Research On The Application Of New Revenue Accounting Standards In Communication Equipment Manufacturing Industry

As one of the six elements of accounting,income is an important financial indicator to measure the business results of an enterprise.The confirmation of income is related to the survival and development of an enterprise.With the continuous development of the economy and the continuous acceleration of the process of social informatization,the old income standards have been unable to meet the requirements of increasingly complex economic activities for income recognition.In order to correct the shortcomings of revenue recognition in the old revenue standard,my country issued a new revenue standard "Accounting Standards for Business Enterprises No.14-Revenue"(referred to as CAS14(2017))in July2017.The new revenue standard no longer distinguishes the business scope boundaries between various industries,uses contracts as the only basis for revenue recognition,and implements revenue recognition in accordance with the "five-step method" model to unify the revenue recognition and measurement standards between enterprises.Enhance the comparability of income among various industries.In addition,the new revenue standards put forward higher requirements for the level of detail in revenue presentation and disclosure.Although the new revenue standard has a principle-oriented effect on the recognition and measurement of corporate revenue,and companies can formulate corresponding implementation rules,the content of the new revenue standard is somewhat difficult.Many companies have many difficulties in the application process,and the situation is not optimistic.Based on the above situation,the thesis elaborates the five-step model of the new revenue standard based on the theoretical basis and main content analysis of the new revenue standard,combined with the main business situation of the communication equipment manufacturing industry,and tries to take the leading enterprise in the communication equipment manufacturing industry As a case,ZTE introduces the background of the case,and analyzes the application of the new revenue standard in ZTE's main business and its impact on financial reports.The study found that the new income standard has a greater impact on the business of the case company,changed its main business income recognition method,and increased the list of contract assets and contract liabilities;however,it did not have a major impact on its financial indicators.On the whole,the application of the new revenue standard has played a positive role in the presentation of financial information in future years.At the same time,the paper summarizes the experience and lessons of ZTE's application of the new revenue standard,analyzes the difficulties in applying the new revenue standard in the communications equipment manufacturing industry,and proposes countermeasures.