Islamic Accounting Research Articles

Zakat and poverty alleviation in Muslim countries: A Biblioshiny application

IntroductionPoverty is a topic that is hotly discussed in the economic world, especially in developing countries, including Muslim countries. However, research on scientific developments regarding poverty in Muslim countries is still limited.ObjectivesThis study aims to examine trends in the development of zakat and poverty alleviation in Muslim countries using the Scopus database over a period of 32 years from 1991 with the keyword zakat poverty.MethodA bibliometric approach was used to answer this goal by mapping research publications with the help of R-Biblioshiny software.ResultsThe results found 172 document sources discussing this topic, of which 114 journal articles made the largest contribution. The most relevant journal is Journal of Islamic Accounting and Business Research. Apart from that, the largest country's publication contribution is Malaysia, with 160 articles, with the most productive writer Saad Raj, who has a fairly extensive network of author collaborations. Finally, the relationship between words divided into five naming clusters is an important discussion in this research.ImplicationsThe mapping results in this study can serve as a reference for developing new research on zakat and poverty alleviation in Muslim countries in the future.Originality/NoveltyThis study contributes to the mapping of scientific developments on the topic of poverty in Muslim countries.

The Implementation of Islamic Accounting Standards and Its Impact on the Performance of Qatar Islamic Banks: A Case Study of Qatar Islamic Bank

This research paper aims to assess the impact of applying Islamic accounting standards on the performance of Islamic banks. Several of these standards have been identified, and various indicators have been used to measure the performance of Qatar Islamic Bank as a case study. The importance of the research paper lies in guiding the financial and regulatory policies of Islamic banks towards the significance of adhering to the application of Islamic accounting standards and making sustainable managerial decisions to enhance the performance of these banks , The study's findings, analyzing the performance of Qatar Islamic Bank and identifying discrepancies in the application of standards by understanding their effects, serve as recommendations and a practical guide for other Islamic banks. This aids in recognizing the consequences of implementing these standards and addressing potential irregularities ,The study found that Qatar Islamic Bank relies on Financial Accounting Standards (FAS) issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), modified by the Qatar Central Bank, in preparing its financial and accounting reports. Results indicated the bank's adherence to the standards of Mudarabah, Murabaha, and Ijarah ending with ownership. Analysis of financial statements showed a strong performance by the bank, accompanied by an increase in profitability. The study recommends diversification in other forms of Islamic financing, particularly in Mudarabah and Partnership.

Comparative analysis of accounting standards in the Islamic banking industry: a focus on financial leasing

Purpose This study aims to evaluate Islamic bank compliance with the accounting and auditing organisation for Islamic financial institutions (AAOIFI), assess the impact of multiple accounting standards in Islamic banking, examine the need for private accounting standards and assess international financial reporting standards (IFRS) compatibility with Islamic banking and analyse financial leasing accounting in Islamic banking compared to IFRS 16. Design/methodology/approach A combination of comparative theoretical analysis, physical examination, and semi-structured interviews has been used as a research methodology. These methods are interconnected and complement each other to provide a comprehensive approach to address the research questions. Findings Islamic banks in various countries show varying compliance with AAOIFI accounting standards. Some fully comply, while others adopt a hybrid approach combining AAOIFI and IFRS. Differences in accounting treatments can result in conflicts, asset inflation and financial statement discrepancies. Challenges and criticisms faced by AAOIFI standards include violating the matching principle and lacking faithful representation. Collaboration among academics, standards-setting bodies and organisers is crucial for guiding the reporting of Islamic financial statements. Practical implications The research identifies gaps in implementing Islamic accounting standards and proposes strategies to enhance compliance, improve performance and increase transparency in Islamic financial institutions. It highlights the importance of a harmonised and universally accepted accounting framework for Islamic banking, considering the compatibility between IFRS and Islamic principles. Social implications Social implications have arisen regarding the global acceptance of Islamic finance, which leads to an increase in socially Islamic finance exchange. Originality/value This research examines the consequences of using multiple accounting standards in the Islamic banking industry and discusses the need for private accounting standards and compatibility with IFRS.

