ch 4 jurnal 1

Summary

This video tutorial focuses on the accounting procedures for zakat, infaq, alms, and grants, with a detailed explanation of transaction journaling. The content emphasizes the use of specific account codes and financial reporting as per Presidential Decree Number 5 of 2018. The instructor explains how to record zakat receipts in both cash and goods, as well as the different types of infaq and alms, including bound and unbound donations. The video also covers grants and funds from APBN/APBD, highlighting practical examples to ensure accurate and transparent financial management.

Takeaways

• 😀 The lesson focuses on journaling transactions for zakat, infaq, alms, grants, and related funds.
• 😀 Zakat management follows business regulations (Presidential Decree No. 5 of 2018) and PSAK No. 109 for zakat-related accounting.
• 😀 Zakat receipts can come in various forms such as cash or goods, and each form requires different journal entries.
• 😀 Zakat transactions are categorized based on the type of zakat (e.g., zakat fitrah, zakat mal, zakat profession).
• 😀 Zakat received in goods (e.g., rice or livestock) is journalized by valuing the goods in monetary terms.
• 😀 Infaq and alms can be categorized into 'bound' (for a specific purpose) and 'unbound' (for general use).
• 😀 Bound infaq and alms must be used as designated by the donor (e.g., educational programs, social services).
• 😀 Grants received in the form of cash or goods (e.g., laptops or office equipment) are journalized based on their intended use.
• 😀 Government grants (APBN/APBD funds) can be used for operational costs or specific programs and must be journalized accordingly.
• 😀 Transactions involving giro services (e.g., bank interest or returns) are also recorded in the zakat institution's financial accounts.
• 😀 When receiving in-kind donations (like gold or livestock), the market value is calculated to determine the monetary value for journal entries.

Q & A

What is the main objective of the lesson presented in the video?

The main objective is to teach how to journal transactions related to zakat, infaq, alms, grants, and other similar financial activities. The lesson also covers how to organize and report the distribution of these funds.

Which regulatory framework is referred to in this lesson for zakat management?

The lesson refers to Presidential Decree Number 5 of 2018 and PSAK Number 109 concerning zakat, infaq, and alms. These provide the basis for the accounting and financial reporting practices in zakat management.

How is zakat received in the form of cash recorded in the accounting journal?

When zakat is received in cash, it is recorded by debiting the cash or bank account (coded 11001) and crediting the 'Zakat Receipt' account. This follows the standard procedure in Presidential Decree Number 5.

What happens if zakat is received in the form of goods rather than cash?

If zakat is received in the form of goods (e.g., rice, livestock), the transaction is recorded by debiting the 'Inventory' account and crediting the 'Zakat Receipt' account, with the value of the goods converted into monetary terms.

What is the procedure for handling zakat donations from different sources such as individuals or entities?

Zakat donations are categorized based on the source: if received from an individual, it is recorded under 'Individual Zakat Receipt' (41021). If received from an entity, it is recorded under 'Entity Zakat Receipt.' The type of zakat (e.g., zakat fitrah, zakat mal) is less rigid and depends on the institution's policy.

What should be done when the value of zakat received in goods is not immediately clear?

If the value of zakat in goods is unclear, the fair market value of the items can be determined. For example, the price per kilogram of rice can be used to calculate the total value of the zakat received.

What is the difference between bound and unbound infaq and alms?

Bound infaq and alms are those where the donor specifies how the funds should be used (e.g., for education). Unbound infaq and alms have no specified purpose and are more flexible in their use.

How are bound infaq and alms recorded in the journal?

When bound infaq or alms are received, they are recorded by debiting the cash or bank account and crediting a specific 'Bound Alms/Donation' account, indicating the purpose or program designated by the donor (e.g., education, social, religious activities).

How is a grant received by an institution (e.g., a zakat amil organization) recorded in the journal?

When a grant is received, it is recorded by debiting the cash or bank account and crediting the 'Grant Receipt' account. If the grant is for a specific entity (e.g., an organization), it is categorized under 'Entity Grant Receipt.' If it's for an individual, it is under 'Individual Grant Receipt.'

How is an APBN or APBD fund received and recorded by a zakat amil institution?

When APBN or APBD funds are received, the journal records the transaction by debiting the cash or bank account and crediting the 'APBN/APBD Receipt' account. These funds are typically used for operational expenses or specific activities, such as paying staff salaries or purchasing assets.