Main Article Content
Abstract
This study aims to analyze the implementation of productive waqf management by the Ministry of Religious Affairs of Demak Regency from a social value accounting perspective. Productive waqf is one of the Islamic social financial instruments that has strategic potential in promoting economic empowerment of the community through sustainable asset management. This study employs a qualitative approach using descriptive-analytical methods and data collection techniques through in-depth interviews, participatory observation, and documentary studies on productive endowment programs managed by the Sharia Implementation Section. The results of the study indicate that wakaf management strategies, including the formulation of work plans, training of wakaf administrators, data digitization, and institutional collaboration, have made a tangible contribution to improving community welfare, particularly in the areas of economy, education, and worship. Social value accounting is applied through a benefit reporting system that is not only based on inputs and outputs but also includes social outcomes and impacts. However, this study also identified structural barriers such as low waqf regulatory literacy, suboptimal implementation of Statement Of Financial Accounting Standards 112, and limitations in digital reporting. Therefore, it is necessary to strengthen the social value-based reporting system, integrate data between institutions, and improve the capacity of waqf administrators in managing and reporting waqf in an accountable manner. These findings contribute theoretically to the development of Islamic social accounting and have practical implications for the management of productive waqf oriented toward social justice and economic sustainability for the community.
Keywords: Social Value Accounting, Productive Waqf, Ministry of Religion, Community Empowerment, Social Reporting.