Analysis of the Application of Waqf Accounting in the Management of Productive Waqf Assets
DOI:
https://doi.org/10.35335/fx0ax791Keywords:
Waqf Accounting, Productive Waqf Assets, PSAK 112, Islamic Financial Management, Transparency and AccountabilityAbstract
This research aims to analyze the application of waqf accounting in the management of productive waqf assets, with a focus on evaluating the implementation of accounting standards such as PSAK 112 and identifying challenges faced by waqf institutions. Using a qualitative descriptive approach, data were collected through interviews with waqf managers and analysis of institutional financial documents. The findings reveal that while the importance of transparent and accountable financial reporting is widely recognized, the actual application of standardized waqf accounting remains inconsistent across institutions. Key challenges include limited human resource capacity, inadequate technological infrastructure, lack of regulatory enforcement, and resistance to organizational change. However, several institutions demonstrate best practices by adopting digital accounting systems and adhering to PSAK 112, resulting in improved asset utilization and stakeholder trust. The study concludes that proper waqf accounting is essential for optimizing the performance of productive waqf assets and aligning waqf management with Islamic ethical principles of amanah, muhasabah, and ‘adl. Strengthening accounting practices is thus crucial for enhancing the effectiveness, transparency, and sustainability of waqf as a tool for socio-economic development.References
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