THE UNDERSTANDING OF BMT’S PRACTITIONERS OF THE PSAK NO. 59 (THE ACCOUNTING OF SHARI’AH BANKING) ON THE RECOGNITION AND MEASUREMENT OF FUNDING PRODUCTS

 Abstract The objective of this research is to explore BMT practitioners’ understanding of the SPAK No. 59 on the Accounting of Shari’ah Banking for funding products. For this reason, the research is conducted by descriptive method. Field research using quantitative approach is also used. However, qualitative approach is also used to explore and to clarify as well as to compare between the concept and the real situation. The population used in this study are members of PUSKOPSYAH DIY, and the subjects of this research are the managers and accounting staffs of these BMTs. The sample consists of 30% of 80 active members. However, since the magnitude of each sub-population is different, proportional sampling method is used to determine the number of sample taken from each sub-population, and purposive sampling method is used as the sampling method. The independent variables used in this research are age, educational background, length of time working in BMT, and frequency of training or workshop joined by the subjects. Meanwhile, the dependent variable in this research is the BMT practitioners’ understanding about SPAK No. 59 for funding product. Data gathering methods used in this research were questionnaire, field observation and interview. Meanwhile, data analyses for this study include descriptive statistical analysis and inferential statistical

The BMT (Baitul Mâl wat-Tamwîl) as one of the alternative shari'ah financial institutions is both a business and social oriented institution 1 . The BMT is a micro financial institution which operates in low level communities. By employing shari'ah principles, this institution is not merely controlled by economic aspects and society; instead religion or theology is more dominant in control. Even though the emergence of many BMTs in this country is a good phenomenon, it doesn't mean its development is going on smoothly. There are many crucial problems need to be solved. One of the problems concerns about the implementation of Islamic shari'ah principles on accounting. The accounting in a financial institution is a vital aspect because every financial institution always connected to financial transactions which need a guideline. Consequently, accounting is necessary so that every economic transaction in the institution is well documented and controlled. By way of accounting, the rights of every party will be fairly protected. 4 Legally and formally, the BMT has the same legal entity with the cooperation.
However, the BMT's standards of accounting are varied. 5 Some of the BMTs apply cooperation accounting, limited company accounting, and even the standard of banking accounting. Because the BMT basically is the cooperation in its legal entity, it adopts Pernyataan Standar Akuntansi Keuangan (PSAK)/ The Standard Record for 1  Financial Accounting No. 27 about the Cooperation Accounting as its standard of accounting. In this case, Triyuwono said that the social oriented of the cooperation has colored its practice or cooperation financial accounting. 6 However, even though the accounting is within a social nuance of the cooperation, it is more influenced by its capitalist origin (gives the priority to its members over anybody else, which contrast with the characteristics of shari'ah financial systems).
Moreover, Amin Aziz, the chairperson of Pusat Inkubasi Usaha Kecil (PINBUK), admits that the BMT's operating method is closed to that of the conventional bank instead of the cooperation. While the cooperation operates only in money saving and loan for its members, the BMT also serves people other than its member. 7 Yaya shares this idea. 8 He states that as an institution which based on Islamic values, the BMT and shari'ah banking operate on the basis of fiqh. The BMT and shari'ah banking operation should be based on fatwas from Dewan Syari'ah Nasional (DSN)/ The Shari'ah National Board which is authorized to determine the legal basis of any transaction. Consequently, in practice, there is no difference between the transaction in the BMT and shari'ah banking. The object of this research is not merely a problem in the practical level but also the problem of following the rule of shari'ah for shari'ah financial institutions, especially the BMT in Yogyakarta. Based on the phenomenon mention above, it is necessary to conduct further research concerning the understanding of the BMT's practitioners towards the PSAK No. 59 of the Accounting of Shari'ah Banking, the recognition and measurement of funding products, and the relationships between age,

