Assessing business zakat at Pusat Zakat Selangor: between theory and practice / Rashidah Abdul Rahman and Rohila Awang

Abdul Rahman, Rashidah and Awang, Rohila (2003) Assessing business zakat at Pusat Zakat Selangor: between theory and practice / Rashidah Abdul Rahman and Rohila Awang. National Accounting Research Journal, 1 (1). pp. 33-48. ISSN 1675-753X

[img]
Preview
Text
AJ_RASHIDAH ABDUL RAHMAN NARJ 03 1.pdf

Download (559kB) | Preview

Abstract

The main objective of this study is to determine the value measurement used by zakat collection centres, particularly Pusat Zakat Selangor (PZS), in measuring business zakat among companies owned by Muslims in Selangor territory. The study found that PZS assessed zakat from companies financial statements based on historical cost, and not current value as hypothesised by previous researches. The continuous use of historical cost may lead to negative wealth transfer for zakat beneficiaries particularly in time of rising prices. Even though certain adjustments are made to the assessment, however the purpose of such adjustment is merely to reflect the Islamic philosophy of the implementation of halal and haram as well as different views of Islamic Accounting and Conventional Accounting in recognising income and expenses.

Item Type: Article
Uncontrolled Keywords: Zakat, Selangor, Business zakat
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > Islam > Alms (Zakat) > Malaysia
H Social Sciences > HF Commerce > Business > Malaysia
Divisions: Faculty of Accountancy
Depositing User: Staf Pendigitan 1
Date Deposited: 21 Apr 2015 08:37
Last Modified: 09 Sep 2016 11:40
URI: http://ir.uitm.edu.my/id/eprint/11676

Actions (login required)

View Item View Item

Downloads

Downloads per month over past year