ANALYSIS OF THE IMPLEMENTATION OF FINANCIAL ACCOUNTING STANDARDS STATEMENT (PSAK) 402 ON MURABAHAH FINANCING IN SHARIA COOPERATIVE: EVIDENCE IN KSPPS BMT HIRA SRAGEN

Abstract

The development of the Islamic financial services industry in Indonesia shows a positive increase, with
many Islamic cooperatives being established. One of the commonly used financing products is financing
with a Murabahah contract, where Islamic cooperatives provide financing or purchase goods needed by
members plus an agreed profit margin. However, the application of accounting in this transaction often
faces challenges, especially in terms of compliance with applicable accounting standards, such as PSAK
402. PSAK 402 regulates accounting for murabahah transactions, which aims to increase transparency
and accountability in the financial statements of Islamic cooperatives. This study aims to analyze the
suitability of the application of the murabahah financing accounting system at KSPPS BMT Hira Sragen
with PSAK 402. The data sources in this study are primary data through direct interviews with
cooperative managers and secondary data obtained indirectly through intermediary media based on
reports from other people in the form of balance sheets, profit and loss reports, financial statements,
examples of contracts, journals, and articles related to the case study being studied. Data analysis in this
study uses a qualitative descriptive approach. The results of the study indicate that the application of
sharia accounting for murabahah financing at KSPPS BMT Hira Sragen is not fully in accordance with
PSAK 402.