Liability

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Subordinated Liabilities

Liabilities which, in the event of liquidation or insolvency of the issuer (the debtor), are treated as subordinated to the...

A present economic obligation that is enforceable against an Islamic bank or financial institution. Enforcement entails settlement by means of...

Double-Entry System

An accounting principle that entails that for each credit/ debit entry made in one account, there is a corresponding entry…

Double-Entry Accounting

An accounting principle that entails that for each credit/ debit entry made in one account, there is a corresponding entry…

Double-Entry Bookkeeping

An accounting principle that entails that for each credit/ debit entry made in one account, there is a corresponding entry…

Nonfinancial Liability

A liability for which an entity (carrying it on its balance sheet) is not under obligation to settle it using...

Operating Liability

A liability for which an entity (carrying it on its balance sheet) is not under obligation to settle it using...

Non-Financial Liability

A liability for which an entity (carrying it on its balance sheet) is not under obligation to settle it using...

Bankruptcy

In Arabic iflas (إفلاس). In general, it is a situation when a person runs short of funds. The bankrupt person…

Debit

An accounting term that comes from the Latin word "debere", which means "to owe". Debit is a journal entry that...