The Opportunities and Challenges of Islamic Accounting Learning for Vocational Students and Its Application in Islamic Microfinance Institutions

Abstract

HR needs in the field of Islamic Economy by 2017 is 20,838 people per year. Nevertheless, the average number of S1 and S2 graduates of Islamic Economy Study Program is 6,542 per year. Hence, there's a gap of 14,296 per year. Most of the needs, especially for BMT and Sharia Cooperative, can be fulfilled from vocational-graduated skilled labors. This study aims to find out the development of Islamic accounting and its teaching effectiveness in vocational schools to meet the needs of accounting manpower. The method used is qualitative research with case study approach. The Data were collected from the 12th grade students and the graduates of the accounting vocational schools in West Java Province, comprising 26 Regencies and Cities, Teacher, Islamic Experts and director of BMT. Source triangulation technique is used to test the credibility. The result shows that the characteristics of Islamic accounting applied in BMT is unique, because The legal status of BMT is cooperative, based on Cooperative Accounting Guides, it has to comply SAK ETAP (Financial Accounting Standards for Entities Without Public Accountability). On the other hand, because BMT is a sharia entity that performs sharia transactions, BMT has to obey SAK Syariah (Islamic Financial Accounting Standards). Hence, BMT in Indonesia may use both SAK Syariah and SAK ETAP. It is necessary to provide learning module for produces graduate off professional accounting technicians for BMT.

The development of Islamic accounting education in the UAE and its challenges: an institutional perspective

“…On the other hand, there is a shortage of qualified Islamic accounting academics and Islamic accounting academic books. The move toward Islamic accounting education may represent a critical task for teachers in the preparation of their courses and exams, as they face a lack of available textbooks and detailed assessment guides (Nasim et al , 2016). Furthermore, curriculum changes have a significant effect on the learning process involving teachers and students (Nasim et al , 2016) and may lead to a more complex assessment process.…”

Understanding Islamic accounting: a Quranic approach

“…This approach prioritizes intellectuality by transferring technical knowledge and pays less attention to emotional or spiritual elements (Sari et al , 2016). In addition, current alternative teaching design solutions generally prioritize overcoming the challenges of simplifying and facilitating basic accounting understanding (Nasim et al , 2016; Zhou and Lamberton, 2021). Therefore, Zhou and Lamberton (2021) recommend the need for variations in teaching approaches other than solutions through instructional design.…”

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“…Cooperative financial reports prepared based on FAS-EWPA will make the information presented easier to understand and have high relevance, reliability, and comparability (Song et al, 2010;Tschopp & Huefner, 2015). Nasim et al, (2016) stated that if a cooperative body operates not in accordance with FAS-EWPA, the financial statements can mislead users. Therefore, the implementation of FAS-EWPA can affect the quality of cooperative financial reports.…”