The Study On The Revenue Recognition And Its Influence In The Telecom Industry Under The New Revenue Standard

In May 2014,IASB issued International Financial Reporting Standard No.15-revenue from contracts with customers(hereinafter referred to as ifrs15).In order to keep consistent with international financial reporting,the Ministry of finance of China issued accounting standard for Business Enterprises No.14 in July 2017 No.--income(hereinafter referred to as the new income standard),and the company that is listed in China and overseas at the same time is listed in overseas and uses international financial reporting standards or accounting standards for business enterprises shall be implemented as of January 1,2018.The new revenue standard unifies the revenue recognition model and no longer distinguishes between the sale of goods,the provision of services or other types.For the first time,it puts forward the "five step" model of revenue recognition,and replaces the previous "risk reward transfer model" with"control right transfer model",which is a major change for all enterprises.The promulgation of the new revenue standard will have an impact on many industries.Compared with the traditional industries,the telecom industry has a more complex business processing mode and is more affected by the standard.This paper mainly uses the way of writing before the theoretical description and after the case analysis.On the basis of reading a large number of domestic and foreign literature,it first introduces the relevant theories and contents of the new income standard,and then explains in detail the five step model under the new income standard and the main differences between it and the old income standard.Next,combined with the real business data of the business office,this paper analyzes the business which is significantly affected by the new income standard,such as bundling sales business,bonus business,social reward business,and how these business processing changes will affect the financial management and operation management of the company.This paper finds that the implementation of the new income standard affects the assets,liabilities and equity of China Telecom,and also makes its profits fluctuate,which affects the financial situation of the company,but the proportion of changes is not significant because the amount of changes is relatively small.But generally speaking,the disclosure of accounting information under the new income standard is more detailed and more in line with the essence of business,which is conducive to improving the management level of the company.At the same time,the new income standard gives the company's marketing department more flexibility,and also challenges the professional quality of financial personnel.Therefore,for the telecommunication industry,it is not only necessary to standardize the methods of revenue recognition,but also to keep learning To improve the professional judgment ability of accountants.At the same time,the regulatory authorities should also improve the regulatory efforts to jointly promote the healthy development of the telecommunications industry.