Implementation of Financial Reporting in Islamic Boarding Schools

Abstract

This research analyses the form or model of financial reporting prepared by Islamic boarding schools. The research method used is qualitative research with the following objects: the Sunan Bejagung Islamic Boarding School and the Manbail Futuh Islamic Boarding School in Tuban, East Java. Data and data sources are obtained from primary data and secondary data. Interviews, observation, documentation carry out data collection techniques. The research results show that the Sunan Bejagung Islamic Boarding School and the Manbail Futuh Islamic Boarding School, in preparing financial reports, have yet to refer to the Islamic Boarding School Accounting Standard (ISAK 35). The Sunan Bejagung Islamic Boarding School has just created bookkeeping in general journals and ledgers. Likewise, at the Manbail Futuh Islamic Boarding School, financial reporting only uses single entries or simple records in cash-in and cash-out. The model or form of financial reporting at the two Islamic boarding schools studied does not yet refer to the Islamic Boarding School Accounting Standard (ISAK 35) due to several factors, namely: (1) lack of understanding and knowledge of managers regarding the presentation of financial reports, (2) limited human resources owned by Islamic boarding schools, and (3) minimal socialization regarding the standards for presenting Islamic boarding school financial reports.