Waqf and Sustainability: A Text Mining

The purpose of this study was to conduct a bibliometric analysis of all publications on Scopus related to waqf and sustainability. The methodology for text mining was carried out in July 2021 by searching for all references related to the themes of "waqf" and "sustainability" in all fields of Scopus and 292 pieces of scientific literature were found. In addition, the results of this review include documents published from 2003 to 2021. The results show that the number of publications on the theme of waqf and sustainability continues to increase. The results showed that the most productive and growing journal was the Journal of Islamic Accounting and Business Research. The most popular authors are Hassan MK, Kassim S, Mohammed MO, and Umar UH, the most productive institution is Universiti Teknologi Mara, the most popular country is Malaysia, and the most popular keyword topics are investment, theoretical model, governance approach, and sustainable development. The number of Waqf articles in their role in sustainability continues to grow. This study also reviews the development of research on waqf trends and sustainability from various fields including citations, journals, countries, authors, institutions, to topics. The implication of this research is to identify the development of research trends in the theme of waqf and sustainability.

Factors that Influence Accounting Students' Interest in Careers in Sharia Banking (Empirical Study at Indo Global Mandiri University)

This study aims to examine the influence of religiosity, Islamic accounting knowledge, labor market considerations, financial rewards, work environment, and family or friends on the interests of students accounting study program of Indo Global Mandiri University for a career in Islamic banking. The data used are primary data. The data collection technique was carried out by surveying 50 respondents. The data were analyzed using multiple linear regression analyses. The results prove that the consideration of the labor market, financial rewards, and the work environment have a positive effect on student interest in a career in Islamic banking. Meanwhile, religiosity, knowledge of Islamic accounting, and the environment of family or friends do not have a positive effect on student interest in a career in Islamic banking.

ANALYSIS OF TAX AVOIDANCE IN FINANCIAL STATEMENT FROM SHARIA ACCOUNTING PERSPECTIVE

Tax evasion for companies in Indonesia is not a violation of the law where there are no civil sanctions. However, such activities are not justified in Islam. In Islam, an accounting system using Islamic sharia is a recording system that aims to get profits without any party feeling disadvantaged. The purpose of this study is to analyze tax scanning on financial statements from the perspective of Islamic accounting. The research method used in this study uses the Fixed Effect Model (FEM) with panel data from 2020-2022; the sample used is 10 company stocks included in the Jakarta Islamic Index. The results of FEM statistics showed that the company's profit variable, namely ROA, significantly negatively affected tax avoidance, and the company's sales growth variable significantly positively affected tax avoidance with a confidence level of 95 percent. Then the practice of tax avoidance in the perspective of Islamic accounting where the activity is not allowed because it will cause losses to other parties.

Conceptualising accounting as a value-based concept in the context of alternative finance

PurposeThis study aims to investigate the claim that there is no coherent and homogeneous body of concepts and practices that can be classified as “Islamic accounting”.Design/methodology/approachThe study focuses specifically on Islamic accounting and uses a qualitative historical documentary analysis methodology to study an original manuscript from the 14th century.FindingsThe analysis of the manuscript argues that religious accounting can be seen as a value-based system for achieving social good and that in the context of Islamic accounting, it can be conceptualised as a coherent body of ideas and practices.Originality/valueFirstly, the study conceptualises Islamic accounting as a homogeneous discipline with its own knowledge, concepts and practices. Secondly, it contributes to current accounting literature by examining an ancient manuscript from the 14th century, which serves as a foundation for understanding the Islamic accounting system within the context of accounting, religion and spirituality. The paper further contributes by arguing that this conceptualisation of religious accounting as a value-based approach enables its practitioners to evaluate their own accountabilities in delivering on socioeconomic objectives related to inter-human/environmental, social and financial transactions within the context of religious accounting practices.

TRANSFORMATION OF SHARIA ACCOUNTING INNOVATION: CHALLENGES AND OPPORTUNITIES IN ANALYSIS OF DIGITALIZATION ERA

This paper discusses the transformation of Islamic accounting innovation in facing challenges and creating opportunities in the digitalization era. In the context of an increasingly digitally connected business, implementing Islamic accounting innovation through information technology plays an essential role for Islamic financial companies. Previous research has shown the positive impact of adopting information technology in Islamic accounting practices, including improving operational efficiency, transparency, and quality of service to customers. However, challenges still need to be addressed, such as the complexity of Islamic accounting principles, data security, and the need for skilled human resources. This study aims to analyze the challenges and opportunities in the transformation of Islamic accounting innovation in the era of digitalization and create a strategic framework to overcome the challenges and take advantage of the opportunities. This study will identify various challenges financial companies face in implementing Islamic accounting innovations in the digitalization era through a comprehensive literature review. In addition, this study will also identify emerging opportunities in terms of utilizing technology to enhance Islamic accounting practices. The results of this study will provide valuable insights for Islamic financial companies in dealing with accounting changes and innovations in the digitalization era. By understanding the challenges and creating an appropriate strategic framework, companies can optimize the benefits of transforming Islamic accounting innovation and strengthen their position in the increasingly competitive Islamic finance industry

