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Islamic Social Reporting and Financial Distress In List of Sharia Securities Utari Evy Cahyani; Misnen Ardiansyah; Sunaryati Sunaryati
IQTISHADIA Vol 13, No 2 (2020): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v13i2.7756

The number of sharia-approved companies in the Indonesia Stock Exchange is growing rapidly. It is important to see how the social performance of these companies, using Islamic Social Reporting Index (ISR Index). Financial Distress as an early sign of a company’s failure is also important to study. This study examines the relation between ISR Index and financial distress in list of sharia securities. The control variables apply in this research are SIZE, ROA, CR, WCTR, DER, and RETA. By using a sample of 129 companies from financial statements and annual reports (2014-2018), three models were built with the Modified Altmans Z-Score, Ohlson O-Score and Zmijewski Zm-Score as a proxy of financial distress. Based on ISR index calculation, the theme of products and services has the highest disclosure score. The lowest disclosure score is corporate governance theme. Panel data regression results show that ISR Index affects financial distress in the Modified Altman’s model. It means the higher the ISR index value, the greater the likelihood of companies run into financial distress. Whereas in Ohlson’s and Zmijewski’s model, ISR Index has no effect on financial distress.

Adoption of the AAOIFI International Code of Ethics for Indonesian Islamic Accountants R. Ibnu Haitam; Misnen Ardiansyah; Mohammad Salim
IKONOMIKA Vol 6, No 2 (2021)
Publisher : Universitas Islam Negeri Raden Intan Lampung

Accounting scandals against standards still occur in Indonesia. The Indonesian Islamic accounting code of ethics needs to be formulated in line with the development of Islamic accounting practices in Indonesia. The preparation of the Islamic accounting code of ethics needs to adopt the AAOIFI International Islamic accounting organization code of ethics. This study aims to describe the recommendations of scholars regarding the adoption of the AAOIFI code of ethics for Indonesian Islamic accountants. This research uses a qualitative type prioritizing interview techniques in collecting data. The study used the AAOIFI code of ethics through interviews with ulama (scholar) from the Indonesian Ulema Council (MUI). The results of this study are the adoption of the AAOIFI code of ethics provides guidelines for the preparation of a code of ethics for Indonesian Islamic accountants. The preparation of the code of ethics for Islamic accountants applies Islamic law in order to provide solutions to contemporary modern problems. The adoption of the AAOIFI International Code of Ethics takes into account the Indonesian urf am so that it is in accordance with existing financial accounting practices.

Islamic Social Reporting and Financial Distress In List of Sharia Securities Utari Evy Cahyani; Misnen Ardiansyah; Sunaryati Sunaryati
IQTISHADIA Vol 13, No 2 (2020): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v13i2.7756

The number of sharia-approved companies in the Indonesia Stock Exchange is growing rapidly. It is important to see how the social performance of these companies, using Islamic Social Reporting Index (ISR Index). Financial Distress as an early sign of a company’s failure is also important to study. This study examines the relation between ISR Index and financial distress in list of sharia securities. The control variables apply in this research are SIZE, ROA, CR, WCTR, DER, and RETA. By using a sample of 129 companies from financial statements and annual reports (2014-2018), three models were built with the Modified Altmans Z-Score, Ohlson O-Score and Zmijewski Zm-Score as a proxy of financial distress. Based on ISR index calculation, the theme of products and services has the highest disclosure score. The lowest disclosure score is corporate governance theme. Panel data regression results show that ISR Index affects financial distress in the Modified Altman’s model. It means the higher the ISR index value, the greater the likelihood of companies run into financial distress. Whereas in Ohlson’s and Zmijewski’s model, ISR Index has no effect on financial distress.

Adopsi Kode Etik Internasional AAOIFI bagi Akuntan Islam Indonesia R. Ibnu Haitam; Misnen Ardiansyah
Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol 5 No 2 (2023): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Research and Strategic Studies Center (Pusat Riset dan Kajian Strategis) Fakultas Syariah IAI Nasional Laa Roiba

Various accounting scandals, financial cases and unethical practices violating laws and standards still occur today in Indonesia. Indonesia's code of ethics for Islamic accounting needs to be formulated in line with the development of sharia accounting practices that are widespread in the world of Islamic banking and Indonesia's dynamic sharia economy with high complexity. Indonesia's Islamic sharia accounting code of ethics needs to adopt a code of ethics compiled by international experts in the global Islamic accountant organization AAOIFI as a drafting reference. The research uses an interactive qualitative type that advances interview techniques to collect data from scholars. The primary source of research uses the code of ethics issued by AAOIFI and through interviews with Islamic accounting expert from IAI and ulama (scholars) in the Indonesian Ulema Council (MUI). The principles of the AAOIFI code of ethics include taqwa, tawakal, amanah, sidiq. quwwah and tawasi bil haq. The adoption of a code of ethics for Indonesian Islamic accountants is an important matter of duplicating the virtues in modern applicants, namely applying Islamic law in order to provide solutions and guidance in contemporary modern problems. The preparation of a code of ethics for Indonesian Islamic accountants requires the Islamic accountant profession in the complex modern world needs to pay attention to urf am and urf khas so that it will give great benefits because until now the Indonesian Islamic accountant profession does not have a professional code of ethics. Keywords: Islamic Accounting, Code of Ethics, Accountants

