Journal of Islamic Accounting and Finance Research
Journal of Islamic Accounting and Finance Research (JIAFR) is a peer-reviewed journal published twice a year (April and October) by the Department of Sharia Accounting Faculty of Islamic Economics and Business, Universitas Islam Negeri (UIN) Walisongo Semarang Indonesia. JIAFR aims to publish articles in the field of Islamic Accounting and Finance that provide a significant contribution to the development of accounting practices and professions in Indonesian even the world. JIAFR accepts both quantitative and qualitative approaches by English Language manuscripts relating to Islamic Financial Accounting, Management Accounting, Taxation, Islamic Behavior Accounting, Accounting Information System, Auditing, Public Sector Accounting, and Islamic Financial Performance.
Articles
170 Documents
<![CDATA[Investigate accounting practices by binte biluhuta sellers ]]>
<![CDATA[Mohamad Anwar Thalib]]>;
<![CDATA[Vindi Paputungan]]>;
<![CDATA[Widy Pratiwi Monantun]]>;
<![CDATA[Ulvarien Ismail]]>;
<![CDATA[Fatmawaty Damiti]]>;
<![CDATA[Faisal Abdullah]]>
<![CDATA[ Journal of Islamic Accounting and Finance Research Vol 5, No 1 (2023) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/jiafr.2023.5.1.15048
<![CDATA[Purpose - This study aims to investigate simple accounting practices focusing on earning income by binte biluhuta sellers based on the local wisdom values of the Gorontalo people.Method - This study uses an Islamic paradigm with an Islamic ethnomethodology approach. Futher, the study uses the qualitative approach through observation and interview, In addition, there are five data analysis stages: charity, knowledge, faith, revelation information, and courtesy.Result - The results of the study showed that sellers earned higher income during the holy month of Ramadan most of the time except pandemic (covid-19) and rainy season. Accounting for this income is conditional on the value of patience (sabari) and gratitude (mosukuru) to obtain blessed sustenance from Allah (The Almighty God).Implication - The results of this study presented the concept of income accounting by binte biluhuta sellers with local wisdom and Islamic religiosity values.Originality - This accounting study is the first to raise accounting practices by binte biluhuta sellers that are conditional on the local cultural and religious values of the Gorontalo people.]]>
<![CDATA[Performance of Indonesia Sharia companies: Does corporate ethical identity matter? ]]>
<![CDATA[Irma Hartyanti]]>;
<![CDATA[Puji Harto]]>;
<![CDATA[Chutima Wangbenmad]]>
<![CDATA[ Journal of Islamic Accounting and Finance Research Vol 5, No 2 (2023) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/jiafr.2023.5.2.17176
<![CDATA[Purpose - The development of Islamic finance has made many Indonesia sharia companies register themselves as part of the Indonesia Sharia Stock Index (ISSI). The government always encourages sharia economic growth that upholds ethics. From the Islamic perspective, ethics is the foundation of all aspects of life. This study aims to analyze the performance of Indonesia sharia companies, by linking the importance of Corporate Ethical Identity (CEI) which is implemented in corporate culture.Method - Quantitative research is reviewed through the annual reports of manufacturing companies registered at ISSI for the 2018 and 2019. Linear regression analysis, along with moderated regression analytics, was used to analyze data from 154 manufacturing companies.Result - The results of the study show that CEI has a positive influence on firm performance, and ownership structure as a moderating variable strengthens the influence of CEI on firm performance.Implication - Sharia companies in Indonesia are advised to increase CEI reporting so as to improve financial performance in accordance with sharia principles.Originality - This study represents the inaugural investigation into CEI within Islamic companies operating in Indonesia, with a specific emphasis on corporate culture. The novelty in this research is the focus on company culture, and what distinguishes it from the mentioned study is the utilization of the ownership structure concept as a moderating variable. It also incorporates the utilization of the ownership structure concept as a moderating variable.]]>
<![CDATA[Gender issues in local government accountability reports: insights from Islamic regions in Indonesia ]]>
<![CDATA[Habib Muhammad Shahib]]>;
<![CDATA[Nur Amanah]]>;
<![CDATA[Mohamed Omar Abdulrahim]]>
<![CDATA[ Journal of Islamic Accounting and Finance Research Vol 5, No 2 (2023) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/jiafr.2023.5.2.18062
<![CDATA[Purpose - The purpose of this research is to examine how the implementation of gender-friendly policies for women is reflected in local government accountability reports regarding the coherence of government policies-programs-reporting to the public, especially in Islamic areas, in the context of a democratic country like Indonesia.Method - The provincial governments of Aceh and West Sumatra were the main settings for this study, as they are the two main Islamic regions in Indonesia. This study used a qualitative content analysis approach to analyze the research data based on Accountability Reports in the span of 2017-2021, which was the primary data source for this research.Result - The results showed that the disclosure of gender issues in the accountability reports of the two provincial governments was still low, below 50% of the 18 indicator items used in this study. In addition, there is no standardized format for submitting government performance indicators and explanations.Implication - This research emphasizes that there is still a need for public encouragement for specific issues to receive an optimal policy share at the local government level.Originality - This is the first study known to examine Islamic values and gender disclosures in local government settings.]]>