An Exploratory Study of Manfaʿah (Usufruct) in Ijārah Accounting from the Sharīʿah Perspective

Purpose — The recording and reporting of usufruct in ijārah (lease) financing is a major issue in both conventional and Islamic accounting standards. The International Accounting Standard (IAS-17) was revised and replaced by the International Financial Reporting Standards (IFRS-16) to address this issue. In response, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) revised and issued a new ijārah Financial Accounting Standards (FAS-32). Considering this ongoing issue, the aim of this study is to explore māl (asset) and milkīyah (ownership) as the two significant Sharīʿah dimensions of manfaʿah (usufruct) in ijārah accounting. Design/Methodology/Approach — This study adopts the qualitative research methodology and uses the content analysis technique whereby secondary data was collected from the related books of Islamic fiqh (jurisprudence) as well as from the accounting and Sharīʿah standards of ijārah. Findings — The study found that manfaʿah is a māl and as per the milkīyah structure, the lessee can represent legal ownership of the leased assets under his possession, and accordingly, manfaʿah could be registered in the lessee’s name. Originality/Value — To the best of the researchers’ knowledge, this study constitutes the first of its kind in the existing literature that focuses specifically on the Sharīʿah perspective of usufruct in ijārah accounting. Practical Implications — The findings of this study contribute to help financial and Sharīʿah experts and Islamic financial institutions (IFIs) in their understanding of manfaʿah and the adoption and implementation of the new ijārah accounting standard. This study will also help researchers in their future research.

THE TRANSFORMATION OF SHARIA ACCOUNTING IN PROMOTING SUSTAINABILITY ECONOMIC GROWTH

This research aims to analyze the transformation of Islamic accounting and its impact on strengthening the sustainable economy and gain a deeper understanding of innovative Islamic accounting practices, the role of technology in driving efficiency, and their contribution to overall Islamic economic growth. In recent years, the Islamic economy has experienced significant growth in various countries. Islamic economic principles based on Islamic moral and ethical principles offer an attractive alternative to the conventional financial system. Islamic accounting has a key role in ensuring transparency, sharia compliance, and sustainable growth in the Islamic economy. This research will discuss the importance of transformation in sharia accounting practices to achieve the goal of strengthening the broader sharia economy. Sharia accounting, as one of the important elements in the Islamic economy, plays a crucial role in ensuring transparency, sharia compliance and sustainable growth. However, further research is needed to understand how transformation in sharia accounting practices can encourage the strengthening of a sustainable economy. This research is qualitative research. The data collection technique used in this research was literature review from secondary data sources in the form of books, journals, scientific articles, official invitational websites that have information relevant to research topics such as sharia accounting and economics. The data analysis technique used in this research is content analysis technique. The results of this research are expected to provide a deeper understanding of the role and contribution of sharia accounting transformation to strengthening a sustainable economy as well as contribute to science, provide practical guidance, and raise awareness about sustainability and sharia accounting among the public.

The influence of internal control, religiosity and organizational commitment on Amil's performance with accountability as an intervening variable in the zakat management organization (ZMO) in Riau province

This research aims to analyze the influence of internal control, religiosity and organizational commitment on the performance of amil zakat with accountability as an intervening variable in the Zakat Management Organization in Riau Province. This research is quantitative, so the model used is Structural Equation Modeling - Partial Least Square. The number of samples analyzed in this research was 136 zakat amil, administrators and implementers at Zakat Management Organizations in Riau Province. The results of this research indicate that there is no direct influence between internal control and Amil Zakat's performance. Still, through the accountability variable, internal control has a positive and significant effect on Amil Zakat's performance. Organizational commitment has a direct effect on Amil's performance but does not have a direct effect on accountability. The accountability variable mediates the relationship between organizational commitment and zakat amil performance. Meanwhile, religiosity has no effect on Amil's performance but has a positive and significant effect on the accountability variable. The accountability variable has a direct effect on Amil Zakat's performance variable. The theoretical implication is that internal control, religiosity and organizational commitment should be used as theories and indicators in improving Islamic performance through Islamic accountability which is a concept as well as a process of accountability for every human being before Allah SWT. The managerial implication of this research is to pay attention to indicators that influence the performance of Amil Zakat which can be seen from the accountability process carried out by Amil such as internal control, religiosity and organizational commitment. Every Zakat Management Organization is expected to have a zakat amil who has competence in the fields of management and accounting to improve the performance of Amil Zakat l and increase the trust of Muzakki and the community.

