Research On The Impact Of Income Recognition Of Real Estate Enterprises Under The New Revenue Criterion

In order to match with the international revenue standards and solve the problems existing in the original standards,the ministry of finance,based on the actual conditions of China and taking IFRS15 as the benchmark,officially issued the accounting standards for business enterprises no.14--revenue,namely CAS14(2017)on July 5,2017.The revised standard makes clear the unified income recognition standard,which has made outstanding contributions to enhancing the comparability of accounting information and improving the quality of accounting information.As the mainstay of China's economic development,the real estate industry is promoting the continuous development of China's economy.Therefore,how the real estate industry responds to the new revenue guidelines has become one of the key topics of the industry.Based on the development status of the real estate industry and the income recognition of the real estate industry,this paper takes Seazen,which was listed in 2015,as the research object and combines the financial information of Seazen since its listing,to analyze the impact of the new revenue criterion on its income recognition.This paper focuses on the analysis of Seazen's revenue recognition internal regulations,revenue recognition methods,current status of revenue recognition,the impact of the new revenue criteria on the revenue recognition,measurement and reporting of Seazen,the impact on operation management and enterprise tax.It is found that the impact of the new revenue criterion on the income recognition,measurement and reporting of new town holding mainly lies in the delay of the revenue recognition time,the change of measurement amount and the listing of items such as the increase of "contract liability" in the statement items.After the implementation of the new revenue criterion,the asset scale of Seazen changed and the asset-liability ratio decreased,making the asset scale and asset-liability ratio closer to the true level of the enterprise.Seazen's operating income and net profit increased.At the same time,due to the difference between the new revenue criterion and the original revenue criterion,it has a great impact on the enterprise management.The new revenue standards on contract terms and other contents,so that the smooth implementation of the new standards in real estate enterprises requires the cooperation between the accounting department and other departments,especially the cooperation with the legal department,which requires the enterprise to adjust the internal control,organizational structure and personnel arrangement according to the new revenue standards.The enterprise should strengthen the internal control,establish the contract management system,upgrade the enterprise information system,and add the contract management module into the system.It is hoped that the research results of this paper can help other real estate enterprises to carry out their work and cope with the possible changes caused by the change of the standards in advance.