Research On The Impact Of New Revenue Standards On The Telecommunications Industry

Revenue recognition and measurement is a major problem that scholars and industry professionals have been discussing for a long time.With the development of the economy,the business model of the company's development is increasingly diversified,and the old income standard is insufficient in many aspects.Therefore,the IASB and FASB jointly studied a common set of income criteria in 2002,and finally promulgated IFRS 15 in May 2014-Revenue from Contracts with Customers,which was based on contracts.A five-step model based on income based on the transfer of control rights.In order to comply with economic development and maintain consistent with international standards,in July 2017,the Ministry of Finance of our country issued the final version of the revised standard-"Accounting Standards for Business Enterprises No.14-Income",some companies on January 1,2018 start to implement.The application of the new standard will result in changes in the business processing of telecommunications companies involved in a large number of frequent and diverse trading contracts,and changes in business processing have a series of effects on telecommunications companies directly or indirectly.This article introduces the main content of the new revenue standard,compares the old and new revenue standards,and then introduces the telecommunications industry from the income classification and development status of the telecom industry,and selects the typical company in the telecommunications industry-China Telecom Co.,Ltd.China Telecom),for example,briefly describes China Telecom's business,operating conditions and revenue policy,and selects China Telecom's typical package contract for detailed measurement and analysis to explore new revenue standards in different business contracts and old The difference between the application of the guidelines and the analysis of the impact of the application of the new criteria.Based on the study of China Telecom in specific cases,this article summarizes the impact of the new revenue standard on the identification and measurement,presentation and disclosure of the telecommunications industry,budget and performance evaluation,corporate marketing strategies,and data support systems.In this regard,this paper proposes to strengthen the construction of the standard research group,optimize the design of bundled business contracts,upgrade the information system and other recommendations,so that the new income standards can be better applied to telecommunications companies to adapt to the company's development.