Research On The Impact Of New Income Standards On Revenue Recognition And Cost Accounting Of Real Estate Enterprises

With the rapid development of China's economy,the emergence of new industries and new business models,the original old income standards have been unable to meet the needs of the current market,and it is difficult to accurately confirm and measure complex business,which directly restricts the development of the future market economy.Therefore,in order to conform to the development law of market economy and the international accounting standards,the Ministry of finance of China began to revise the income standards.In July 2017,China issued a new revenue standard,which solved the problems related to the recognition of previous revenue of Chinese enterprises.On January 1,2020,China's listed companies will fully implement the new income standard.Based on this,this paper selects the real estate industry which is greatly affected by the change of the standard,and takes enterprise a as the research object,analyzes the impact of the new income standard on its revenue recognition and cost accounting,so as to provide some reference for the application of the new income standard by the real estate enterprises in China.From the perspective of revenue recognition and cost accounting,this paper makes a comparison between the old and new revenue standards.On this basis,based on the unique business process and revenue recognition process of the real estate industry,this paper selects a typical case company a in the real estate industry as the research object,uses the "five step" model of revenue recognition under the new revenue standards,and focuses on the analysis of the new revenue standards Expected impact on revenue recognition and cost accounting of enterprise a.It is found that the application of the new standards provides a more comprehensive guidance for the accounting of enterprises,which makes enterprises more reasonable and more accurate to recognize revenue and accounting cost.In addition,this paper also deeply analyzes the problems that real estate enterprises shouldpay attention to when applying the new income standard,such as identifying contracts and performing obligations,reasonably allocating transaction prices,and confirming income according to the progress of performing obligations,and puts forward specific improvement suggestions to help enterprises adapt to the application of the new standard as soon as possible.