Accounting Treatment in HPSM Contract

M. Kabir Hassan, Muhammad Mostofa Hossain () and Aishath Muneeza ()
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Muhammad Mostofa Hossain: University of Malaya
Aishath Muneeza: International Centre for Education in Islamic Finance (INCEIF University)

Chapter Chapter 6 in Hire Purchase Under Shirkah al-Milk (HPSM) in Islamic Banking and Finance, 2023, pp 129-139 from Springer

Abstract: Abstract This chapter provides an inclusive analysis of the accounting treatment of HPSM contract, drawing a comprehensive comparison between the accounting treatment of Islamic and conventional hire purchase investments. The focus is on elucidating the various stages and approaches employed in managing hire purchase accounts, shedding light on several essential methods. It is crucial to acknowledge that these methods might not have universal applicability across all jurisdictions, as different regions often utilise distinct approaches. Since the chapter offers a comparative accounting entry of hire purchase, through this in-depth exploration, readers will be equipped with valuable insights into the accounting entries associated with both Islamic and conventional hire purchase transactions, thereby enhancing the overall value of this study.

Keywords: Accounting; HPSM; Islamic; Conventional (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-50105-0_6

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DOI: 10.1007/978-3-031-50105-0_6

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