PENGUNGKAPAN TANPA PENGAKUAN: KRITERIA KENDALI PSAK 412 PADA ASET WAKAF BLANG PADANG YANG BERSTATUS BARANG MILIK NEGARA

Abstract

This study aims to examine whether the Blang Padang land in Banda Aceh, covering 89,800 square metres and supported by a Substitute Deed of Waqf Pledge (APAIW) dated 2 July 2025 while also recorded as a state-owned asset since 2021, meets the recognition criteria for waqf assets under PSAK 412. Using a qualitative instrumental case study design, the study first reviews legal documents, accounting standards, and regulations. Three questionnaire responses from the nazhir and the Aceh Provincial Office of the Ministry of Religious Affairs are then cross-checked against a written response from the Legal Bureau of the Aceh Regional Secretariat, Waqf Information System records, and on-site information boards, with evidence dated 24 September and 5 October 2026. The findings show that the APAIW and the appointment of Yayasan Baiturrahman Peduli Umat as nazhir support legal control. However, control over economic benefits remains unfulfilled because the Iskandar Muda Military Regional Command (Kodam IM) controls site management and access permissions. Reliable fair value measurement is also unavailable because no formal valuation has been conducted. The study concludes that, under paragraph 42 of PSAK 412, the appropriate treatment is disclosure without recognition in the nazhir’s statement of financial position. The asset is presented separately in the Waqf Asset Details Report with the designation “pre-recognition,” explained chronologically in the notes, and recognised prospectively once substantive control and reliable measurement are established. Theoretically, the study extends the substance-over-form doctrine to separated legal and physical control over assets, a case not addressed in the studies reviewed.