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AAOIFI Financial Accounting Standards (FAS) Training Course

The AAOIFI Financial Accounting Standards (FAS) Training Course is designed to equip finance professionals, accountants, auditors, financial controllers, compliance specialists, and senior executives with the knowledge…

BFI · Islamic Banking & FinanceAll LevelsClassroomEnglish , Arabic
Duration
5 Days
upcoming dates
60
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Course Overview

The AAOIFI Financial Accounting Standards (FAS) Training Course is designed to equip finance professionals, accountants, auditors, financial controllers, compliance specialists, and senior executives with the knowledge and practical skills required to understand and implement the Financial Accounting Standards (FAS) issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). As Islamic finance continues to expand across global markets, the adoption of standardized accounting practices has become increasingly important for ensuring transparency, consistency, regulatory compliance, and high-quality financial reporting. AAOIFI Financial Accounting Standards provide a specialized accounting framework tailored to the unique nature of Islamic financial transactions and institutions. Unlike conventional accounting standards, AAOIFI FAS addresses the accounting treatment of Shariah-compliant financing contracts, investment activities, Sukuk, Takaful, Zakat, profit distribution, and other Islamic financial instruments. Proper implementation of these standards enhances the reliability of financial statements, supports sound corporate governance, and strengthens stakeholder confidence. This comprehensive training course examines the principles, structure, and practical application of AAOIFI Financial Accounting Standards within Islamic banks, Islamic windows, investment companies, Takaful operators, and other Islamic financial institutions. Participants will explore the accounting requirements for major Islamic finance contracts, recognition and measurement principles, financial statement presentation, disclosure requirements, and reporting obligations while understanding the relationship between AAOIFI standards, regulatory frameworks, and international accounting practices. Throughout the programme, participants will engage in practical exercises, accounting case studies, financial reporting workshops, and implementation scenarios that demonstrate how AAOIFI Financial Accounting Standards can be effectively integrated into accounting policies, financial systems, governance frameworks, and institutional reporting processes. The course supports organizations in improving financial reporting quality, strengthening regulatory compliance, enhancing internal controls, and promoting operational excellence within Islamic financial institutions.

Learning Objectives

  • Analyze the structure, objectives, and application of AAOIFI Financial Accounting Standards.
  • Develop practical approaches for implementing AAOIFI FAS within Islamic financial institutions.
  • Evaluate accounting treatments for Islamic financial products and contracts.
  • Apply AAOIFI Financial Accounting Standards to financial reporting and disclosure processes.
  • Design accounting policies aligned with AAOIFI FAS requirements.
  • Improve financial reporting accuracy, consistency, and transparency.
  • Strengthen internal accounting controls and financial governance practices.
  • Implement effective accounting procedures for Islamic banking and finance operations.
  • Assess compliance with AAOIFI Financial Accounting Standards and identify improvement opportunities.
  • Align institutional accounting practices with internationally recognized Islamic accounting standards.

Who Should Attend

This course is designed for Chief Financial Officers, Finance Directors, Financial Controllers, Chief Accountants, Financial Reporting Managers, Internal Auditors, External Auditors, Compliance Officers, Risk Managers, Governance Professionals, Shariah Audit Specialists, Finance Managers, Treasury Professionals, Investment Managers, and accounting professionals responsible for financial reporting within Islamic financial institutions. The programme is highly relevant for professionals working in Islamic banks, Islamic banking windows, investment companies, Takaful operators, Islamic finance institutions, asset management firms, central banks, ministries, regulatory authorities, public sector organizations, government financial institutions, accounting firms, and consulting organizations involved in Islamic finance and financial reporting. It is also suitable for professionals responsible for financial statement preparation, regulatory reporting, accounting policy development, financial governance, enterprise risk management, internal control, audit, and compliance who seek to strengthen their expertise in AAOIFI Financial Accounting Standards and their practical implementation.

Learning Outcomes

  • By the end of this course, participants will be able to:
  • Explain the objectives, structure, and requirements of AAOIFI Financial Accounting Standards.
  • Apply AAOIFI FAS to Islamic banking transactions and financial reporting.
  • Prepare financial reports in accordance with AAOIFI accounting requirements.
  • Evaluate accounting treatments for Islamic financing contracts and investment activities.
  • Develop accounting policies consistent with AAOIFI Financial Accounting Standards.
  • Strengthen financial governance through improved accounting controls and reporting practices.
  • Identify accounting compliance risks and recommend corrective actions.
  • Integrate AAOIFI Financial Accounting Standards into institutional accounting systems.
  • Assess financial statement disclosures against AAOIFI reporting requirements.
  • Prepare practical implementation plans for sustainable adoption of AAOIFI Financial Accounting Standards.

