Zurri Waqf Reporting: Accounting Theories and Stewardship in Achieving SDG
Authors: Sakina Ahmad Sanusi Sri Wahyu , Yaacob Salmy Edawati Bt , Salleh Mohd Fairuz B. Md 
Published: September 2024

Objective: The objective of this paper is to investigate the application of positive accounting theory and decision usefulness theory, along with the stewardship concept, in the context of zurri waqf reporting. The study aims to address the current lack of standardized reporting practices for zurri waqf and explore how these accounting theories can contribute to establishing appropriate accounting principles and ensuring accountability, thereby supporting the achievement of SDG.

Theoretical Framework: The theoretical framework of this paper is grounded in positive accounting theory and decision usefulness theory. Positive accounting theory seeks to explain and predict accounting behaviors and events, emphasizing the importance of accurate and relevant information for decision-making. Decision usefulness theory focuses on the provision of useful information to stakeholders, such as investors and creditors, to facilitate informed decision-making. The concept of stewardship, which involves looking after and protecting resources on behalf of others, is also integral to this framework, particularly in the context of waqf zurri, aligning with the goals of SDG to build effective, accountable, and inclusive institutions.

Methodology: This conceptual paper employs a thematic analysis of related literature to explore the relevance and application of positive accounting theory and decision usefulness theory to zurri waqf reporting. By examining existing research and theoretical perspectives, the study seeks to identify key themes and insights that can inform the development of standardized reporting practices for zurri waqf, contributing to the SDG 16 objective of promoting transparency and accountability.

Results and Discussion: The analysis reveals that the principles of positive accounting theory and decision usefulness theory are highly relevant to zurri waqf reporting. These theories provide a robust foundation for predicting and explaining accounting behaviors and events, highlighting the necessity of thorough and accurate reporting. The study also underscores the importance of stewardship in ensuring accountability by the parties responsible for managing zurri waqf properties and assets, thereby supporting the broader aim of SDG to strengthen institutions and ensure responsible management.

Research Implications: The implications of this study emphasize the need for meticulous zurri waqf reporting, guided by essential accounting theories. By adopting these theories, organizations and individuals responsible for managing zurri waqf can enhance transparency, accountability, and the overall effectiveness of resource utilization, directly contributing to SDG. This study also contributes to the broader discourse on the role of accounting in non-profit and charitable activities, particularly within an Islamic context.

Originality/Value: This paper offers original insights into the application of accounting theories to zurri waqf reporting, a relatively underexplored area in the existing literature. By integrating positive accounting theory, decision usefulness theory, and the concept of stewardship, the study provides a novel perspective on how these theoretical frameworks can address the challenges associated with the lack of standardized reporting practices for zurri waqf. The findings contribute to the development of more robust and accountable reporting mechanisms for waqf zurri, ultimately benefiting both endowers and beneficiaries and supporting the institutional integrity emphasized by SDG.