B. Bibliographical Research
Islam as an ideology is full of values. Consequently, the accounting operation in the Islamic communities has to adjust with Islamic characteristic. Islamic teaching should be applicable as the basis for the whole aspect in the community. 10 Generally, accounting could be defined as the system of information to make a report to anyone who may concern about the economic activity and business' The accounting aims at providing information to the user as the basis of decision making. The general objective of accounting is presenting the description to its users about the business performance, financial condition, and cash flow of an institution in a period of time. Based on this universal objective, the information of accounting can be used for special purpose, such as to count taxes and possibly, to count zakat.
Accounting is one of "muamalah" domains in Islamic teaching. It means that its development depends on human reason. However, for accounting is significant, Allah gives a special consideration in the Qur'an as the foundation of accounting according to Islamic shari'ah, Al-Baqarah (2) 282. 12 In this ayat (verse), it is clear that in Islam, taking note in a transaction (mu'amalah) is a compulsory as the foundation for the future assessment and the solution for further problem, and for the prevention from manipulation or fraud of the transaction and its profit. 13  2. To support the uniformity in the presentations of financial report.
3. To support the exposure of specific aspects that might be needed by the users of the information as the basic for their decision makings. awareness. 23 Therefore the understanding of BMT practitioners will affect the establishment of a reliable and just accounting system.

C. Research Methodology
This research uses the quantitative approach. However, the use of qualitative approach is unavoidable in revealing and explaining about the concept and reality.
This approach may also be applied in revealing the problems of shari'ah accounting in shari'ah micro financial institutions. This is a field research that is carried out by about the recognition and measurement of funding products.
As this is a field research which is naturally descriptive, the data is collected by means of questionnaires, observations, and interviews. Subsequently, data is analyzed in several steps: data processing stage which includes data editing and data coding, data analysis stage, and data interpretation stage.
The data analysis refers to the activity of organizing data into certain structures in order to be interpreted. In this research the data analysis consist of descriptive statistic analysis and inferential statistic analysis. 26  from questionnaires, tabulating, and calculating the percentages. This analysis uses to address the first problem, while inferential statistic analysis is applied for the measurement of the connection level between the variables.
In dealing with the correlations between more than two variables, the technique of statistic employed is the multiple correlations analysis in which the result is the coefficient of multiple correlations (R), and the partial correlation analysis which results the coefficient of partial correlation ( Since it is already noticed that the respondents have high level of understanding of the subject, the next question will be whether the age, working term, The high degree of understanding of respondents of the 20 to 30 age group, the productive age, is an interesting phenomenon. Based on their age, human's intellectuality is increasing and reached its peak point in the age of 20 to 30. In the age between 30 to 60 years human's intellectuality is decreasing and it is decreasing sharply after the age of 60. 31 In the age between 20 until 30 years, people are in the height of their physiological condition. This physiological aspect consists of general physical condition and tonus (muscle tone) which reveal the healthiness of organs and its joints. These aspects affect people spirit and intensity in learning.
The old age or the early age may reduce the cognitive quality of people to learn, so it is difficult to absorb learning material or even impossible this age. The level of understanding of respondents with 3 to 5 years of working term indicates that basically respondents are familiar with the basics theory and practice of the recognition and measurement of funding products. Thus, respondents with long working term in the BMT will be able to figure out their job although their age is beyond the productive age or with insufficient educational background.
Another variable relates to the height of understanding is the frequency of The frequency distribution depicts that about 43.8% of respondents are joining trainings around 1 until 3 times. Approximately 33.3% of respondents join workshops for 4 up to 6 times. Respondents who join 7 to 9 times are around 10.4% and those who join trainings more than 9 times are approximately 12.5%. If the frequency of training is connected to the degree of understanding, respondents with 1 to 3 times training, approximately 9.6% of respondents who join 1 to 3 times training are in the middle level of understanding while around 90.4% are in the high stage. The other groups are in the high stage of understanding.
Interest and motivation are one of psychological factors that affect the quality and quantity of human learning ability. 33 Subsequently, the frequency of joining seminar and training will broaden the knowledge and understanding (material 33 Ibid. mastering) of the BMT's practitioners on the PSAK No. 59. In addition, the interview with respondents confirms that the understanding of the PSAK No. 59 is mostly gained through trainings and seminars.

E. Conclusion
The respondents, who are the BMT's practitioners and members of the