Safri Haliding
Safri Haliding, lecturer at Faculty of Economics, Muhammadiyah University of Makassar, Indonesia and part time lecturer at UIN Alauddin Makassar and doing his master in accounting at International Islamic University Malaysia (IIUM)

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The Critical Aspect on Fair Value Accounting And Its Implication To Islamic Financial Institutions. Majid, Jamaluddin; Haliding, Safri
Al-Iqtishad: Journal of Islamic Economics Vol 6, No 2: July 2014
Publisher : Faculty of Shariah and Law

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v6i2.1236

Abstract

The Critical Aspect on Fair Value Accounting And Its Implication To Islamic Financial Institutions. Fair value accounting (FVA) paradigm replaced the historical cost accounting (HCA) in the development of accounting standards that FVA is more relevant that HCA probably did not provide the real financial and income information. This paper tries to explore critical aspects of the fair value accounting and its implications to Islamic Financial Institutions implications. This study concludes that that fair value accounting measurement provides many critical aspects to be implemented to Islamic Financial Institutions (IFIs). AAOIFI proposed cash equivalent value as respond to fair value measurement that cash equivalent value when the attribute condition are present such as the relevance, reliability and understandability of the resulting information  DOI:10.15408/aiq.v6i2.1236
The Need for the Islamization of Knowledge in Accounting Majid, Jamaluddin; Haliding, Safri
Al-Iqtishad: Journal of Islamic Economics Vol 6, No 1: January 2014
Publisher : Faculty of Shariah and Law

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v6i1.1366

Abstract

The Need For The Islamization of Knowledge In Accounting. This article tries to analyze the term “Islamization of knowledge method through accountancy. The economic system and the foundation of philosophy its system may influence the accounting practice that Islamic worldview provides the original source of revelation in a Muslim society by using Islamic literally of being the adherents to Islam due to be vicegerents of god and providing accountability in all aspects. Islam as a way of life, covering all activities and economic activities as accounting as well are only small part of Islam, through Al Quran and Al Hadits. In terms of developing of Islamic accounting system that as social science and institution may provide a way to satisfy its social economic objective in order to meet the benefit in this world and hereafter.  DOI: 10.15408/aiq.v6i1.1366
Manajemen Islam Perusahaan : Model Dan Praktis Haanurat, Ifayani; Suarni, Agusdiwana; Haliding, Safri
Jurnal Ekonomi Balance Vol 7, No 2 (2011): Jurnal Ekonomi Balance
Publisher : Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (64.783 KB)

Abstract

Islamic syariah is a comprehensive guide of life,  covering  of all aspect of life. Syariah is not only set the rule  of the transcendental relationship between muslim and Allah  SWT but provided for every aspect, one of the rules is organizing institutions. Therefore, Islam has also Islamic management concept  Islamic management reguires the leaders of organization are able to do a holistic approach with the God concept by giving their outhority to the God with humility, responsibility and independence to fulfill their duties and practice Islamic management with flexible  model  for maximum result.Islamic management of organization should be viewed as a means to facilitate the implementation of Islamic in the activities of the organization. Implementation of Islamic values as intangibles in our thinking and activities in all aspects of organization. Thus, The values of Islamic is actually the organization’s core values. The  Islamic values will become the strategic of organization.
The Critical Aspect on Fair Value Accounting and its Implication to Islamic Financial Institutions Haliding, Safri
Global Review of Islamic Economics and Business Vol 1, No 3 (2014)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (409.696 KB) | DOI: 10.14421/grieb.2014.013-05

Abstract

Recently, fair value measurement and its implication in accounting standards have been increasing (Ramanna, 2006). One of the important aspects of financial reporting is measurement (Barth, 2007). Barlev and Haddad (2003) state that the fair value accounting(FVA) paradigm replaced the historical cost accounting (HCA) in the development of accounting standards that FVA is more value relevant that HCA probably did not provide the real financial information and income. However, previously studies mention that fair value accounting suffers from some serious limitations and disadvantages such as issues in market approach, income approach, and cost approach. Al-Yassen and Al-Khadash (2011) argue that accounting standard setters such as the International Accounting Standards Board (IASB) UK and the Financial Accounting Standards Board (FASB) U.S as well as other national accountingstandard setters provide high attention and long-term ambition to use fair value accounting as full measurement in all financial instruments. Islamic Financial Institutions (IFIs) that have different objectives and principles as well as have different financial products with conventional financial institution. This paper tries to explore critical aspects of the fair value accounting andits implications to Islamic Financial Institutions implications. This study concludes that that fair value accounting measurement provides many critical aspects to be implemented to Islamic Financial Institutions (IFIs). Additionally, AAOIFI proposed cash equivalent value as respond to fair value measurement that cash equivalent value when the attribute condition are present such as the relevance, reliability and understandability of the resulting information. Furthermore, fully adopting International Financial Reporting Standards (IFRS) issued by IFRSIASB, there will no specific standards for unique functions of Islamic Financial Institutions. Inaddition, the paper may be recommended to work together among Muslim countries to unity the potential harmonizing one set accounting standards for Islamic Financial Institutions such as AAOIFI?s standards.