Akuntansi Syariah: Harapan dan Realitas di Lembaga Keuangan Syariah

This study aims to determine the influence of Islamic accounting knowledge, work environment, and religiosity on the interest of accounting students in a career in Islamic financial institutions. The population in this study was all accounting students at Cipasung Tasikmalaya University, which amounted to 418 people. The sample selection method uses non-probability sampling techniques. The research method used is a quantitative descriptive analysis method. for data analysis using the IBM SPSS Statistics 27 system program. The results of this study show that partially (t) the variable of religiosity does not have an influence on the interest of accounting students for a career in Islamic financial institutions, while the variables of Islamic accounting knowledge and work environment have an influence on the interest of accounting students for a career in Islamic financial institutions. Simultaneously, (f) Islamic accounting knowledge, work environment, and religiosity jointly affect the interest of accounting students in a career in Islamic financial institutions. The R square value of 0.461 means that the amount of independent influence on the dependent variable is 46.1%. While the remaining 53.9% was influenced by other variables that were not variables in this study.

Waqf on Health: A Bibliometric Review using R

This study aims to determine the development and map of research trends with the theme waqf on health published by well-known journals. The data used in this study were 42 indexed research publications with the theme waqf on health in the period 1994-2020. The map of research development in the field of waqf on health is obtained through the export process which will be processed and analyzed using the R Biblioshiny application program. The results showed that the number of waqf on health research publications experienced a development trend with a stagnant increase. Besides, the results show that the journal with the most publication and impact is the Journal of Islamic Accounting and Business Research. The country that contributes the most to waqf on health research is Malaysia. The results of this study also indicate that the most widely used topic keywords are Waqf, Islamic, Case, and Malaysia.

DIGITALIZATION OF ISLAMIC ACCOUNTING LEARNING AT IAIN BONE ACCOUNTING LABORATORY: PERSPECTIVE ON UTILITARIANISM THEORY

This Research aims to develop Islamic accounting learning media through the perspective of digitalization-based utilitarianism theory as part of digital transformation. Media developed by utilizing social media accounting laboratory IAIN Bone. This research is a Research and Development (R&D) research with an orientation to develop a research product. Research starts from needs analysis, planning, product development, expert validation, and revision. To measure its effectiveness, limited field tests are used. The results of this study conclude the availability of learning media for the subject of Islamic accounting material that has been tested for effectiveness based on utilitarianism theory which is useful as celebrity digital content and received a positive response from students. The implication of this research is to be an input to educators and laboratories to be sensitive and able to optimize digitalization of learning as an accountable and useful digital transformation effort.

Accounting for Waqf: A Survey on Scopus-based Literatures

This study aims to see the development of research on the topic of "Waqf Accounting" and research plans that can be done based on journals published on the theme. This research uses a qualitative method with a bibliometric analysis approach. The data used is secondary data with the theme "Waqf Accounting" which comes from the Scopus database with a total of 40 journal articles. Then, the data is processed and analyzed using the VosViewer application with the aim of knowing the bibliometric map of "Waqf Accounting" research development in the world. The results of the study found that in bibliometric author mapping the author who published the most research with the theme "Waqf Accounting" was Gürsoy Ç. Furthermore, based on bibliometric keyword mapping, there are 4 clusters that can be a research path with topics related to Management of Waqf Assets and Waqf Accounting, Waqf Accounting Awareness, Business Impact and Waqf Accounting, and Challenges in Waqf Accounting Reporting. Furthermore, the most used words are waqf institution, accountability, Islamic accounting, waqf accounting, reporting, and technology.

Islamic accounting standards: historical retrospective, challenges and key players

A historical exploration of Islamic Accounting Standards is presented in this paper. The fundamental players’ roles in the emergence and expansion of Islamic accounting standards are also identified. To collect data, documents were examined and key players that are involved in the development of Islamic Accounting Standards were interviewed. It has been determined that the Dubai International Finance Centre (DIFC) primarily sets Islamic Accounting Standards in the UAE. Since the reporting standards and backgrounds of accountants may have global effects beyond their jurisdictions, this study suggests accounting standards setters with differences in the ideological and religious backgrounds should communicate with one another in an era of globalization.

