Contemporary Sharia Financial Accounting (**)

The Contemporary Sharia Financial Accounting course covers contemporary issues in the field of Sharia financial accounting, namely the accounting treatment of Sharia financial transactions not yet regulated by standards, Sharia financial transactions involving hybrid contracts, international accounting standards, and the types of information required in financial statements for the implementation of market discipline in Indonesia’s Sharia economic and financial industries. The ultimate learning objective is for students to be able to recommend the recognition, measurement, presentation, and disclosure of Islamic financial transactions involving hybrid contracts and transactions not yet regulated by Islamic financial accounting standards in Indonesia within Islamic entities; to synthesize applicable financial accounting standards in Indonesia and internationally to determine the recognition, measurement, presentation, and disclosure of Islamic financial transactions involving hybrid contracts and transactions not yet regulated by Islamic financial accounting standards in Indonesia within Islamic entities, and to identify the types of information required by users of Islamic financial statements for decision-making and in the context of market discipline. The course material for this course includes international financial accounting standards, the concept of harmonization of Islamic financial standards, the concept of hybrid contracts, the concept of market discipline, and contemporary issues in Islamic financial accounting within the Islamic economic and financial industry in Indonesia. The learning process for this course is conducted through a blended learning approach using the flipped classroom model, which involves synchronous learning via face-to-face sessions—whether online, hybrid, or in-person—for case discussions aimed at deepening understanding of the material, and asynchronous learning through Airlangga University’s e-learning platform for self-directed study of course materials provided by the instructor. The teaching method used in the course is case-based learning, which involves formulating and solving problems—either independently or in groups—related to contemporary issues in Islamic finance within the Islamic financial industry. Assessment of learning outcomes is conducted using a portfolio-based assessment model that incorporates various evaluation methods aligned with the competencies students are expected to achieve.