Analysis of the Implementation of PSAK 105 Mudharabah Accounting on the Quality of Bank Syariah Indonesia (BSI) Financial Reports for 2021–2024

Abstract

This research is motivated by the implementation of PSAK 105 on mudharabah accounting, which regulates the treatment, measurement, presentation, and disclosure of mudharabah transactions. The purpose of this study is to analyze the application of PSAK 105 to the quality of Bank Syariah Indonesia's (BSI) financial statements post-merger for the 2021–2024 period. BSI is the result of the merger of Bank Syariah Mandiri, BNI Syariah, and BRI Syariah, which became effective on February 1, 2021. with assets exceeding IDR 245 trillion. The method used is a qualitative descriptive approach with a case study approach. The results show that BSI has consistently applied PSAK 105 in initial recognition, measurement, recognition of profit sharing, and presentation and disclosure of mudharabah transactions. The quality of BSI's financial statements meets the qualitative characteristics of relevance (4.5/5), reliability (3.8/5), comparability (4.2/5), and understandability (4.0/5). Temporary inconsistencies in 2021 due to the harmonization of accounting policies of the three banks were resolved in 2022. Remaining challenges include the treatment of mudharabah musytarakah and gaps with the AAOIFI FAS 3 standard. This study recommends revising PSAK 105, strengthening human resources for sharia accounting, and tightening disclosure regulations by the Financial Services Authority (OJK)