Docstoc

Accounting Murabahah

Document Sample
Accounting Murabahah Powered By Docstoc
					                                    ACCOUNTING MURABAHAH
                                     By Firdaus Furywardhana
01. Definition

Murabaha is to sell goods at cost price plus an agreed profit and seller must disclose the acquisition
price of these goods to the buyer. (PSAK 102 Paragraph 5)
Sale and purchase of goods of base price plus an agreed profit margin. (PBI No.09/9/PBI/2007 June 18,
2007)



02. Recognition and Measurement Murabahah



                        Pengakuan


                    ASET MURABAHAH

                       Pengukuran

                         setelah
                        perolehan
            PEMASOK                   BANK / LKS       NASABAH/PEMBELI


                           Gambar 4.1 Pengakuan Aset Murabahah




Pay Urbun:
• Recognized as an advance purchase => at the amount received by banks
• When goods are purchased the customer => is recognized as payments receivable
• If customer purchased the goods null => refunded after deducting bank losses

Recognition of fines / Ta'wid:
• Subjected to the customer who fails to perform its obligations
• Recognized as part of social funds (al qardhul Hasan)
• Fines in murabaha
- Customers are able but not willing
- Discipline customer with its obligations
- The amount under the agreement
03. Case Illustration

On 5 January 2009 PT Sejahtera Mandiri obtained with the purchase of operational vehicles data as
follows:
• Cost: USD 180 million, -
• Margin: USD 36 million, -
• Sale Price: USD 216 million, -
• Urbuun: 30%
• Period: 36 months
• Administration Fee: Rp 1.800.000, -

JOURNAL FOR 30% IF URBUUNNYA
Urbuun • When Recognition
No journal, only the customer's account is blocked for urbuun
USD 180 million, - X 30% = Rp 54,000,000, -

• When Buying Goods

       D: Pers. Assets Murabahah USD. 180.000.000
       K: Debt Murabahah USD. 180.000.000

• When the Sale of Goods
      D: USD Murabaha receivables. 216.000.000
      K: Inventory Assets Murabahah Rp.180.000.000
      C: The margin deferred USD. 36.000.000

       D: Affiliate Account / Customer Rp. 54.000.000
       K: Receivables murabaha USD. 54.000.000

• Completion When Buying Goods

        D: Debt Murabahah USD. 180.000.000
        K: Accounts Leads USD. 180.000.000

   So the mortgage is 162 jt: 4.5 million 36 =.

o When the Imposition of Administrative

       D: Account Affiliated Customers USD. 1.800.000
       K: Revenue Administration Rp. 1.800.000
JOURNAL MONTH INSTALLMENT 1 S.D. 3
• Journal of the due date (end of month)
First Month
       i) The Revenue Recognition

   D: Maturity USD Murabaha receivables. 4.500.000
   K: USD Murabaha receivables. 4.500.000

 D: The margins are deferred Rp 1,000,000
 K: Income Margin Accrual Murabahah USD. 1.000.000

      ii) When the imposition of the Customer

 D: USD 4.5 million customer accounts
 K: Maturity Murabaha receivables USD 4.5 million



D: Revenue Accrual Margin Murabahah Rp 1,000,000
K: Income Margin Murabahah Cash Rp 1,000,000



The amount of revenue coming into the results = PDPT Murabahah Cash Margin = USD 1000000-0 = Rp
1.000.000, -



Month II & III
iii) The Revenue Recognition

 D: Maturity USD Murabaha receivables. 4.500.000
 C: USD Murabaha receivables. 4.500.000

D: Margin The deferred USD. 1.000.000
K: Revenue Accrual USD Murabaha margin. 1.000.000

iv) When the imposition of the Customer

D: Account. Customer Rp. 4.500.000
K: Murabaha Receivable Maturity Rp. 4.500.000
D: Revenue Accrual USD Murabaha margin. 1.000.000
K: Income Margin Murabahah Cash Rp. 1.000.000

The amount of income that goes into the table for the results:
Delta PDPT Murabahah Cash margin
Installment II = 2000000-1000000 = Rp 1.000.000, -

Installment III = 3000000-2000000 = Rp 1.000.000, -

THE 4-MONTH INSTALLMENT NOT PAID
• Revenue Recognition As the 4th month

D: Maturity USD Murabaha receivables. 4.500.000
K: USD Murabaha receivables. 4.500.000

D: Margin The deferred USD. 1.000.000
K: Revenue Accrual USD Murabaha margin. 1.000.000



The amount of revenue coming into the results:
3000000-3000000 = 0

ACCOUNT BALANCES AT END OF MONTH ONLY 50% AFFILIATES AVAILABLE FROM INSTALLMENT
• When Payment

D: Customer Account USD. 2.250.000
K: Maturity USD Murabaha receivables. 2.250.000

D: Revenue Accrual USD Murabaha margin. 500.000
K: Income Margin Murabahah Cash Rp. 500.000

Revenues coming into the results:
3500000-3000000 = 500 000

INSTALLMENT REMAINING MONTHS TO 4-MONTH PAID IN TO-5
• When Payment

D: Customer Account USD. 2.250.000
K: Maturity USD Murabaha receivables. 2.250.000

D: Revenue Accrual USD Murabaha margin. 500.000
K: Income Margin Murabahah Cash Rp. 500.000
Revenues coming into the results:
4000000-3500000 = 500.000, -

IF WALKING AFTER 18 MONTHS, AND HAS BEEN PAID DUE FROM STICKS Rp 10.000.000, -
Time Receivable Murabahah = USD $ 81 million, -
Time Margin The deferred = Rp 18,000,000, -

i) Journal of Redemption Before Expiration

D: Customer Account USD. 71.000.000
D: Margin The diangguhkan Rp. 10.000.000
K: USD Murabaha receivables. 81.000.000



D: Margin The deferred USD. 8.000.000
K: Income Margin Murabahah Cash Rp. 8.000.000

END IF UNTIL MATURITY PT. PROSPER INDEPENDENT unable to repay
• The Income Recognition

D: Maturity USD Murabaha receivables. 4.500.000
K: USD Murabaha receivables. 4.500.000

D: Margin The deferred USD. 1.000.000
K: Revenue Accrual USD Murabaha margin. 1.000.000



The shift Collectible

D: Maturity Murabaha receivables Gol II USD. 4.500.000
K: Maturity USD Murabaha receivables. 4.500.000
And so on ... until the group jam!

 When you get to the collectibility of the NPL, the revenue that has been recognized but not paid
direversal / correction and booked in the off-balance-sheet

D: Revenue Accrual USD Murabaha margin. 1.000.000
K: Margin The deferred USD. 1.000.000

GRACE PERIOD 3 MONTHS
• Journal of months to 1 s.d. 3
No Journal
Description: The 3rd installment Months to completion is 162.000.000/33 = 4909000, -

				
DOCUMENT INFO
Shared By:
Categories:
Stats:
views:265
posted:1/16/2011
language:English
pages:6