The Analysis of SFAS 102 Application in BMT Itqan in Relation to the Murabahah

Abstract

Banks or Financial Institutions Sharia in murabaha financing should not lend money to customers and asking the customer to buy their own items needed directly from the seller. In practice, the bank represents the purchase of goods from the seller to the final buyer, or customer. In this case, the bank is considered to buy and have the goods and then sells to customers with tough murabaha, or sale by installments (installment sales). Violation on a murabaha transaction in substance does not stop here, in terms of goods traded unclear, because the purchase of goods is the customer and the bank itself only as a lender of money. In terms of profit-determination is also still not in accordance with the applicable accounting standards at this time. The purposes of this study are to (1) determine the accounting treatment of murabaha financing under SFAS 102; (2) determine the implementation of murabaha financing at BMT Itqan; and (3) analyze the application of SFAS 102 on murabaha financing at BMT itQan. This research used descriptive research method with qualitative analysis. Based on the research results, the financing murabaha in BMT Itqan already adopted SFAS 102 only murabaha financing revenue recognition is still referred to in SFAS 102 before the revision, where financing murabaha installment in the calculation of revenue recognition is still using the proportional method that each installment period equal value.