PSAK 409 : Akuntansi Zakat dan Infak/Sedekah

Summary

This lecture provides a comprehensive overview of accounting for zakat, infak, and sedekah under PSHK 409, focusing on the roles and responsibilities of amil (fund managers) and the proper classification of funds. It explains key concepts such as mustahik (eligible recipients), muzaki (donors), nisab (minimum zakat threshold), and ujrah (management fees). The session details the recognition, measurement, and reporting of cash and non-cash contributions, the treatment of infak and sedekah in revolving schemes, and the handling of non-halal funds. It also outlines methods for assessing financial performance, customer engagement, operational efficiency, and staff productivity in Islamic charitable institutions.

Takeaways

• 😀 PSAK 409 applies to entities that manage zakat, infak, or sedekah, while entities whose primary activity is not amil are not covered.
• 😀 Amil is the entity responsible for collecting and distributing zakat, while zakat, infak, and sedekah funds are designated for various categories, such as operational costs or direct aid.
• 😀 Mustahik refers to individuals or entities entitled to receive zakat, such as the poor, debtors, converts to Islam, and those in need for the sake of Allah.
• 😀 Muzaki are Muslims required by Islamic law to pay zakat to those eligible (mustahik). Zakat is given when the recipient meets the necessary criteria.
• 😀 Amil can receive ujrah (compensation) for their work in distributing zakat, which is separate from the zakat itself, ensuring their operational costs are covered.
• 😀 Zakat is recognized when received in cash or assets, and non-cash zakat is measured at fair value. If muzaki specifies a mustahik, amil does not receive a portion of the zakat.
• 😀 If amil is negligent, a reduction in zakat funds occurs, while negligence on the part of amil leads to a reduction in amil’s portion.
• 😀 Amil is allowed to borrow zakat funds temporarily, but the loan must not exceed one ‘haul’ (Islamic year).
• 😀 Non-halal funds, such as those from conventional bank interest, must be treated separately and used in accordance with Sharia principles.
• 😀 Amil entities must report zakat, infak, and sedekah funds separately in their financial statements, showing transparency in how funds are distributed and managed.
• 😀 The performance measurement for zakat institutions includes evaluating their success in acquiring, retaining, and satisfying muzaki, alongside innovations and operational improvements.

Q & A

What is PSAK 409 and to whom does it apply?

PSAK 409 is the Indonesian Financial Accounting Standard that regulates the accounting for zakat, infak, and sedekah. It applies to amil organizations that receive and distribute these funds as their main activity.

Who is considered an amil according to PSAK 409?

An amil is an entity responsible for managing zakat, infak, or sedekah. They collect and distribute the funds according to sharia principles and can receive ujrah (compensation) for their services.

What is the difference between dana amil, dana zakat, and dana infak/sedekah?

Dana amil is used to cover the operational costs of the amil. Dana zakat is non-amil funds received as zakat, meant for mustahik. Dana infak/sedekah are non-amil funds received as infak or sedekah, also intended for distribution to the rightful recipients.

Who are considered mustahik?

Mustahik are those eligible to receive zakat, including the fakir, miskin, riqab (slaves), gharim (debtors), mualaf (new converts), fisabilillah (those in the path of Allah), Ibnu Sabil (travelers in need), and amil themselves if eligible.

When is zakat recognized as received by an amil?

Zakat is recognized when cash or other assets are received. Cash is recorded at the received amount, while non-cash assets are recognized at fair value.

What is ujrah and how is it accounted for?

Ujrah is the compensation an amil receives for managing and distributing zakat. It is recognized as an addition to dana amil and must come from sources outside of the zakat funds.

How should amil record zakat that is distributed through another amil but not yet received by the mustahik?

Zakat distributed through another amil but not yet received by the mustahik is recorded as a 'piutang penyaluran' (receivable for distribution) by the first amil, and as a liability for the receiving amil.

How is non-halal income treated by amil organizations?

Non-halal income, such as interest from conventional banks, is recorded separately from zakat funds and is generally used for public benefit projects in accordance with sharia principles.

What are the main components of an amil’s financial statements?

An amil's financial statements include assets (cash, financial instruments, receivables, fixed assets), liabilities, and fund balances for zakat, infak/sedekah, amil funds, and non-halal funds. The statements also track changes in these funds over time.

How is performance of a zakat institution measured according to the script?

Performance is measured across several perspectives: financial (receipt vs target), customer (acquisition, retention, and satisfaction of muzaki and mustahik), internal processes (innovation and program realization), operational efficiency (productivity and growth), and human resources (employee retention and productivity per staff).

What is the accounting treatment for infak/sedekah distributed in a revolving fund scheme?

Infak or sedekah distributed to end recipients in a revolving fund scheme is recorded as a receivable (piutang) and does not reduce the total infak/sedekah funds held by the amil.

Can amil organizations borrow zakat funds, and under what conditions?

Yes, amil organizations may borrow zakat funds to help collect more zakat. However, these loans must be short-term and cannot exceed one haul period (one lunar year).