Sharia Accounting: Understanding According to Experts, Legal Basis, Characteristics, Purpose, Principles, Characteristics and Strengths

Syari'ah Accounting: Understanding According to Experts, Legal Basis, Characteristics, Purpose, Principles, Characteristics and Strengths - What is sharia accounting and what are its advantages? Let's look at the discussion together in the article below to better understand it.

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Sharia Accounting: Understanding According to Experts, Legal Basis, Characteristics, Purpose, Principles, Characteristics and Strengths

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Sharia Accounting or Islamic Accounting is a system or technique of recording, classifying and summarizing, reporting and analyzing financial data carried out in a certain way that can be used in making economic or corporate decisions by using the sharia principles contained in Islamic values.

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Understanding of Sharia Accounting According to Experts

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  According to Dr. Omar Abdullah Zaid

Sharia accounting is an activity that is regularly related to recording transactions, actions, decisions that are in accordance with the Shari'ah and the amounts. It contains representative notes, as well as those related to measurements with implied financial results on those transactions, actions and decisions that aim to assist decision making appropriate.

• According to Sofyan S. Hope

In his book "Islamic Accounting" he defines Sharia Accounting in essence is the use of accounting in carrying out Islamic sharia. There are two versions of sharia accounting, sharia accounting which has actually been implemented in an era where society uses an Islamic value system, especially in the era of the Prophet Saw, Khulaurrasyidin and the Islamic government other.

Second, sharia accounting which is currently emerging in an era where economic and social activities are controlled by "dihegemony" by a capitalist value system that is different from the Islamic value system. Both types of accounting can be different in responding to the situation of society that existed at the time. Of course accounting is a product of its time that must follow the public's need for the information it supplies.

• According to Adnan M. Akhyar

Sharia accounting as an accounting practice that aims to help achieve "al falah" socio-economic justice. Apart from that, it is also to be fully aware of the obligations towards God, the Individual and the society with which they are associated related parties in economic activity such as accountants, managers, auditors, owners, government as a means of form worship.

• According to Napier

Sharia accounting is a field of accounting that emphasizes two things, namely accountability and reporting. Accountability is reflected in monotheism, namely by carrying out all economic activities in accordance with God's provisions. Reporting is a form of accountability to God and humans.

• According to Toshikabu Hayashi

Sharia accounting is accounting with the concept of sharia law which comes from God who is not a human creation. Sharia accounting requires that companies have ethics and social responsibility, even accountability in the afterlife, where everyone will be held accountable for everything his actions in the world.

From the various opinions above, we can conclude that sharia accounting is an accounting process based on sharia principles. More specifically, it is an accounting process for sharia transactions such as murabaha, musyrakah, mudharabah and others

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Legal Basis of Sharia Accounting

The legal basis in Sharia Accounting comes from the Al Quran, Sunah Nabawiyyah, Ijma (agreement of the scholars), Qiyas (equation of a certain event), and 'Uruf (customs) which are not against Sharia Islam.

Islamic accounting rules have special characteristics that distinguish them from conventional accounting rules. The principles of Islamic Accounting are in accordance with the norms of Islamic society, and include social science disciplines that function as public servants at the place of implementation of the Accounting.

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Characteristics of Sharia Accounting

The characteristics of sharia accounting are as follows:

• Reported properly (QS. 10:5)
• Fast in reporting (QS.2:202, 19:4,5)
• Made by experts (accountants) (QS.13:21, 13:40)
• Clear, clear, firm and informative (QS. 17:12, 14:41)
• Contains comprehensive information (QS.6:552, 39:10)
• Information is addressed to all parties involved and in need (QS.2:212, 3:27)
• Detailed and thorough (QS.65:8)
• No manipulation (QS.69:20, 78:27)
• Done continuously (not negligent) (QS.21:1, 38:26)

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Shari'ah Accounting Objectives

The objectives of sharia financial accounting are as follows:

• To determine the rights and obligations of the parties involved with the Islamic financial institution, including the rights and obligations from transactions that have not been completed, related to the application, fairness and adherence to the principles and ethics of the Shari'a Islam.
• To safeguard the assets and rights of Islamic financial institutions.
• To improve the managerial capabilities and productivity of Islamic financial institutions.
• To prepare financial reporting information that is useful to users of financial statements so that they can make informed decisions in their dealings with financial institutions.
• Well expressed, it will increase user trust and improve understanding of accounting information so that it will ultimately increase trust in Islamic financial institutions.
• Support the preparation of consistent accounting standards. Thus increasing the confidence of users of financial statements.
• As a financial report that aims to provide information regarding financial position, performance, and changes in the financial position of an enterprise that are useful to a large number of users in making decisions economy.

