...2 . What do you understand by the Worldview? INCEIF 3 WORLDVIEW Worldview explain how man perceives this world. It denotes “a set of implicit or explicit assumptions about the origin of the universe and the nature of human life”. INCEIF 4 SECULAR WORLDVIEW Every community or system is controlled or influenced by its own worldview. different worldviews among communities or among systems lead to dissimilar end means of human life. The MAN’S WAY OF LIFE FROM SECULAR VIEW Separation between religion and other aspects of life, Materialistic, Individualistic, Less socio-economic justice, Less public relations, less concern with the Hereafter life. 6 INCEIF MAN’S WAY OF LIFE IN ISLAM Belief in a dual worldviews: this world & the hereafter. Religion is part of his/her daily life. Maslahah of the ummah (public benefit), Accountability, Trustworthiness, Transparency etc. 7 INCEIF WHY ALLAH (SWT) CREATED MAN? INCEIF 8 CONT. WHY ALLAH CREATED MAN?. According to Islamic belief, Allah has created man (and jinn)only to worship Him. INCEIF The word worship here encompasses all permissible human activities and intentions as part of the general act of acceptable worship (ibadah). Within the...
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...The Concept of the Hereafter in Islam According to Islam, the present world is not the only residence. The Qur'an says that man is placed here only temporarily, so that he may be tested in terms of his obedience to God’s will. He must always remember that there will be the life hereafter (or Akhirat as it is known in Islamic terminology), which in Islam this is also referred to as Ma‘ad, which means a place to which one returns. There is a time limit to mortal existence. Death marks the end of the testing period for all human beings. But death only means a change of abode, for the soul never dies. Man returns to the realm whence he came, so that he may wait for Judgement Day. That realm, the life hereafter, is the eternal world. Thus man’s life is divided into two parts: a brief stay in this world and an eternal life in the next world. Thus it becomes obvious that a life which is eternal is far more important than this present existence and that’s what Islam establishes. God created human beings and made them responsible for their actions by granting them freedom. If there were no Afterlife in which the good were rewarded and the bad punished, there would be no justice; in which case, it would appear meaningless to create people with a conscience and a sense of responsibility. But God is just and always acts justly. Hence it is the absolute demand of justice that there should be a Day of Judgement on which everyone is brought to book. After death, human beings will therefore...
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...In Islam there is no conflict between matter and soul, as there is no separation between economy and religion. Although Islamic economics is young in comparison with conventional economics, its characteristics, value and essence are appreciated by Muslims and the non-Muslims. The over-arching values of Islamic economics lie in the principle that it is an economic strategy that can achieve unity and harmony between the material and the spiritual life of the people. To ensure the true well-being of all individuals, irrespective of their sex, age, race, religion and wealth, Islamic economics does not seek to abolish private property, a practice done by communism, nor does it prevent individuals from serving their self-interest. It recognizes the role of the market forces in the efficient allocation of resources. It seeks to promote brotherhood, socio-economic justice and well-being of all through an integrated role of moral values, market mechanism and good governance. The differences between conventional and Islamic economics are as listed below. 1. The Role of Moral Values While conventional economics generally considers the behavior, tastes and preferences of individuals as given, Islamic economics does not do so. It places great emphasis on individual and social reforms through moral uplift. This is purportedly to be the purpose for which God’s messengers have come to this world. Moral uplift aims at changing the behavior, tastes and preferences of the individuals, and...
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...The State of Man after Death: The state of man after death is not a new state; only his condition in this life is made manifest more clearly in the next life. Whatever is the true condition of a person with respect to his beliefs and actions, righteous or otherwise, in this life, remains hidden inside him and its poison or its antidote affects his being covertly. In the life after death it will not be so; everything will manifest itself openly. One experiences a specimen of it in a dream. The prevailing condition of the body of the sleeper makes itself manifest in his dream. When he is heading towards high fever he is apt to see fire and flames in his dream, and if he is sickening due to influenza or a severe cold he is apt to find himself floating about in water. Thus, whatever the body is heading for becomes visible in a dream. So, one can understand that the same is the way of God with regard to the afterlife. As a dream transmutes our spiritual condition into a physical form, the same will happen in the next life. Our actions and their consequences will be manifested physically in the next life, and whatever we carry hidden within us from this life will all be displayed openly on our countenances in the next life. As a person observes diverse types of manifestations in his dreams but is not conscious that they are only manifestations, and deems them as realities, the same will happen in the next life. Through such manifestations, God will display a new power, a power which...