<![CDATA[Bank social fund distribution and cost of profit-sharing investment account: evidence from Indonesia ]]>
<![CDATA[Prabowo Yudo Jayanto]]>;
<![CDATA[Hasan Mukhibad]]>;
<![CDATA[Nana Abdul Aziz]]>
<![CDATA[ Journal of Islamic Accounting and Finance Research Vol 5, No 2 (2023) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/jiafr.2023.5.2.16733
<![CDATA[Purpose - This study aims to prove the impact of the distribution of social funds (qardhul hasan-QH and zakah funds) on the cost of a Profit-Sharing Investment Account (PSIA) immediately and for a long period in Islamic banks.Method - The research is based on panel data from 11 Islamic commercial banks (IB) in Indonesia from 2009 to 2021. Data were analyzed using the generalized least squares (GLS) random-effects method with robust standard error.Result - This research proves that the distribution of social funds (the distribution of QH and zakah funds) has a positive economic impact in the short period but the distribution of social funds has a negative economic impact in the long period.Implication - This study contributes to bank directors in considering the social activities of banks funded by QH funds by considering the effectiveness of social fund distribution, hence having positive economic consequences for bank performance.Originality - This research contributes to the development of previous literature in two ways. First, we use CSR performance proxies that are different from previous studies, namely the distribution of QH and zakah funds. The distribution of these funds is a proof of the bank's legitimacy to care about social, economic, and environmental issues. Second, we use the cost of PSIA as an economic consequence of CSR performance.]]>
<![CDATA[Godly accountability: reflection on ethics for zakat accountants ]]>
<![CDATA[Faris Shalahuddin Zakiy]]>;
<![CDATA[Fitra Istianah Turahman]]>
<![CDATA[ Journal of Islamic Accounting and Finance Research Vol 5, No 2 (2023) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/jiafr.2023.5.2.17102
<![CDATA[Purpose - This research aims to explore the forms of accountability of zakat institutions and their importance and to uncover the meaning of accountability from zakat accountants.Method - To achieve this goal, this study uses qualitative methods with a phenomenological approach. There are three key informants interviewed in this study. Data analysis in this study was divided into four stages: bracketing, noema, noesis, and eidetic reduction.Result - This study found that accountability is reflected in financial reporting and accountability is essential for zakat institutions to increase good governance and trust in the community. Accountability can be interpreted as having faith and ethics, righteousness, accountability to God, and accountability to humans.Implication - Internalizing ethics to become a zakat accountant is more honest and professional and upholds integrity in carrying out its duties.Originality - This research discusses the meaning of accountability from zakat accountant’s perspective and forms of accountability in zakat institutions. Empirical findings can be used to develop insight into accountability in zakat institutions.]]>
<![CDATA[Determinant of corporate social responsibility in Islamic banking based on the Islamic social reporting index ]]>
<![CDATA[Fanana Firdaus Salsabilah]]>;
<![CDATA[Resfa Fitri]]>
<![CDATA[ Journal of Islamic Accounting and Finance Research Vol 5, No 2 (2023) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/jiafr.2023.5.2.17597
<![CDATA[Purpose - This study aims to determine the level of CSR comparison in sharia-compliant banking based on the Islamic Social Reporting Index indicators and analyze the factors influencing its disclosure.Method - This study is quantitative research using secondary data. Population of this study is 9 Islamic Banks in Indonesia in 2017-2021. The selection of samples in this study used purposive sampling. The data were analyzed using Panel Data regression analysis, Classic Assumption test, F-test, and T-test.Result - The results showed that two of the four variables thought to have an impact on ISR disclosure are found to have a significant impact. In contrast to leverage, which has a negative but considerable impact on ISR disclosure, company age has a positive and significant impact. The other two factors (profitability and company size) had less of an impact on ISR disclosure.Implication - Islamic Commercial Banks in Indonesia suggest to improve the financial performance in Corporate Social Responsibility with Isamic Social Reporting Index.Originality - This is a study to prove the effect of corporate social responsibility disclosure on the annual report of Islamic banks using the Islamic Social Reporting Index indicator.]]>
<![CDATA[Reflection of Al-Ghazali’s business ethics for tax consultants ]]>
<![CDATA[Fachrezzi, Bima Rafly]]>;
<![CDATA[Sulistiyanto, Deni Rachmad]]>;
<![CDATA[Jabbi, Muhammed Lamin]]>;
<![CDATA[Adamu, Ishiaka]]>
<![CDATA[ Journal of Islamic Accounting and Finance Research Vol 5, No 2 (2023) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/jiafr.2023.5.2.16068