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Sharia Accounting Principles

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  Principle of Accountability

Concretely, transactions carried out by a businessman must be accounted for, so one of them is through financial reports or accounting reports.

• Principle of Justice

The principle of fairness in accounting has two meanings. The first is justice related to moral practice, namely honesty which is a very dominant factor. Without this honesty, the accounting information presented will be misleading and very detrimental to society.

The two words fair are more fundamental in nature "and remain grounded in ethical/shari'ah and moral values", it is this second meaning that is more is a driving force to make efforts to deconstruct the modern accounting structure towards an "alternative" accounting structure better.

• Principle of Truth

The principle of truth will create justice in recognizing, measuring and reporting economic transactions. For example in recognition, measurement and reporting activities which of course will go well if accompanied by a sense of truth.

• Philosophical Principles of Sharia Accounting

To determine the basic concept of Islamic accounting theory based on philosophical principles. Meanwhile, philosophical principles are implicitly derived from the concepts of faith, knowledge and action derived from the values ​​of monotheism. The following is an explanation of this philosophical principle.

• Humanist Philosophical Principles

Sharia accounting has principles that are humane or can be understood and learned by humans. This has the meaning that sharia accounting is not a foreign thing which then becomes strange in society.

Within the humanist philosophical principles there are basic instrumental and socio-economic concepts. This basic instrumental concept is obtained on the premise that Sharia Accounting is an instrument that can be practiced in the real world.

Thus this instrument has a relationship with the values ​​of the people who build and practice it. Meanwhile, the basic socio-economic concept indicates that the Syari'ah Accounting theory is not restrictive discourse that it has only on economic transactions, but also includes "transactions social". In this social transaction includes mental and spiritual transactions of resources owned by business entities.

• Emancipatory Philosophical Principles

Emancipatory means that sharia accounting has principles to liberate humans from the shackles of pseudo ideology. Sharia accounting that recognizes a significant change tries to make a change in thinking previously narrow and limited when looking at this field of accounting can see accounting broadly, holistically, and enlightened.

In philosophical principles there are emancipators, while the basic concepts of emancipation include the basic concepts of critical and the basic concepts of justice. The basic concept of critical provides the rationale that the construction of Islamic accounting theory is not dogmatic and exclusive.

This concept must be applied to accounting, because critical nature is needed in accounting, so that we can rationally assess the weaknesses and strengths of modern accounting. In accounting there is also the basic concept of justice, in order for important aspects of accounting to be treated fairly.

• Transcendental Philosophical Principles

Transdental means that Islamic accounting theory can cross the boundaries of the accounting discipline itself, besides accounting Sharia can also be related to other fields of science such as economics, sociology, psychology, enthology, anthropology, and other fields of study other.

Then apart from that sharia accounting also covers non-material objects that also cover mental and spiritual, the point here is that sharia accounting continues to undergo approaches with other fields of science to achieve was emancipatory.

In transcendental philosophical principles there are basic concepts of all-inclusive and rational-intuitive. The basic concept of all-inclusive provides the rationale that the construction of Islamic accounting theory is open.

In this case, it means that Islamic accounting may use concepts from modern accounting, but only concepts that are aligned with Islamic accounting values ​​are used.

The rational-intuitive basic concept indicates that epistemologically, the construction of the Syari'ah Accounting theory combines rational power and human intuition. This concept is different from modern theoretical concepts, because modern theoretical concepts prioritize ratios rather than intuition in the theoretical process.

Meanwhile, in the construction of Syari'ah Accounting theory, intuition is a very important and powerful instrument in carrying out significant changes in society, then this is also synergized with rational instruments man.

• Teleological Philosophical Principles

Teleological means that sharia accounting is also a form of accountability to God Almighty, fellow human beings, and also to the universe. This accountability is to lead to human success to the Creator.

