Rangkuman Bab 14 Fiqih Zakat (PSAK 104) PDF

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Only some part of chapter 14
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ACCOUNTING TREATMENT (PSAK 109) PSAK 109 is about amil who received and distributed zakat and infaq/sedekah . This PSAK must be applied by amil who get permission from regulator. Amil who didn’t ger permission also can applying this PSAK. PSAK 109 related to several fatwa MUI: 1. Fatwa MUI No. 8/2011 tentang Amil Zakat . It is explain criteria, amil zakat task and amil zakat activities’ operational expense assessment that received from amil part or fisabilillah part in reasonable limit, proportional and in accordance with Islamic principles. 2. Fatwa MUI No. 13/2011 tentang Hukum Zakat atas Harta Haram. Zakat should be done from halal assets. 3. Fatwa MUI No. 14/2011 tentang Penyaluran Harta Zakat dalam bentuk Aset Kelolaan. Asset under management is infrastructure held by zakat asset and physically managed by management as vice zakat mustahik, in another hand the benefits earmarked for zakat mustahik. 4. Fatwa MUI No. 15/2011 tentang Penarikan, Pemeliharaan dan Penyaluran Harta Zakat. Zakat amil task is to collect, maintain and distribute zakat. Accounting for Zakat 1. Zakat acceptance recognized when cash/non-cash asset received. Dr. Cash/Non-cash asset XXX Cr. Zakat XXX 2. If there is amil’s transferring zakat ujrah/fee, it is recognized as amil’s additional fund. Dr. Cash XXX Cr. Amil Fund XXX 3. Decrease in zakat asset value. Dr. Decrease in Asset Value/Loss of Decreasing Value-Amil Fund XXX Cr. Non-cash asset XXX 4. Zakat transferred to mustahik recognized as decrease in zakat fund. Dr. Zakat Distribution-Amil Fund XXX Dr. Zakat Distribution-Non-Amil Mustahik XXX Cr. Cash/Non-cash Asset XXX 5. Amil has a right to take part of zakat for operational expense. Dr. Expense-Fisabilillah Fund XXX Cr. Cash XXX 6. Zakat rising and distribution should be taken from amil’s portion. Dr. Expense-Amil Fund XXX Cr. Cash XXX 7. Journal when zakat distributed through other amil. Dr. Account Receiveble of Zakat Distribution XXX Cr. Cash XXX When other amil distributes zakat to non-amil mustahik. Dr. Zakat Distribution-Mustahik XXX Cr. Account Receiveble of Zakat Distribution XXX Ujrah payment to other amil. Dr. Expense-Amil Fund XXX

Cr. Cash XXX 8. Zakat distributed in fixed asset form, recognized as: a. Overall zakat distribution Purchasing fixed asset Dr. Fixed Asset XXX Cr. Cash XXX Fixed asset distribution Dr. Zakat Distribution-Mustahik XXX Cr. Fixed Asset XXX b. Gradual zakat distribution Purchasing fixed asset Dr. Fixed Asset XXX Cr. Cash XXX Fixed asset’s gradual distribution Dr. Zakat Distribution-Depreciation Expense XXX Cr. Accumulated Depreciation XXX When fully distributed Dr. Accumulated Depreciation XXX Cr. Fixed Asset XXX 9. Amil should state several things about zakat transaction. It is not limited to: a. Zakat distribution regulations. b. Zakat distribution regulations for amil and nonamil mustahiq. c. The fair value determination method being used to receiving zakat in noncash asset form. d. The details of total zakat fund distributed for each mustahik. e. The use of zakat fund in assets under management form that managed by amil or other parties who managed by amil, if it is available, the total and percentage stated to the all zakat fund distribution with the reasons, and f. Related parties relationship between amil and mustahik which include: 1) Special relationship tendency; 2) Total and type of asset distributed; and 3) Percentage of every distributed asset from total distribution in a period. g. The existence of nonhalal fund. h. Amil performance in collecting and distribute zakat fund and infaq/sedekah fund. Accounting for Infaq/Sedekah 1. Infaq/sedekah acceptance recognized when cash/non-cash current asset received. Dr. Cash/Non-cash – Current Asset XXX Cr. Infaq/Sedekah XXX 2. Non-current asset received for being managed by amil valued in fair value and recognized as infaq/sedekah non-current asset. Dr. Non-cash – Non-current Asset XXX Cr. Infaq/Sedekah XXX Dr. Infaq/sedekah distribution – Depreciation Expense XXX Cr. Accumulated Depreciation XXX 3. Decrease in zakat asset value.