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...globe into a world-view and set of values. Here marketing practices are playing a vital role in raising the standards of business conducts worldwide. But the roots of it are secularism, valueneutral materialism, Social-Darwinism, Utilitarianism, and ‘rational economic man’ oriented. The spirits of these isms is selfishness, persuasion of profit, and want maximization. But in contrast, Islamic world-view comprises religious values, cultural values, and universal values which can be accepted and respected universally and can visualize a consumer oriented marketing culture which can ensure a balanced synthesis of both the material and the spiritual dimensions of life which emphasize to maximize the welfare of the world and the world hereafter and can establish fraternity and socio economic justice. This descriptive study will attempt to provide a brief review of conventional marketing literature at the same time it will formulate and develop a definition of Islamic Marketing and its framework based on The Holy Quran, ×adÊth and Islamic Literature. Field of Research: Marketing Keywords: Islam, Falah, Marketing, Hikmah, Need, Mutual Consent, Tayyibat etc. 1. Introduction A proper historical account of ‗Marketing‘ began with early capitalism and sociological theories of the growth of consumerist culture. Although capitalistic society comprises three forms of capitalism—commercial capitalism, financial capitalism, and industrial capitalism the latest one is...
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...In Islam there is no conflict between matter and soul, as there is no separation between economy and religion. Although Islamic economics is young in comparison with conventional economics, its characteristics, value and essence are appreciated by Muslims and the non-Muslims. The over-arching values of Islamic economics lie in the principle that it is an economic strategy that can achieve unity and harmony between the material and the spiritual life of the people. To ensure the true well-being of all individuals, irrespective of their sex, age, race, religion and wealth, Islamic economics does not seek to abolish private property, a practice done by communism, nor does it prevent individuals from serving their self-interest. It recognizes the role of the market forces in the efficient allocation of resources. It seeks to promote brotherhood, socio-economic justice and well-being of all through an integrated role of moral values, market mechanism and good governance. The differences between conventional and Islamic economics are as listed below. 1. The Role of Moral Values While conventional economics generally considers the behavior, tastes and preferences of individuals as given, Islamic economics does not do so. It places great emphasis on individual and social reforms through moral uplift. This is purportedly to be the purpose for which God's messengers have come to this world. Moral uplift aims at changing the behavior, tastes and preferences of the individuals, and...
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...TENANCY AGREEMENT An Agreement is made between …………………………………………...Nric No……………………… (Hereafter called the Proprietor) and……………………………………...Nric No……………………… (Hereafter called the Tenant). Whereas the proprietor is the owner of………….………………………... …………………………………………………………………………...……………………………...….. (Hereafter called the premises) and is desirous to renting out the premises and whereas the tenant is willing to take the premises on rent. It is hereby agreed between the proprietor and the tenant as follows: - 1. The tenant shall pay rent on the demised premised at a rate of RM………………..per month, such rent to commence from……………………………………………………. 2. The tenant shall pay a deposit equivalent to RM………… (1 month) and RM………… for Electricity & Water deposit rental upon signing this Contract. The deposit shall not be construed as the last rental but should be refunded at the end of this contract after deducting all the outstanding fees if any. 3. The tenant shall during the subsistence of their tenancy, pay in respect of the demised all charges for electricity, water and conservancy in respect if the said premises. 4. No alteration shall be made to the premises without the expressed permission in writing of the proprietor. 5. The tenant shall be responsible to make good any damages or willful act (other than damages caused by fair tear and wear)...
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...working for our Hereafter Individual. Believe in akhirat is listed in the six pillars of iman. That is important for an individual to believe in it. There are many ways that we can establish to archive the benefit and working for akhirat. As an individual, first and foremost we should live our life as a muslim. Such as maintaining our salah since that one of the main acts which distinguishes a Muslim from a non-Muslim. The importance of prayer in Islam cannot be understated because it is one of the most essential elements of obtaining a place in Paradise. Our Prophet (Peace be upon him) has said what means: “The first matter that the slave will be brought to account for on the Day of Judgment is the prayer. If it is sound, then the rest of his deeds will be sound. And if it is bad, then the rest of his deeds will be bad.” Apart from the five pillars of Islam establishing good relationships with family and maintaining pure friendships can also help to promote good deeds. Other righteous deeds include being kind to others, being hospitable to family, friends and neighbours, not backbiting or judging others. We should rush to perform good deeds before something hinders us from doing so. Working towards bettering ourselves will help us improve our eman. There are many things we need to do as Muslims to ensure that our eyes, mouth and body are in submission to Allah; we need to constantly be checking our heart and purifying it to gain a better life in the Hereafter. Family. 1...