In teleological philosophical principles there are basic concepts of ethical and holistic welfare. Ethical is a basic concept resulting from the logical consequences of the desire to return to God in a state of purity and purity.

Because Syari'ah Accounting is built on Islamic ethical values, the consequences here are on the use of Islamic ethical values ​​in the construction of Syari'ah Accounting in the form of welfare in Syari'ah Accounting is not only on material welfare but on non-material welfare or it can also be called holistic welfare. welfare).

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Characteristics of Sharia Accounting

• Sharia transactions are carried out based on the principle of mutual understanding and mutual understanding
  ridha;
• The principle of freedom of transaction is recognized as long as the object is lawful and good
  (thayib);
• Money only functions as a medium of exchange and a unit of measure of value.
  not as a commodity;
• Does not contain elements of usury;
• Does not contain elements of injustice;
• Does not contain elements of maysir;
• Does not contain elements of gharar;
• Does not contain any unclean elements;
• Does not adhere to the principle of the time value of money
  because the profits obtained in business activities are related to the risks inherent in these business activities in accordance with the principle of al-ghunmu bil ghurmi (no gain without accompanying risk);
• Transactions are carried out based on a clear and correct agreement and for the benefit of all parties without causing harm to other parties it is not permissible to use a double standard price for one contract and not to use two related concurrent transactions (ta'alluq) in one contract;
• There is no price distortion through demand engineering (najasy) or through supply engineering (ihtikar); And
• Does not contain elements of collusion with bribery (risywah). In addition, according to As-sa'dy there are rules in transactions, including:
  • usury forbidden,
  • Prohibition of transactions that contain elements of gharar and danger,
  • Prohibition of transactions that contain elements of fraud,
  • Transactions are carried out on the basis of mutual consent between the seller and the buyer,
  • Transactions are only carried out by the owner of the goods or a party that represents,
    If the contract contains elements that can leave something that is obligatory or violate something that is forbidden, then it is haraam and invalid.

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Advantages of Sharia Accounting

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  In terms of understanding

Islamic accounting is more directed at bookkeeping, data collection, work and business, then also calculations and debates (questions and answers) based on the conditions that have been set. agreed upon, and then the determination of rewards or rewards covering all actions and work, both worldly and hereafter.

Conventional accounting is about collecting and bookkeeping, research on information from various activities.

• In terms of goals

Islamic accounting aims to protect assets which are proof or evidence when a dispute occurs, helps direct wisdom, detailing business results for calculating zakat, determining the rights of business partners and also helping to determine rewards and punishments as well as work evaluation assessments and motivation

Conventional accounting explains accounts payable, profit and loss, monetary center and assists in making management decisions.

• In terms of characteristics

Islamic accounting is based on the values ​​of faith and morals. So it is the duty of an accountant to provide data to help the people concerned about the extent to which the relationship between the economic unit and Islamic sharia principles and laws in the field of muamalah.

A Muslim accountant is always aware that he must be responsible before Allah regarding his work, and he must not comply the desire of the capital owner (project owner) if there are steps to deviation from Allah's law and distorting facts (according data) accurate)

Conventional accounting is based on ordinances or regulations and theories made by humans who have the nature of mistakes, forgetfulness, limited knowledge and insight. So the concept is unstable and not permanent.

Accounting concepts, systems, and techniques that help an institution or organization to keep its functional and operational objectives in accordance with sharia provisions, can safeguard the rights of stakeholders in it, and encourage it to become an institution that can achieve the true welfare of the world hereafter.

• In terms of Capital

Capital in conventional accounting is divided into 2 parts, namely, fixed capital (fixed assets) and circulating capital (current assets).

In Islamic accounting, basic goods are divided into assets in the form of money (cash) and assets in the form of goods (stock), then goods are divided into property and trade goods.

• In terms of concept

Conventional accounting practices the theory of reserves and the accuracy of bearing all losses in calculations, as well as conveying probable profits.

Islamic accounting is very concerned about this by determining the value or price based on the prevailing exchange rate and forming reserves for possible dangers and risks.

• In terms of Principles

Conventional accounting applies the principle that profit only exists when there is a sale and purchase. Islamic accounting uses the belief that profit will exist when there is development and increase in the value of goods, whether they have been sold or not. However, buying and selling is a must to say profit, and profits cannot be divided before the actual profit is obtained.

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