A) Identify the three most important users of the financial reporting for Islamic financial institutions and explain the ways in which their needs are different from the user of conventional financial institutions.

A) Identify the three most important users of the financial reporting for Islamic financial institutions and explain the ways in which their needs are different from the user of conventional financial institutions.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter4: Managing Your Cash And Savings

Section: Chapter Questions

Problem 2LO: Describe todays financial services marketplace, both depository and nondepository financial...

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Concept explainers

Flow of Funds

The flow of funds is the financial accounts of the nation, which monitor and control the cash flow among various sectors or industries, or markets. Central banks use these flow of funds statements to acquire macroeconomic data, to publish cash inflow and cash outflow statements of the nation. This flow of funds system is utilized to identify economic activity and changes in the economy. It is used by Federal Reserve to determine the Gross Domestic Product (GDP) of the nation and to implement monetary policy and fiscal policies.

Question

(A) Identify the three most important users of the financial reporting for Islamic financial institutions and explain the ways in which their needs are different from the user of conventional financial institutions.

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To determine- User of financial statements information

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To determine - How their(user's) needs is different under conventional financial institute.

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