1.Basis of Islamic Accounting Theory The history of the birth of Islamic accounting is inseparable from the...
Question:
1.Basis of Islamic Accounting Theory
The history of the birth of Islamic accounting is inseparable from the development of Islam, the obligation to record non-cash transactions (see QS. Al-Baqarah: 282), encouraging Muslims to care about recording in accordance with the provisions of Islamic sharia.
Sawarjuwono (1997) states that the history of accounting which is always introduced that it was discovered in Italy by Lucas Pacioli (1494) is incorrect. Sawarjuwono (1997) indicates that accounting actually comes from Islam. Accounting developed and spread along with the spread of Arab trade which can be indicated as the spread of Islam. While they were trading at the same time they taught them how to record their trading activities, which furthermore it was suspected that this was the origin of trade bookkeeping.
Furthermore, the development of Islamic Bank Financial Accounting Standards began in 1987.The result was the formation of the Financial Accounting Organization for Islamic Banks and Financial Institutions (the Organization) on February 26, 1990 which subsequently changed its name to The Accounting and Auditing Organization for Islamic Financial Institutions ( AAOIFI) which was later legalized as an independent non-profit organization in Bahrain on March 27, 1991
Question:
*Analyze the relationship between Islamic accounting and modern accounting!
2.Bank Syariah Zamzam (BSZ) entered into a sale and purchase transaction of an SUV with a customer named Mrs. Anisa. Bank Syariah Zamzam (BSZ) places an order for an SUV from a Baraqa Dealer. After an agreement was made, on June 1, Bank Syariah Zamzam (BSZ) purchased an SUV from a Baraqa Dealer for IDR 200,000,000. Furthermore, on June 5, Bank Syariah Zamzam (BSZ) entered into an agreement with Mrs. Anisa for the sale and purchase transaction of an SUV with an agreed profit of Rp.20,000,000. 5, amounting to IDR 22,000,000 (in bank administration, each installment is distributed for principal installments of IDR 20,000,000 and for margin payments of IDR 2,000,000). On July 5, Mrs. Anisa made the first installment payment.
Question:
In your opinion, what transaction principles were used in the above transaction? Next, you are asked to journal the transactions carried out by the Zamzam Syariah Bank according to the time sequence of events!