ANALYSIS OF THE IMPLEMENTATION OF FINANCIAL ACCOUNTING STANDARDS STATEMENT (PSAK) 402 ON MURABAHAH FINANCING IN SHARIA COOPERATIVE: EVIDENCE IN KSPPS BMT HIRA SRAGEN

The development of the Islamic financial services industry in Indonesia shows a positive increase, withmany Islamic cooperatives being established. One of the commonly used financing products is financingwith a Murabahah contract, where Islamic cooperatives provide financing or purchase goods needed bymembers plus an agreed profit margin. However, the application of accounting in this transaction oftenfaces challenges, especially in terms of compliance with applicable accounting standards, such as PSAK402. PSAK 402 regulates accounting for murabahah transactions, which aims to increase transparencyand accountability in the financial statements of Islamic cooperatives. This study aims to analyze thesuitability of the application of the murabahah financing accounting system at KSPPS BMT Hira Sragenwith PSAK 402. The data sources in this study are primary data through direct interviews withcooperative managers and secondary data obtained indirectly through intermediary media based onreports from other people in the form of balance sheets, profit and loss reports, financial statements,examples of contracts, journals, and articles related to the case study being studied. Data analysis in thisstudy uses a qualitative descriptive approach. The results of the study indicate that the application ofsharia accounting for murabahah financing at KSPPS BMT Hira Sragen is not fully in accordance withPSAK 402.