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Using Activity Based Approach and Analytical Hierarchy Process in Comprehensive Islamic Financial Plan Construction

To establish a financial plan, householders need to consider various factors such as the life-cycle stage the householders are in, family status, economic status, economic environment and their objectives and preferences. Several approaches were introduced in order for a systematic application of fi...

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Main Authors: Zurina Shafii, Safeza Mohd Sapian, Mahadzir Ahmad
Format: Article
Language:English
Published: Universiti Sains Islam Malaysia 2012
Subjects:
Islamic financial plan
Analytical hierarcy process
Islamic financial
Online Access:http://ddms.usim.edu.my/handle/123456789/5361
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spelling my.usim-53612015-03-02T06:28:21Z Using Activity Based Approach and Analytical Hierarchy Process in Comprehensive Islamic Financial Plan Construction Zurina Shafii Safeza Mohd Sapian Mahadzir Ahmad Islamic financial plan Analytical hierarcy process Islamic financial To establish a financial plan, householders need to consider various factors such as the life-cycle stage the householders are in, family status, economic status, economic environment and their objectives and preferences. Several approaches were introduced in order for a systematic application of financial plan to be constructed. The approaches are the personal risk management approach, goal-programming approach, activity-based approach and ratio analysis approach. This paper highlights the use of goal-programming approach and activity based approach in creating comprehensive Islamic financial plan for a client. A hypothetical example is evaluated and recommendations using both approaches are provided. The report for Activity Based approach will contain the activities worksheet for planning and recommendations that will be reflected in the balance sheet in from of assets, liabilities and net worth. In addition, goal programming approach will distinguished between high, medium and low priority of the recommendations that are to be adopted by the clients according to their evaluation. Both approaches lend easy understanding and tracking of clients' fund and records. 2012-02-28T06:47:33Z 2012-02-28T06:47:33Z 2008 Article 1823075X http://ddms.usim.edu.my/handle/123456789/5361 en vol.5 no.1 2008; Universiti Sains Islam Malaysia
institution Universiti Sains Islam Malaysia
building USIM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universit Sains Islam i Malaysia
content_source USIM Institutional Repository
url_provider http://ddms.usim.edu.my/
language English
topic Islamic financial plan
Analytical hierarcy process
Islamic financial
spellingShingle Islamic financial plan
Analytical hierarcy process
Islamic financial
Zurina Shafii
Safeza Mohd Sapian
Mahadzir Ahmad
Using Activity Based Approach and Analytical Hierarchy Process in Comprehensive Islamic Financial Plan Construction
description To establish a financial plan, householders need to consider various factors such as the life-cycle stage the householders are in, family status, economic status, economic environment and their objectives and preferences. Several approaches were introduced in order for a systematic application of financial plan to be constructed. The approaches are the personal risk management approach, goal-programming approach, activity-based approach and ratio analysis approach. This paper highlights the use of goal-programming approach and activity based approach in creating comprehensive Islamic financial plan for a client. A hypothetical example is evaluated and recommendations using both approaches are provided. The report for Activity Based approach will contain the activities worksheet for planning and recommendations that will be reflected in the balance sheet in from of assets, liabilities and net worth. In addition, goal programming approach will distinguished between high, medium and low priority of the recommendations that are to be adopted by the clients according to their evaluation. Both approaches lend easy understanding and tracking of clients' fund and records.
format Article
author Zurina Shafii
Safeza Mohd Sapian
Mahadzir Ahmad
author_facet Zurina Shafii
Safeza Mohd Sapian
Mahadzir Ahmad
author_sort Zurina Shafii
title Using Activity Based Approach and Analytical Hierarchy Process in Comprehensive Islamic Financial Plan Construction
title_short Using Activity Based Approach and Analytical Hierarchy Process in Comprehensive Islamic Financial Plan Construction
title_full Using Activity Based Approach and Analytical Hierarchy Process in Comprehensive Islamic Financial Plan Construction
title_fullStr Using Activity Based Approach and Analytical Hierarchy Process in Comprehensive Islamic Financial Plan Construction
title_full_unstemmed Using Activity Based Approach and Analytical Hierarchy Process in Comprehensive Islamic Financial Plan Construction
title_sort using activity based approach and analytical hierarchy process in comprehensive islamic financial plan construction
publisher Universiti Sains Islam Malaysia
publishDate 2012
url http://ddms.usim.edu.my/handle/123456789/5361
_version_ 1645151653386518528
score 13.222552

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