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

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

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 stat...

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Bibliographic Details
Main Authors: Abdul Rahman, Rashidah, Awang, Rohila
Format: Article
Language:English
Published: Faculty of Accountancy 2003
Subjects:
Malaysia
Online Access:http://ir.uitm.edu.my/id/eprint/11676/
http://ir.uitm.edu.my/id/eprint/11676/1/AJ_RASHIDAH%20ABDUL%20RAHMAN%20NARJ%2003%201.pdf
id uitm-11676
recordtype eprints
spelling uitm-116762016-09-09T11:40:55Z http://ir.uitm.edu.my/id/eprint/11676/ Assessing business zakat at Pusat Zakat Selangor: between theory and practice / Rashidah Abdul Rahman and Rohila Awang Abdul Rahman, Rashidah Awang, Rohila Malaysia 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. Faculty of Accountancy 2003 Article PeerReviewed text en http://ir.uitm.edu.my/id/eprint/11676/1/AJ_RASHIDAH%20ABDUL%20RAHMAN%20NARJ%2003%201.pdf 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
repository_type Digital Repository
institution_category Local University
institution Universiti Teknologi MARA
building UiTM Institutional Repository
collection Online Access
language English
topic Malaysia
spellingShingle Malaysia
Abdul Rahman, Rashidah
Awang, Rohila
Assessing business zakat at Pusat Zakat Selangor: between theory and practice / Rashidah Abdul Rahman and Rohila Awang
description 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.
format Article
author Abdul Rahman, Rashidah
Awang, Rohila
author_facet Abdul Rahman, Rashidah
Awang, Rohila
author_sort Abdul Rahman, Rashidah
title Assessing business zakat at Pusat Zakat Selangor: between theory and practice / Rashidah Abdul Rahman and Rohila Awang
title_short Assessing business zakat at Pusat Zakat Selangor: between theory and practice / Rashidah Abdul Rahman and Rohila Awang
title_full Assessing business zakat at Pusat Zakat Selangor: between theory and practice / Rashidah Abdul Rahman and Rohila Awang
title_fullStr Assessing business zakat at Pusat Zakat Selangor: between theory and practice / Rashidah Abdul Rahman and Rohila Awang
title_full_unstemmed Assessing business zakat at Pusat Zakat Selangor: between theory and practice / Rashidah Abdul Rahman and Rohila Awang
title_sort assessing business zakat at pusat zakat selangor: between theory and practice / rashidah abdul rahman and rohila awang
publisher Faculty of Accountancy
publishDate 2003
url http://ir.uitm.edu.my/id/eprint/11676/
http://ir.uitm.edu.my/id/eprint/11676/1/AJ_RASHIDAH%20ABDUL%20RAHMAN%20NARJ%2003%201.pdf
first_indexed 2023-09-18T22:48:24Z
last_indexed 2023-09-18T22:48:24Z
_version_ 1777417379400122368

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