Determining and Measuring the Zakat Base for Income-Generating Assets (Mustaghallat), Trade Goods, and Other Types of Zakat

Abstract

The researcher addressed the accounting challenges in determining the Zakat base for Income-Generating Assets (Mustaghallat) and Trade Goods. The research problem was identified as the non-application of mandatory and Zakat-related accounting standards, which leads to a failure to achieve the fair measurement of the Zakat base. The significance of the research was highlighted in elucidating the role of Zakat Accounting. Consequently, the study aimed to demonstrate the impact of the Figh (Jurisprudence) adaptation of Zakat for Mustaghallat and Trade Goods on the measurement of the Zakat base, and to shed light on the accounting challenges in measuring the Zakat base for both categories, presenting the solutions and treatments. Hence, the researcher sought to test the following hypotheses: There is a statistically significant relationship between accounting standards and the process of measuring the Zakat base for Income-Generating Assets and Trade Goods. There is a statistically significant relationship between the treatment of accounting challenges and the measurement of Zakat on Trade Goods. There is a statistically significant relationship between accounting challenges and the determination of the Zakat base. The study reached several key findings, the most important of which are: The accounting thought contributes to setting the bases, rules, and accounting methods that enable the fair accounting measurement of the Zakat base for Mustaghallat and Trade Goods. The principles and concepts applied by the Islamic thought to determine the Zakat base make the Zakat calculation process easy and facilitated. Consequently, the researcher recommended several actions, including: Attention must be paid to the application of mandatory accounting standards to enable the achievement of a fair accounting measurement of the Zakat base. The principles and concepts applied by the Islamic and accounting thought must be observed and used as guidance to achieve the fair measurement of the Zakat base.