Impact of Zakat-Based Business Capital on Mustahiq's Welfare Post-Disaster in Sigi Regency Uswatun Hasanah; Syamsul Anwar; Misnen Ardiansyah
Signifikan: Jurnal Ilmu Ekonomi Vol 12, No 1 (2023)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v12i1.25178

This study investigates the BAZNAS Microfinance Desa (BMD) Sigi program’s impacts on the material and spiritual well-being of the Mustahiq (zakat beneficiaries). The quantitative CIBEST model and qualitative observation were performed on 100 households recruited using a random sampling technique. The results show that BMD Sigi’s program positively impacted Mustahiq’s material and spiritual well-being, with increases of 35.39% and 10%, respectively. The welfare index rose 19%, and the material poverty index fell by 1%. Both spiritual poverty and the absolute index fell by 6% and 12%, respectively. Our direct observation further supports the quantitative findings, showing that monitoring and technical support provided by BMD Sigi is crucial for the successful implementation of the program. This study contributes to the novelty of measuring the impact of zakat distribution on productive means using quantitative and qualitative approaches with particular evidence from a post-disaster area.JEL Classification: D64, I38, L31, Z12How to Cite:Hasanah, U., Anwar, S., & Ardiansyah, M. (2023). Impact of Zakat-Based Business Capital on Mustahiq’s Welfare Post-Disaster in Sigi Regency. Signifikan: Jurnal Ilmu Ekonomi, 12(1), 175-190. https://doi.org/10.15408/sjie.v12i1.25178.

ADOPTION OF AAOIFI INTERNATIONAL CODE OF ETHICS FOR INDONESIAN ISLAMIC ACCOUNTANTS R. Ibnu Haitam; Misnen Ardiansyah
Jurnal RAK (Riset Akuntansi Keuangan) Vol. 7 No. 1 (2022): JURNAL RAK (RISET AKUNTANSI KEUANGAN)
Publisher : Accounting Department Faculty of Economics, Universitas Tidar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31002/rak.v7i1.443

Indonesia's Islamic sharia accounting code of ethics needs to adopt a code of ethics compiled by international experts in the global Islamic accountant organization AAOIFI as a drafting reference. The research uses an interactive qualitative type that advances interview techniques to collect data from scholars. The primary source of research uses the code of ethics issued by AAOIFI and through interviews with IAI Islamic accountants, accounting practitioners and scholars in the MUI. The principles of the AAOIFI code of ethics include taqwa, tawakal, amanah, sidiq. quwwah and tawasi bil haq. The adoption of a code of ethics for Indonesian Islamic accountants is an important matter of duplicating the virtues in modern applicants, namely applying Islamic law in order to provide solutions and guidance in contemporary modern problems. The preparation of a code of ethics for Indonesian Islamic accountants requires the Islamic accountant profession in the complex modern world needs to pay attention to urf am and urf khas so that it will give great benefits because until now the Indonesian Islamic accountant profession does not have a professional code of ethics.

Adoption of the AAOIFI International Code of Ethics for Indonesian Islamic Accountants R. Ibnu Haitam; Misnen Ardiansyah; Mohammad Salim
IKONOMIKA Vol 6, No 2 (2021)
Publisher : Universitas Islam Negeri Raden Intan Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24042/febi.v6i2.11528

Accounting scandals against standards still occur in Indonesia. The Indonesian Islamic accounting code of ethics needs to be formulated in line with the development of Islamic accounting practices in Indonesia. The preparation of the Islamic accounting code of ethics needs to adopt the AAOIFI International Islamic accounting organization code of ethics. This study aims to describe the recommendations of scholars regarding the adoption of the AAOIFI code of ethics for Indonesian Islamic accountants. This research uses a qualitative type prioritizing interview techniques in collecting data. The study used the AAOIFI code of ethics through interviews with ulama (scholar) from the Indonesian Ulema Council (MUI). The results of this study are the adoption of the AAOIFI code of ethics provides guidelines for the preparation of a code of ethics for Indonesian Islamic accountants. The preparation of the code of ethics for Islamic accountants applies Islamic law in order to provide solutions to contemporary modern problems. The adoption of the AAOIFI International Code of Ethics takes into account the Indonesian urf am so that it is in accordance with existing financial accounting practices.

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