setters Group (AOSSG), a regional group which creates accounting tips, are calling on the IASB to put the drafting of Islamic finance standards on its agenda. The AOSSG has arrange a working group to liaise with the IASB. More than three-quarters of 24 monetary standards-setting our bodies that responded to a survey by the AOSSG at the beginning of this 12 months mentioned there shouldn’t be separate Islamic accounting requirements … Read moreRead more →