Islamic Economics and Finance Research Group (RG), Faculty of Economics and Business (FEB), Universitas Sebelas Maret (UNS), hosted a virtual Community Service (PKM) activity for the ZIS Management Organization on Wednesday, August 2, 2023.

The PKM FEB UNS team led by Dr. Falikhatun, M.Sc., Ak., CA., SAS., the PKM team leader provides ZIS Accounting Training in collaboration with the Regional Assembly (MD) of the HMI Wati Alumni Forum (Forhati) to Zakat, Infaq, and Shadaqah (ZIS) fund managers in the Great Solo Region.

The online activity aims to assist ZIS managers in implementing the Islamic accounting standards of PSAK 109. In her presentation, Dr. Falikhatun said that the current program is motivated by the fact that the financial statements prepared by OPZ were not in accordance with the Accounting Standards for Zakat, Infaq, and Shadaqah.

“Financial Statements are a means of accountability reporting for the sources of funds managed by OPZ, both funds originating from Zakat, Infaq, and Sadaqah. The financial statements must also contain the flow of funds as a form of distribution to Mustahiq or OPZ management costs. OPZ’s financial statements in accordance with PSAK 109 consist of Statements of Financial Position, Statement of Changes in Funds, Statement of Changes in Management Assets, Cash Flow Statements, and Notes to Financial Statements,” explained Dr. Falikhatun.

This activity is expected to motivate ZIS Fund managers to prepare Financial Statements in accordance with PSAK 109, thus, improving Musakki’s trust in OPZ, and will ultimately increase the number of Zakat, Infaq, and Shadaqah fundraisers for each OPZ