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...Accounting in Decision Making (FADM) Term One: 2015 Questions for Group Assignments FADM 2015 Case: Maria Hernandez Refer to the case “Maria Hernandez and Associates” (HBS case No. 902-401) and answer the following questions 1. How would you have reported on the financial effects of the operations of Maria Hernandez & Associates through August 31, 2004? Did the company made a profit as Maria believed? If so, how would you explain why the cash in the bank has declined? 2. How would you report the financial status of the business on August 31, 2004? In your opinion, do you think that the financial position is healthy? FADM 2015 Problem set # 1: Receivables and inventory Refer to the annual report of Tata Motors (company, hereafter) for the year ended March 31, 2014 and answer the following questions. 1. What amount of trade and other receivables is reported on the balance sheet? 2. What is the total (gross) amount owed to the company for trade and other receivables? 3. What amount of trade receivables from customers, does the company expect to eventually collect? How does this compare to last fiscal year? 4. Can you tell what method does the company use to ascertain potentially uncollectible receivables? 5. How much of the total receivables are due for more than 6 months? Is this higher or lower than previous year? What implication does this change has? 6. Consider the account “allowances for doubtful debts”. What does this amount represent? How did this...
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...possessing a biblical Christian worldview interpret the heavens as a vast wonder wholly designed and created by their God, Yahweh. This kind of perspective is called a creationist perspective. As another example, atheists interpret the heavens as having been birthed from a naturally caused explosion called the “Big Bang.” This kind of perspective is called a naturalist perspective. Both perspectives compete with one another because each claims to be the truth. Fortunately, the law of non-contradiction tells us only one can be correct. The scope of this short essay concerns only the creationist perspective. Individuals possessing a biblical Christian worldview (hereafter referred to as Christians) believe that their God, Yahweh (hereafter referred to as God) created, by speaking into existence, the complete universe (hereafter referred to as Creation) in six literal days. This creationist perspective is derived from the first chapters of the book of Genesis found within the Bible and is a foundational belief to Christianity. Truths concerning astronomy are learned by Christians in two ways: special and general revelation. Special revelation is truth that has been revealed by God through the Bible, dreams and visions, and prophesy. By special revelation, Christians know the origin of the universe (found within the beginning chapters in the book of Genesis in the Bible). General revelation is truth that has been revealed through the examination of Creation. By general revelation, Christians...
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...Contract for Rental of Real Property This contract is made on MM/DD/YY, between _____________________ (hereafter “Landlord”) and _____________________ (hereafter “Tenant”). Landlord hereby agrees to rent to Tenant the property located at _____________________________ under the following terms: This agreement is a fixed-term lease beginning on MM/DD/YY and ending on MM/DD/YY. It shall be converted automatically to a month-to-month lease upon expiration of the lease term, unless either party notifies the other in writing at least 30 days prior to the lease’s expiration that the party does not wish the lease to continue. 1. Tenant shall pay Landlord $X on the 1st day of each month for rent of that month. Payment shall be in the form of personal check, cashier’s check, or money order only, and shall be delivered by hand to Landlord or via U. S. Mail addressed to ____________________________________________. 2. If payment is not received by Landlord by the end of the month’s 3rd day, Tenant shall pay a $X late fee plus $Y for each additional day that payment is late. 3. If Tenant’s personal check is returned or dishonored, Tenant shall pay $X for servicing of the bad check plus any applicable late fees, and all future payments shall be made by money order or cashier’s check. 4. Tenant shall pay a security deposit of $X prior to moving into the property, and Landlord shall hold this deposit in trust during the lease term. Interest shall not accrue on the deposit while...