<![CDATA[Purpose - The purpose of this study was to explore the application of the values of Al-Ghazali Islamic business ethics to tax consultants in Indonesia and to compare them with the Indonesian Tax Consultant Professional Code of Ethics.Method - This research approach uses phenomenology. There were 3 informants interviewed in the study consisting of tax consultants who are Muslim in Indonesia, fiscal authorities who are Muslim in Indonesia, and experts in the Islamic religion.Result - This research gives the result that the principle of integrity can be expanded in terms of its definition and meaning with the mujahadah component in Al-Mizan, so that the integrity referred to here is trying to keep away bad traits that are prohibited in Islam. Moreover, on the concept of al ihya', tax consultants have a main orientation to profit and the motivation to help taxpayers is still limited to improving the image of their consulting services business.Implication - The concept of Islamic Business Ethics by Al-Ghazali is a broader and deeper ethic so it is very appropriate if it is adapted to the Indonesian Tax Consultant Code of Ethics, especially regarding responsibility and motivation as servants of God.Originality - This research is the first study that used a phenomenological approach in uncovering the reflection of the concept of Islamic business ethics by Al-Ghazali on the implementation of a tax consultant's code of ethics.]]>
<![CDATA[Mauquf’alaih as a waqf accountability center (prophetic social approach) ]]>
<![CDATA[Siti Nur Ngaini]]>;
<![CDATA[Mahfud Sholihin]]>
<![CDATA[ Journal of Islamic Accounting and Finance Research Vol 5, No 2 (2023) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/jiafr.2023.5.2.16070
<![CDATA[Purpose - This study aims to explore Kuntowijoyo's prophetic social thinking to make mauquf ‘alaih the main focus of waqf accountability.Method - This research is a conceptual paper that attempts to construct the concept of waqf accountability in a prophetic social approach.Result - The author's opinion emphasizes the rights of the mauquf ‘alaih by highlighting how the accountability role of waqf needs to shift emphasis from serving stakeholders hierarchically to being re-engineered towards beneficiaries (mauquf ‘alaih). This requires a reconceptualization of the meaning of waqf, which must be seen as part of a wider effort to achieve social justice and the welfare of the ummah. In this case, the prophetic social value is considered as the conceptual framework.Implication - Theoretically and contextually prophetic social principles are able to give birth to a reorientation of waqf accountability towards deeper humanist and emancipatory realizations, as well as more holistic and religious accountability practices.Originality - This research is the first study that used prophetic sosial approach in waqf accountability.]]>
<![CDATA[Project’s cost-benefit analysis for social infrastucture in tertiary education sector with sharia financing and the interest of waqifs: an Indonesia perspective ]]>
<![CDATA[Surachman, Eko Nur]]>;
<![CDATA[Mauliana, Afia]]>;
<![CDATA[Yonimurwanto, Nugroho]]>
<![CDATA[ Journal of Islamic Accounting and Finance Research Vol 6, No 1 (2024) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/jiafr.2024.6.1.18644
<![CDATA[Purpose - This research was conducted to analyze how CWLS can be promising sources of infrastructure financing by presenting the benefit through the calculation of Cost-Benefit Analysis to the prospective waqifs.Method - This research used a mixed method: quantitative method using a Cost-Benefit Analysis (CBA) model by monetizing the costs and benefits of education infrastructure. CWLS is used as the source of financing to build it. Meanwhile, the qualitative method is conducted through focus group discussion to present and discuss the project benefit to the prospective waqifs.Result - The project delivered greater benefits in terms of positive NPV (IDR 937.437.495.257) and IRR (15,60%). The calculation attracts prospective waqifs that consider the non-monetary return in their investment, to invest in CWLS.Implication - The CWLS issuer should explain the greater benefits generated from the infrastructure financed by the CWLS to the prospective waqif. Cost-Benefit Analysis (CBA) is one of the tools to do it effectively.Originality - This study is one of a few studies exploring the CWLS instrument to finance public infrastructure, with its originality lying in the examination of the attractiveness of the CWLS to the prospective waqifs given the fact that the instrument offers zero profit in terms of financial return, but the beneficial reward from Allah SWT.]]>
<![CDATA[Creative accounting from an Islamic perspective: viewed from sadd al dzari’ah concept ]]>
<![CDATA[Istiariani, Irma]]>;
<![CDATA[Wahyuni, Andi Sri]]>;
<![CDATA[Amalia, Farah]]>
<![CDATA[ Journal of Islamic Accounting and Finance Research Vol 6, No 1 (2024) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/jiafr.2024.6.1.19963
<![CDATA[Purpose - This study aims to determine how Islamic Perspective views creative accounting practices that have been happening in Indonesia if viewed from the Sadd Al dzari`ah ConceptMethod - The method used in this research is qualitative with a library research approach. The case discussed in this study is creative accounting conducted by many companies in Indonesia, as viewed from the Sadd Al dzari`ah Concept.Result - The results of this study shows that creative accounting practices in many companies in Indonesia are not follow Islamic perspectives if viewed from the Sadd Al dzari`ah Concept.Implication - This research emphasizes that management should always identify all creative accounting techniques to avoid the occurrence of creative accounting.Originality - Similar research related to creative accounting has been conducted. Still, the research about creative accounting has been widely reviewed from the Islam perspective, especially Sadd Al dzari`ah concept, which has never been done. This research contributes to how creative accounting practices are viewed from the Islamic prespective, especially from the Sadd Al dzari`ah concept.]]>
