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Accounting Treatment in HPSM Contract

In: Hire Purchase Under Shirkah al-Milk (HPSM) in Islamic Banking and Finance

Author

Listed:
  • M. Kabir Hassan

    (University of New Orleans)

  • Muhammad Mostofa Hossain

    (University of Malaya)

  • Aishath Muneeza

    (International Centre for Education in Islamic Finance (INCEIF University))

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.

Suggested Citation

  • M. Kabir Hassan & Muhammad Mostofa Hossain & Aishath Muneeza, 2023. "Accounting Treatment in HPSM Contract," Springer Books, in: Hire Purchase Under Shirkah al-Milk (HPSM) in Islamic Banking and Finance, chapter 0, pages 129-139, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-50105-0_6
    DOI: 10.1007/978-3-031-50105-0_6
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