Study On Revenue Recognition Of YB Company Under The New Revenue Criteria

On May 28,2014,the IASB(International Accounting Standards Board)and FASB(American Financial Accounting Standards Board)jointly issued the historic new revenue recognition criteria: the International Financial Reporting Standards.15-Revenue from Contracts with Customs.The new revenue recognition criteria,which has taken effect since January 1,2018,replaces the original revenue recognition method which is mainly based on revenue and construction contract,and takes the transfer of control right as the new revenue recognition mode.In our country,Ministry of Finance issued Road map for Continuous Convergence of Accounting Standards for Chinese Enterprises and International Financial Reporting Standards in 2010 to converge with the new income standards.The document refers to "China accounting standards for enterprises will keep continuous convergence with international financial reporting standards,whose time schedule will keep pace with the IASB.Therefore,in order to keep the development of China's enterprise accounting standards and international financial reporting standards in parallel,and to solve the problems existing in the implementation of the original income standards,the Ministry of Finance issued the Enterprise Accounting Standards No.14 – Revenue(Revised)(Draft for Comments)in December 2015.On July 5,2017,the final version of the revised standards--Accounting Standards for Business Enterprises No.14--Revenue(Hereinafter referred to as the " New Revenue Standards ")was released,which has been implemented since January 1,2018.The New Revenue Standards further improve the system of accounting standards for enterprises in our country and unify revenue recognition model.The New Revenue Standards make adjustments to the revenue recognition criteria and refine the basis of income measurement.The requirements for the disclosure and reporting of accounting information have been raised.All the above changes,which improve the quality of financial reporting information,play a huge role in greatly enhancing the reliability and comparability of revenue recognition.This paper,which is composed of six chapters,systematically studies the recognition and measurement of relevant income of the Internet tourism e-commerce platform after the release of the new revenue criteria,taking the case analysis of YB company,a representative tourism e-commerce platform,as the main line and the theoretical analysis as the auxiliary.Chapter 1 is the Introduction,which specifically consists of five sections,including research background,research significance,main research methods and ideas,domestic and foreign document summary and reviews,and article innovation points.Chapter 2 is theoretical analysis,the main content of which is the differences between the old and new income criteria as well as the change of income recognition model.It systematically expounds the income recognition model of YB company,the five-step method.The quantitative analysis is also made by combining theory with practice.Chapter3 explains the situation of YB company and the development of tourism e-commerce industry and analyzes the current income confirmation of YB company.Chapter 4 describes the problems of YB in the revenue recognition process,including the revenue recognition of the third-party payment platform with e-commerce platform features.The sales problems of virtual currency is analyzed.Chapter 5 elaborates on the accounting treatment of various actual economic activities encountered by YB in the course of operation and the requirements of the new standards.Chapter 6 is about conclusion,enlightenment,prospect and deficiency.Some suggestions are put forward for the implementation of the new guidelines,based on the above analysis of the new revenue criteria and the impact of the new guidelines on the Internet e-commerce platform industry.