Amalan Perakaunan Zakat di Majlis Agama Islam Negeri Terpilih

Abstract

The absence of a specific standard for zakat accounting has led to the inconsistency of zakat accounting practices by zakat administrators in Malaysia. Zakat administrators are alleged to have transparency issues in the zakat-related administrative affairs. The purpose of this article is to examine the accounting practices for the collection and distribution of zakat by the State Islamic Religious Council (SIRC). In turn, this article discusses accounting practices that aligned with generally accepted accounting conventions and comply with the Syariah requirements, which then be the basis for the development of zakat accounting standards. Data collection was conducted through analysis of the SIRC financial statements of 2016 and focus group discussions with officials of zakat administration and the accountants. The study found that all the selected SIRCs adopt fund accounting. They use cash accounting in the event of zakat transactions. Zakat collection is the revenue for the Zakat Fund (ZF) under the fund accounting. Direct (consummative) distributions as an expenditure of ZF in all the selected SIRCs. However, there are differences in accounting for productive zakat distributions involving capital expenditure (i.e. assets). Three SIRCs accounted for it as an expenditure (operations) of ZF and no recognition of assets. Keywords: zakat, income, expenses, State Islamic Religious Council, MPSAS