Dr. Decrease in Asset Value/Loss of Decreasing Value-Amil Fund XXX Cr. Non-cash asset XXX 4. Fund management recognized as infaq/sedekah additional fund. Dr. Cash XXX Cr. Management Revenue – Infaq/Sedekah XXX 5. Infaq/sedakah distribution recognized as decrease in infaq/sedekah fund. Dr. Infaq/Sedekah Distribution XXX Cr. Cash/Non-cash Asset XXX 6. Infaq/sedekah distributed by amil to another amil decreased infaq/sedekah fund. Dr. Infaq/Sedekah Distribution XXX Cr. Cash XXX 7. Infaq/sedekah distributed to the last receiver in revolving fund scheme recorded as: Dr. Account Receivable – Revolving Fund XXX Cr. Cash XXX 8. Amil should state several things about infaq/sedekah transaction, but not limited to: a. Infaq/sedekah distribution regulations. b. Infaq/sedekah distribution regulations for amil and nonamil mustahiq. c. The fair value determination method being used to receiving infaq/sedekah in noncash asset form. d. The availability of infaq/sedekah fund which indirectly distributed but being managed first, if it is available, the total and percentage of infaq/sedekah in a period should be stated with the reasons, e. The result from (d) should be reported separately. f. The use of infaq/sedekah fund became assets under management form for the rightful party, if it is available, the total and percentage using of all infaq/sedekah with the reasons. g. The details of infaq/sedekah fund based on the designation, attached and not attached; and h. Related parties relationship between amil and mustahik which include: i. Special relationship tendency; ii. Total and type of asset distributed; and iii. Percentage of every distributed asset from total distribution in a period. i. The existence of nonhalal fund. j. Amil performance in collecting and distribute zakat fund and infaq/sedekah fund. Financial Statement of Amil Institution Amil separately stated zakat, infaq/sedekah, amil and nonhalal funds in balance sheet. Financial statement of amil consist of: 1. Balance Sheet Balance Sheet BAZ “XYZ” Account Rp Account Rp Asset Liabilities Current Asset Short-Term Liabilities Cash and Cash Equivalents xxx Accrued Cost xxx Account Receivable xxx Long-Term Liabilities

Stock Non-current Asset Fixed Asset Accumulated Depreciation Total Assets

xxx xxx (xxx ) xxx

Wage Liabilities Total Liabilities Funds Balance

xxx xxx

Zakat Fund

xxx

Infaq/Sedekah Fund Amil Fund Total Finds Total Liabilities and Funds Balance

xxx xxx xxx xxx

2. Statement of Changes in Fund Statement of Changes in Fund BAZ “XYZ” Account ZAKAT FUND Revenue Revenue from Muzakki Muzakki Entity Muzakki Individual Placement Result Total Revenue Distribution Amil The Poor Riqab Gharim Muallaf Sabilillah Ibnu Sabil Utilization of Assets Under Management Allocation (example: depreciation expense) Total Distribution Surplus (Deficit) Beginning Balance Last Balance

Rp

xxx xxx xxx xxx

(xxx) (xxx) (xxx) (xxx) (xxx) (xxx) (xxx) (xxx) (xxx) xxx xxx xxx

INFAQ/SEDEKAH FUND Revenue Attached Infaq/Sedekah Non-attached Infaq/Sedekah Management Result Total Revenue

xxx xxx xxx xxx

Distribution Amil Attached Infaq/Sedekah Non-attached Infaq/Sedekah

(xxx) (xxx) (xxx)

Utilization of Assets Under Management Allocation (example: depreciation expense) Total Distribution Surplus (Deficit) Beginning Balance Last Balance

(xxx) (xxx) xxx xxx xxx

AMIL FUND Revenue Amil Part of Zakat Fund Amil Part of Infaq/Sedekah Fund Other Revenue Total Revenue Utilization Employee Expense Depreciation Expense General and Other Administration Expense Total Utilizaion Surplus (Deficit) Beginning Balance Last Balance Total Zakat, Infaq/Sedekah and Amil Fund Balance

xxx xxx xxx xxx (xxx) (xxx) (xxx) (xxx) xxx xxx xxx xxx

3. Report on Changes in Underlying Assets Account Infaq/Sedeka h Fund – Current Asset Under Management Infaq/Sedeka h Fund – Non-Current Asset Under Management Zakat Fund – Asset Under Management

Beginning Balance

Plus

Minus

Accumulate d Depreciation

Accumulate d Allowance

Last Balance

xxx

xxx

(xxx)

-

(xxx)

xxx

xxx

xxx

(xxx)

(xxx)

-

xxx

xxx

xxx

(xxx)

(xxx)

-

xxx

4. Cash Flow Statement 5. Notes of Financial Statements...