| The income account is one of the most important elements of the accounting statements,and it is also one of the important indicators to measure the operating results of a company during a period of accounting.However,as the income index is more flexible than other financial indicators,the recognition and measurement of income often attracts people’s attention.Businesses have a certain degree of subj ectivity at the time of income recognition,which leads to the adjustment of income confirmation.This adjustability may result in poor results of operating profits.Secondly,in 2014,the FASB and the International Accounting Standards Board(IASB)reached a consensus after a series of negotiations,and thus the joint income guidelines were born,namely"Topic 606——from customer contracts.Income(Topic 606)and IFRS 15-Income from Customer ContractsThe development process of Chinese standards has always followed the development of international financial reporting standards,pursuing convergence with the international community in order to achieve the rationality and practicality of accounting records,and to promote the comparability of financial information in different countries and industries.At the same time,China’s rapid economic development and the confirmation of revenues in practice have become increasingly complex.It is no longer the same as in the past that“one-handed delivery of money and one-handed delivery"and accounting standards must be closer to the development of practical practices in order to solve the accounting practice A series of questions.Therefore,the revised income guidelines newly issued in 2017 have emerged.Against this background,the Ministry of Finance announced on July 5,2017 in the Finance and Accounting[2017]No.22 document:In order to adapt to local conditions and in line with the national conditions,to adapt to the development trend of the socialist market economy,standardize the accounting treatment of income and improve the quality of accounting information.According to the comparability of accounting information.The revision of the 2017 income standard will affect the timing and amount of revenue recognition in many industries,such as real estate,e-commerce,manufacturing,and e-commerce.The progress of revenue recognition may be accelerated or postponedThis paper mainly focuses on the impact analysis of the revised revenue criteria on the changes of business revenue recognition measurement of CMCC and a series of income recognition,income measurement,income presentation and disclosure based on the changes of business revenue recognition measurement.Firstly,taking a business activity of CMCC as an actual case,this paper chooses bundled services gifted services,loyalty services and remuneration services as the research object,compares the accounting treatment under the new and old standards,and puts forward corresponding suggestions for the new standards.Then,it extends the impact of the new revenue standards on the key business of CMCC to the new revenue by studying the impact of the new revenue standards.The impact of entry criteria on accounting income recognition,income measurement,income presentation and disclosure,and even on the overall impact of the macro level on the company.This paper points out the opportunities and challenges brought about by the application of the new revenue criterion to telecommunication enterprises,and puts forward corresponding solutions to meet the challenges and opportunities put forward one by one.They are to evaluate the profit factors,optimize the business model of enterprises,deepen international cooperation,broaden the global vision,strengthen the cultivation of personnel’s"contract consciousness",improve the internal control mechanism,and issue statements to explain revenue.Quality issues give investors confidence,establish criteria cohesion group,strengthen personnel quality training,and update and transform the existing business data processing system to prove the operability and superiority of the application of new income criteria. |
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