Mudharabah Accounting

Abstract

The development of the sharia economy in Indonesia has encouraged the implementation of various contracts based on Islamic principles, one of which is the mudharabah contract. Mudharabah is a collaboration between the capital owner (shahibul maal) and the manager (mudharib) with a profit-sharing mechanism based on an agreed ratio without the determination of interest as in conventional systems. This contract is used in sharia financial products such as savings and deposits because it is considered to reflect the principles of justice, transparency, and is free from usury. The legal basis for mudharabah is supported by the Qur'an, hadith, the practices of the Companions, the consensus of scholars, and the provisions of the National Sharia Council (DSN-MUI). In its application, mudharabah has certain characteristics, pillars, and types, including mudharabah mutlaqah , muqayyadah , and musytarakah, which differentiate the structure and authority of capital management. In addition, the mudharabah transaction system in sharia financial institutions has a flow that includes application, provision of capital, business management, profit sharing, and capital repayment. From an accounting perspective, mudharabah recording is regulated by PSAK 105, which covers recognition, measurement, presentation, and disclosure for both fund owners and fund managers. This standard aims to ensure accountability, transparency, and compliance with sharia principles. Thus, mudharabah is a crucial instrument in supporting the development of a fair, trustworthy, and welfare-oriented Islamic financial system.

Keywords: mudharabah, sharia contract, sharia accounting, PSAK 105, profit sharing.