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...power of section 404 of the Sarbanes -Oxley Act on earning quality In this article, the authors study the effect of Section 404 of the Sarbanes-Oxley Act on two primary characteristics of earnings quality, reliability and relevance in combination. Using a difference-in-differences method, they find that firms that were required to comply with Section 404 during the first 2 years of its implementation improved the reliability of their reported earnings more than control firms that were not required to comply . More than seven years after the enactment of the Sarbanes-Oxley Act of 2002 (SOX hereafter), the effectiveness of the regulation remains controversial, with the recent financial crisis fueling this debate further (Altamura & Beatty, 2010). In this article, we study the effect of the internal control requirements of Section 404 of the Sarbanes-Oxley Act(Section 404 hereafter) on the earnings quality of all complying firms. We are motivated to study this issue because Section 404 is one of the most visible and tangible changes brought by SOX,1 the most far-reaching reform in the financial reporting and corporate governance requirements for public companies since the 1930s dimensions. For example, Section 404 mandates the disclosure of internal control-related problems, whereas FDICIA does not. Such differences may lead to different effectiveness of the two regulations examine only firms that remediated their internal control problems, a small subsample of all firms...
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...were called into the doctor's office. When someone you know is about to float to the top of the tank - physically, spiritually or emotionally - you need to nudge them back into health, faith, hope. When someone needs you in a time of darkness and pain, hold them, relieve them, work with them until you reach better days. Even if they push you away and tell you they don't need your help, stay right there and make them swim. The Prophet Muhammad (saw) said: "Whoever removes a worldly grief from a believer, Allah will remove from him one of the griefs of the Day of Resurrection. And whoever alleviates the need of a needy person, Allah will alleviate his needs in this world and the Hereafter. Whoever shields [or hides the misdeeds of] a Muslim, Allah will shield him in this world and the Hereafter. And Allah will aid His Slave so long as he aids his brother..." You may think it was just a couple of fish, sure, but in all things great and small that Allah (swt) has created are signs for those who reflect. Do not be less than a fish in caring for your brother in...
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...has a relationship with the definition of Islamic Financial Marketing which defined by Ibnu Abu Yusuf & Ibnu Taimiyyah and Ibnu Khaldun. They defined it as the creation, developing and delivery of unique customer satisfying competitive products and services at a profit to organization and customer in the lights of Islamic values and principles. In contrast, conventionally it is defined as the process whereby an individual's personal and financial goals are achieved through the development and implementation of a comprehensive financial plan. Islam is a comprehensive, integrative and holistic religion that governs all aspects of life, major and minor, personal and social, spiritual and materialistic and relates this worldly life to the Hereafter. This means that we need to practice Islam while we perform our business and economic activities. Muslims are encourage planning for their life and put efforts to achieve the goal setting then ask help from Allah. The final stage is tawakal for what the result and takes it as the destiny bestows by Allah. The prophet Muhammad used to supplicate Allah: ‘My Lord, help me and do not give help against me, grant me a victory, and do not grant victory over me, plan on my behalf and do not plan against me, guide me and made my right guidance easy for me, grant me victory over those who act wrongfully towards me….’[1] (Narrated by Abu Daud.) In Islam, financial planning is not just merely a process of acquisition and accumulating wealth...
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...In order to establish a contractual agreement between Futuretronics (‘FT’ hereafter) and Graphix Labels (‘GL’ hereafter), the common law dictates that we must satisfy the elements of offer, acceptance and consideration. These elements are to be determined objectively, in regards to whether a reasonable person would believe a contract to exist between the parties. Though we must carefully analyse these elements separately, it is important to note that in essence, the courts are trying to determine whether an agreement was reached between the parties. For the purposes of the assignment, this advice will be based on the assumption that the Electronic Transactions Bill 2011 (WA) (‘ETA’ hereafter) has passed and is in force. We will apply the bill in regards to the ‘timing’ of offer and acceptance between the parties. Offer An offer is an indication of a party’s willingness to enter into an agreement and be bound by stipulated terms. On 4 January 2006 Mr Chonja of FT sent an order via text message to GL for 21000 skins for iPod Shuffles, iPod Minis, iPod 4Gs and Xbox 360s, totalling $32099. Whilst it would appear to a reasonable person in the position of GL that FT intended the offer and that if accepted, a binding agreement would be made, there is another possible determination of whether an offer actually occurred. The facts reveal that in 2005 various dealings took place between FT and GL. GL may argue that text message is an unacceptable mode of communication to create...
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