CHAPTER 2

ZAKAT ACCOUNTING
FOR PERSONAL WEALTH
 THE PURPOSES OF LEARNING

• Student could explain the definition of wealth

• Student could measure and calculate the amount of
zakat on personal wealth
• Student could calculate the amount of zakat on
account receivable.
• Student could calculate the amount of zakat on
jewelry
• Student could calculate the amount of zakat on dowry
 WORDS BANK

• Coins
• Banks note
• Receivables
• Doubtful receivables
• Bad debts
• Jewelry
• Dowry
• Reasonableness
 THE TREASURES OBLIGATORY
ZAKAT
• Various personal wealth of obligatory Zakat such as:
• Al-nuqud al-mutlaqah: gold, silver and others judged equally with the
both.

• Money, both coins and bank notes

• Receivables and financial agreements

• Jewelry and dowry

 ZAKAT ON GOLD AND SILVER
The Legal Foundation

• Hadits narated by Ali ra, He said, the Prophet SAW said:

"If you had 200 dirhams and has been quite a year then
zakat is 5 dirham, and gold is only subject to zakat
when it reaches 20 dinars and it has been quite a year,
then zakat is ½ dinar each increases, with the
calculation, Not obligatory zakat unless until sufficient
period of a year "(H.R Abu Daud)
ZAKAT ON GOLD AND SILVER

Rate of Zakat

• Hijriyah Calendar: 2.5 %

• Masehi Calendar: 2.5775%*

*(365/354) x 2.5 % = 2.5775 %

ZAKAT ON GOLD AND SILVER

Nishab of Gold and Silver

• Nishab of 20 gold dinar, 1 dinar = 4,25 gram, then

nishab for gold is
20 X 4,25 gram = 85 gram
• Nishab of silver is 200 dirham,
1 dirham = 2,975 gram, then nishab of silver is
200 X 2,975 gram = 595 gram.
 HOW TO CALCULATE AMOUNT OF
ZAKAT?

1. Determine the period of haul

2. Classify, measure and calculate the current assets using market
value
3. Calculate expenses and short-term debt to deductible wealth to
zakat (Wi'auz Zakat)
4. Compare with nisab zakat (85 grams of 21 carat gold is valued in
accordance with the prices prevailing at the time of obligatory
zakat)
5. Determine the rate of zakat which is 2.5% if the haul in Hijriyyah
and 2.5775% if based on the masehi calender.
 HOW TO CALCULATE AMOUNT OF
ZAKAT?

6. Determine the levels of zakat by multiplying the rate of zakat

7. It is not required that all property must pass one year (haul), but
that calculation is the obligatory zakat's net assets at the
beginning and the end of the haul, if it reaches the nisab, it should
be the obligation of zakat.
8. Collect the current assets due to the unity of nature, nisab, haul
and the price of zakat.
For example gold coins, bank notes and deposits in banks with
gold and silver.
 CASE STUDY 1
Mr. Muslim calculate his assets at the end of haul for calculating zakat on 30/12/1438 H,
as follows:

1. 40 grams of gold
2. Silver coins equal to Rp 10.000.000, -
3. 50 dinar, the exchange rates of the dinar against the rupiah = Rp 2.275.000, -
4. 1000 shares, price per share of Rp 5,000, -
5. Current bank deposit in Islam al-Ummah Rp 60,000,000, -
6. Investment on the Sukuk at the International Islamic Investment Bank amounting
to Rp 20,000,000.-
7. Investment deposits in Islamic banks Rp 100,000,000. -, savings at banks Rp
25.000.000, -, financial agreements with other parties amounted to Rp 5,000,000, -
 CASE STUDY 1

Mr. Muslim also has obligations and short-term payment as follows:

1. Car installment due in this year Rp 36,000,000, -
2. Debt Rp 15.000.000, -
3. Tax payable Rp. 5.000.000

Note: gold price is Rp 500,000, - and haul is calculated based on

Hijriyah calendar.
Calculate the amount of Zakat!
 SOLUTION 1
Tabel of Zakat Calculation
Description Amount Total Explanation
Assets
Gold: 40 gram X Rp 500.000,- Rp20.000.000 Market Value
Silver Rp 10.000.000 Market Value
Dinar: 50 X Rp 2.275.000,- Rp 113.750.000 Market Value
Current Deposit in bank Rp 60.000.000 Listed value
Share: 1000 X 5000 Rp 5.000.000 Market Value
Sukuk Rp.20.000.000 Listed value
Investment Rp100.000.000 Listed value
Saving Rp 25.000.000 Listed value
Receivable (fin. Agreement) Rp 5.000.000 Based on
Contract
Total Rp 358.750.000
 SOLUTION 1
Tabel of Zakat Calculation
Description Amount Total Explanation
Total (Continued) Rp 358.750.000
Deduction
Installment Rp 36.000.000
Debts Rp 15.000.000
Tax Rp 5.000.000
Total Rp 56.000.000
Zakatable Fund Rp 302.750.000 Reach the nishab
Nisab: 85 gram X Rp 500.000,- Rp 42.500.000