Biblioshiny-R Application to Map Islamic Audit Research

This research uses a qualitative bibliometric analysis approach using Biblioshiny R software, with the aim of evaluating and investigating the development of literature related to Islamic auditing. This research data was obtained from scientific publications contained in the Scopus database during the period 1997-2023. The research results show that the main journal most active in publishing articles on Islamic auditing is Journal of Islamic Accounting and Business Research, reflecting the focus and contribution of the journal in developing literature on this topic. In particular, the most productive author in this context is Hussainey K, who has made a significant contribution in publishing articles on Islamic audits indexed in Scopus. Keyword analysis shows that “Islamic Banks” emerged as the most frequently appearing keyword related to sharia audit, highlighting the importance of sharia audit in the context of Islamic banking and financial institutions. This research also finds 5 (five) clusters of Islamic audit studies.

Implementasi Akuntansi Murabahah terhadap Pembiayaan Kepemilikan Rumah pada Perbankan Syariah

The purpose of this study is to find out how murabahah accounting is applied to Islamic banking, especially Bank Aceh Syariah Kota Kualasimpang. This study applies qualitative descriptive analysis. Data was collected through interviews with company employees and finance teams that handle homeownership financing, and documentation such as financial statements and literature. Qualitative descriptive analysis is used to analyze the data obtained. The results of the study show that Bank Aceh Syariah Kota Kualasimpang has not implemented murabahah accounting fully by the concept of Islamic accounting. In the results of the study, the bank did not set fines for customers who were late in paying financing, both when admitting and calculating fines. The limitation of this study is that the results are difficult to generalize broadly because the research is only based on research studies on one Islamic bank. So that the next researcher can add the amount of research to other Islamic banking so that the results of the research can be widely generalized.

UNRAVELING ISLAMIC SOCIAL FINANCE ACCOUNTING RESEARCH: BIBLIOMETRIC ANALYSIS AND SYSTEMATIC LITERATURE REVIEW (SLR)

This study aims to unravel Islamic social finance accounting research. The research method uses bibliometrics and SLR. The data type used is secondary data from 98 articles indexed by Scopus. Data is visualized using VOSViewer. The results show that the research distribution began in 1995. The peak of publication will be in 2021, with 15 publications. The most popular writer is Masruki R. with his 5 articles. The Journal of Islamic Accounting and Business Research is the most productive and popular journal, with 9 published articles and 149 citations. Malaysia is the most productive and most popular country, with 49 articles and 406 citations. The most popular author is Zaid O. A., with 77 citations. The most popular article, which gets 49 citations, written by Yalya H.E., discusses changes in the accounting and accountability of Sultan Sulaiman's waqf in the Ottoman Empire. USIM is the most productive university, with overshadowing 24 writers. While, IIUM is the most popular institution, with 179 citations. The following research directions are based on co-occurrence analysis through networks, density, and overlay visualization, as well as SLR analysis of zakat, infaq /alms accounting focusing on transparency, Sharia compliance, disclosure of socio-economic impact, and Enterprise Resource Planning (ERP). Meanwhile, the theme of waqf accounting focuses on disclosure, transparency, and optimization of Cash Waqf Linked Sukuk (CWLS), as well as opportunities and challenges in waqf reporting practices.

ZAKAT AND SUSTAINABLE DEVELOPMENT GOALS: A REVIEW ON ZAKAT COMPUTATION AND DISCLOSURE AMONG ISLAMIC BANKING INSTITUTIONS IN MALAYSIA

The most crucial step in reaching the sustainable development goals (SDGs) is reducing poverty, and zakat as a wealth distribution mechanism has an impact on this goal. Islamic banks' zakat payments contributed significantly to lowering poverty levels. As a result, Islamic financial organisations that satisfy the requirements must fulfil their corporate zakat responsibilities in accordance with standard given. Additionally, the bank needs guiding principles, including the zakat calculating procedure, for assessing commercial zakat. Hence, the purpose of this study is to look into how Islamic banking institutions in Malaysia compute and disclose their zakat currently. The study initially employs content analysis of the annual report. The annual report of 16 Islamic banks for the year 2021 are used to analyse the current zakat computation method. Using the content analysis technique, this study discovered that the growth method is the most desired method, used by six banks, followed by the working capital method, used by five banks. According to the study, the methodology employed by Islamic banks to calculate zakat vary from year to year, with some banks seize up to utilise a consistent system. This study will not only improve comprehension of Islamic accounting literature, specifically zakat computation methods, but will also provide useful insights for practitioners and relevant authorities. Each Islamic bank should have a clear policy in place for assessing accurate commercial zakat, including the zakat computation methods.