Analysis of Application of SFAS No. 102 To Murabahah At the Islamic Cooperative Financial Services Kalbar Madani Pontianak

Abstract

ABSTRACT

Analysis of Application of SFAS No. 102 To Murabahah At the Islamic Cooperative Financial Services Kalbar Madani Pontianak

Murabahah is one of islamic financing product. IAI (Indonesia Accountant Association) has published Statement of Financial Accounting Standard (SFAS) No. 102 about murabahah transaction. This study aimed to discover the implementation of SFAS No. 102 for murabahah in KJKS Kalbar Madani Pontianak. The role of the researcher was as the planner to collect the data and information to analyze, and to report the result. Data obtained from this research was from primary and secondary data. This was a qualitative research by applying descriptive method.

The result of this study is that SFAS No. 102 for murabahah was not full applied in KJKS Kalbar Madani of Pontianak. The characteristic, presentation, and disclosure of murabahah were suitable with SFAS No. 102. But definition, recognition, and measurement of murabahah were not consistent yet with SFAS No. 102. Moreover, KJKS Kalbar Madani Pontianak gave only certain amount of money to clients who applied for murabahah, in contrast with the concept of murabahah in SFAS No. 102, it was a products trading with selling price as much as cost price added by profit, and the seller had to be transparently reveal the cost  price to the buyer.

Keywords: SFAS No. 102, Murabahah.