Course Outline

Course Outline

Day 1

Introduction to AAOIFI Financial Accounting Standards

  • Overview of AAOIFI and its role in Islamic finance
  • Objectives and structure of Financial Accounting Standards
  • Conceptual framework for Islamic financial reporting
  • Comparison between AAOIFI Financial Accounting Standards and international accounting practices
  • Practical workshop: Assessing institutional readiness for AAOIFI FAS implementation
Day 2

Accounting for Islamic Financing Contracts

  • Accounting treatment of Murabaha transactions
  • Accounting for Ijarah contracts
  • Accounting requirements for Mudarabah and Musharakah
  • Accounting treatment of Salam and Istisna contracts
  • Practical case studies on Islamic financing transactions
Day 3

Accounting for Islamic Investments and Financial Instruments

  • Accounting for Sukuk and Islamic investment instruments
  • Investment property and asset recognition
  • Revenue recognition and profit allocation
  • Zakat accounting and financial reporting considerations
  • Practical workshop: Preparing accounting entries and disclosures
Day 4

Financial Statements, Disclosure, and Regulatory Compliance

  • Presentation of financial statements under AAOIFI FAS
  • Disclosure requirements for Islamic financial institutions
  • Internal controls and financial governance
  • Regulatory reporting and compliance considerations
  • Practical application: Reviewing financial statements for AAOIFI compliance
Day 5

Implementation, Governance, and Continuous Improvement

  • Developing AAOIFI-compliant accounting policies
  • Integrating AAOIFI FAS into accounting systems and business processes
  • Managing implementation challenges and organizational change
  • Future developments in Islamic financial reporting and accounting standards
  • Final workshop: Developing a comprehensive implementation roadmap for AAOIFI Financial Accounting Standards, including governance responsibilities, accounting policy updates, compliance monitoring, financial reporting improvements, and continuous performance enhancement.

Upcoming Dates

CityDatesPrice per Participantseats available
RiyadhConfirmed
21 – 25 Sept 2026€4,200
CasablancaConfirmed
21 – 25 Sept 2026€4,300
MadridConfirmed
21 – 25 Sept 2026€5,400
RomeConfirmed
28 Sept – 2 Oct 2026€5,800
DohaConfirmed
28 Sept – 2 Oct 2026€4,400
MakkahConfirmed
28 Sept – 2 Oct 2026€4,200
DubaiConfirmed
4 – 8 Oct 2026€4,400
SalalahConfirmed
5 – 9 Oct 2026€5,300
ManamaConfirmed
5 – 9 Oct 2026€4,700
TrabzonConfirmed
12 – 16 Oct 2026€4,700
AmmanConfirmed
12 – 16 Oct 2026€3,100
GenevaConfirmed
12 – 16 Oct 2026€6,300
MilanConfirmed
12 – 16 Oct 2026€6,000
TunisiaConfirmed
19 – 23 Oct 2026€3,800
MunichConfirmed
19 – 23 Oct 2026€5,400
AmsterdamConfirmed
19 – 23 Oct 2026€5,400
IstanbulConfirmed
19 – 23 Oct 2026€4,700
ViennaConfirmed
26 – 30 Oct 2026€5,700
MuscatConfirmed
26 – 30 Oct 2026€5,300
BarcelonaConfirmed
26 – 30 Oct 2026€5,400
Kuala LumpurConfirmed
26 – 30 Oct 2026€4,400
OnlineConfirmed
1 – 5 Nov 2026€1,700
ZurichConfirmed
2 – 6 Nov 2026€5,000
BerlinConfirmed
2 – 6 Nov 2026€5,800
LisbonConfirmed
2 – 6 Nov 2026€5,400
ParisConfirmed
9 – 13 Nov 2026€5,700
CairoConfirmed
9 – 13 Nov 2026€3,300
LondonConfirmed
9 – 13 Nov 2026€5,600
RiyadhConfirmed
16 – 20 Nov 2026€4,200
CasablancaConfirmed
16 – 20 Nov 2026€4,300
MadridConfirmed
16 – 20 Nov 2026€5,400
RomeConfirmed
23 – 27 Nov 2026€5,800
DohaConfirmed
23 – 27 Nov 2026€4,400
MakkahConfirmed
23 – 27 Nov 2026€4,200
DubaiConfirmed
29 Nov – 3 Dec 2026€4,400
SalalahConfirmed
30 Nov – 4 Dec 2026€5,300
ManamaConfirmed
30 Nov – 4 Dec 2026€4,700
GenevaConfirmed
7 – 11 Dec 2026€6,300
MilanConfirmed
7 – 11 Dec 2026€6,000
TrabzonConfirmed
7 – 11 Dec 2026€4,700
AmmanConfirmed
7 – 11 Dec 2026€3,100
TunisiaConfirmed
14 – 18 Dec 2026€3,800
MunichConfirmed
14 – 18 Dec 2026€5,400
AmsterdamConfirmed
14 – 18 Dec 2026€5,400
IstanbulConfirmed
14 – 18 Dec 2026€4,700
ViennaConfirmed
21 – 25 Dec 2026€5,700
MuscatConfirmed
21 – 25 Dec 2026€5,300
BarcelonaConfirmed
21 – 25 Dec 2026€5,400
Kuala LumpurConfirmed
21 – 25 Dec 2026€4,400
OnlineConfirmed
27 – 31 Dec 2026€1,700
ZurichConfirmed
28 Dec 2026 – 1 Jan 2027€5,000
BerlinConfirmed
28 Dec 2026 – 1 Jan 2027€5,800
LisbonConfirmed
28 Dec 2026 – 1 Jan 2027€5,400
ParisConfirmed
4 – 8 Jan 2027€5,700
CairoConfirmed
4 – 8 Jan 2027€3,300
LondonConfirmed
4 – 8 Jan 2027€5,600
RiyadhConfirmed
11 – 15 Jan 2027€4,200
CasablancaConfirmed
11 – 15 Jan 2027€4,300
MadridConfirmed
11 – 15 Jan 2027€5,400
RomeConfirmed
18 – 22 Jan 2027€5,800

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