Implementation of Istishna Accounting Based on PSAK 404: Challenges and Implications for Sharia Banking in Indonesia

Authors

  • Mila Ari Sri Mulyani State Islamic University Sunan Gunung Djati Bandung, Indonesia
  • Iwan Setiawan State Islamic University Sunan Gunung Djati Bandung, Indonesia

DOI:

https://doi.org/10.24260/aktiva.v3i1.3856

Keywords:

Istishna Accounting, Islamic Banking, PSAK 404

Abstract

Purpose: This study aims to analyze the conformity of istishna accounting implementation with the applicable standards, identify the challenges faced in the implementation process, and analyze the implications of the implementation.
Design/methodology/approach: This study uses a qualitative approach with descriptive methods based on secondary data.  
Research Findings: The findings in this study show that most Islamic Banks in Indonesia generally implement PSAK 404 quite well. However, the implementation still faces several challenges, including difficulties in applying the precentage of completion method, the complexity of recording istishna accounting, and the lack of understanding related to PSAK 404. In addition, the implementation of PSAK 404 also has a positive impact, such as increasing transparency and accountability of financial statementst, increasing operational efficiency, and strengthening the competitive position of Islamic Banking in the global market.  
Contribution/Originality/Novelty: This study provides new insights into the challenges and implications in the implementation of PSAK 404.

 

Tujuan Penelitian: Penelitian ini bertujuan untuk menganalisis kesesuaian implementasi akuntansi istishna dengan standar yang berlaku, mengidentifikasi tantangan yang dihadapi dalam proses implementasinya, serta menganalisis implikasi dari implementasi tersebut.
Desain/Metodologi/Pendekatan: Penelitian ini menggunakan pendekatan kualitatif dengan metode deskriptif berbasis data sekunder. Teknik pengumpulan data menggunakan studi kepustakaan, sementara analisis data melalui reduksi data, penyajian data, dan penarikan kesimpulan.
Temuan Penelitian: Temuan dalam penelitian ini munjukkan bahwa sebagian besar perbankan syariah di Indonesia umumnya mengimplementasikan PSAK 404 dengan cukup baik. Namun, implementasinya masih menghadapi beberapa tantangan, antara lain kesulitan dalam penerapan metode persentase penyelesaian, kompleksitas pencatatan akuntansi istishna, serta kurangnya pemahaman terkait PSAK 404. Di samping itu, implementasi psak 404 ini juga memberikan dampak positif, seperti peningkatan transparansi dan akuntabilitas laporan keuangan, peningkatan efisiensi operasional, serta penguatan posisi kompetitif perbankan syariah di pasar global.
Kontribusi/Orisinalitas/Kebaruan: Analisis terkait tantangan dan implikasi dalam implementasi PSAK 404 menjadi pembeda dari penelitian lain yang serupa.

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Published

2025-04-25

How to Cite

Mulyani, M. A. S., & Setiawan, I. (2025). Implementation of Istishna Accounting Based on PSAK 404: Challenges and Implications for Sharia Banking in Indonesia. AKTIVA: Journal of Accountancy and Management, 3(1), 24–35. https://doi.org/10.24260/aktiva.v3i1.3856