2022
DOI: 10.33005/ic-ebgc.v1i1.48
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Accounting Practices between Takaful Operators in Indonesia: A Comparative Analysis

Abstract: This study aims to compare and analyze the difference between AAOIFI standards and PSAK 111. The method used in this study in content analysis. This study found that AAOIFI standards cover almost all of the areas covered under PSAK 111. However, AAOIFI standards are argued to be more holistic, focused and specific compared to PSAK 111. AAOIFI tends to encourage takaful operators to use wakalah model. Pro-forma Statement of policyholders’ surplus and deficit in FAS 12 only recognized the distribution of underwr… Show more

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