Zakat Payment: Rp Rp 7.568.750

302.750.000 X 2,5 %
JOURNAL OF ZAKAH RECEIPT AND
PAYMENT
Zakat payment

Zakat Mal 7.568.750

Cash / bank 7.568.750

Zakat receipt
Cash / bank 7.568.750
Zakat Mal Revenue 7.568.750
 THE CALCULATION OF ZAKAT ON
RECEIVABLE
• Receivables are a number of treasures that exist in
other parties. Receivables are classified into 3 types:
1. Expected Receivables : Subject to zakat, combined,
subject to 2.5%
2. Doubtful receivables : a strong opinion that these
accounts are not subject to zakat and if the receivable is
returned, then it is combined with the other assets and
should be paid its Zakat for one haul.
 THE CALCULATION OF ZAKAT ON
RECEIVABLE

3. Bad Debts, considered to be non-existent, so it

is not obligatory zakat. Once if paid then the
property is combined with other Zakat and Zakat
for one year only.
 CASE STUDY 2

• Ahmad has receivables to others and he wants to

calculate his zakat after haul as follows:
• Loans to Mr Ali within 12 months of Rp 75,000,000, - this receivable
can be expected returns.
• Receivables to Mr Farid Rp 3.000.000, - is in the bill.
• Receivables to a young man's marriage to Rp 5.000.000, - his
economic condition is so difficult, So the returns can not be
expected.
• Receivables to Mr Dani Rp 25,000,000, - and the person died without
leaving a legacy.
 SOLUTION 2

The Calcuation of zakat amount as follows:

• The calculation of zakat on receivables:
• - Loans to Mr Ali = Rp 75.000.000,-
• - Receivables to Mr farid = Rp 3.000.000,-
• - Zakatable Fund = Rp 78.000.000,-
• - Nisab zakat: 85 gram X Rp 500.000,- = Rp 42.500.000,-
• - zakat rates: Rp 78.000.000 X 2,5 % = Rp 1.950.000,-
ZAKAT CALCULATION ON JEWELRY

• The scholars have different opinions about zakat on

jewelry, as follows:
• The first opinion: Not subject to zakat even as heavy or
high price.
• The second opinion: Subject to the zakat if it reaches Nisab
and haul
• The third opinion: Not obligatory zakat if within the limits
of habit and fairness, the excess of reasonableness is
subject to zakat. The opinion is the most powerful.
ZAKAT CALCULATION ON JEWELRY

• Jewelry stored for investment, not for usage then

subject to zakat (with haul and nishab)
• If a man has goods from gold, it should be valued
in market prices and subject to zakat amounting
to 2.5%.
 CASE STUDY 3

• Mrs. Aminah have the following items to

calculate her zakat after haul:
• Weared gold jewelry 400 grams, which a reasonable
level for social and economic condition is 200 grams
• 250 grams of Gold jewelry for investment purposes

Price for gold is Rp 500.000, -/ gram

 SOLUTION 3
Zakat Calculation
The limit of reasonable : 400 – 200 = 200 gram
usage
Over the limit of : 200 gram X Rp 500.000,- = Rp 100.000.000,-
reasonable usage
Jewelry for Investment : 250 gram X Rp 500.000,- = Rp 125.000.000,-

Zakatable fund = Rp 225.000.000,-

Zakat Amount : Rp 225.000.000,- X 2,5 % = Rp 5.625.000,-

ZAKAT CALCULATION ON DOWRY (MAHAR)

• Dowry is a treasure given by men to women at the wedding or

marriage covenant
ZAKAT CALCULATION ON DOWRY (MAHAR)

• Legal Foundation of zakat on dowry:

• Zakat on direct dowry : if women save the dowry, it was not given
to someone else and not be spent for any purpose, then, added
to another assets and rated by 2.5% at the time of payment of
zakat.
• Zakat on deferred dowry : it is simillar with zakat on receivables.
If it will be given when the husband dies or a divorce then it
should not be added, unless accepted later. If the intention and
agreement being repaid on demand and the husband gives,
then this dowry added with other treasures every year and if it
reaches Nisab of Zakat.
 CASE STUDY 4

• The amount of dowry agreed between Mr. Ahmad and Sister

Anna is Rp. 100 million, Rp. 50 million were paid in cash and
the rest deferred at the time of death or divorce. Sister Anna
wants calculate her zakat after haul.
• Solution:
• The dowry used by sister Anna to build a house, it is not obligatory
zakat.
• If it is stored in the form of money or investment, it is obligatory
zakat is 2.5% x Rp 50,000,000, - = Rp 1.250.000, -.
• Deferred dowries is not obligatory zakat unless accepted later.
 REFERRENCES

• Ar Rahman, Syaikh Mugammad Abdul Malik, Zakat 1001 Masalah dan Solusinya, Pustaka Cerdas 2003
• Hafidhuddin, Didin Dr, Panduan Zakat, Republika 2002
• Hafidhuddin, Didin Dr, Zakat dalam Perekonomian Modern, Gema Insani Press, 2002
• Harahap, Sofya Syafri PhD, Menuju Perumusan Teori Akuntansi Islam, Pustaka Quantum Jakarta, 2001
• Mursyidi, Drs Akuntansi Zakat Kontemporer, Remaja Rosdakarya 2003
• Nurhayati, Sri dan Wasilah, Akuntansi Syariah di Indonesia, Salemba Empat, 2008
• Qardawi Yusuf Dr, Hukum Zakat. MIZAN 1996
• Shahatah, Husain DR, Akuntansi Zakat, Pustaka Progresif 2004.
• Shahatah, Husain DR, Pokok-pokok Pikiran Akuntansi Islam, Akbar Media Eka Aksara 2001.