Study On The Influence Of New Income Criterion On Financial Statement Information Of Real Estate Enterprises

As one of the six elements of accounting,revenue is the key index to measure the business performance of enterprises.The recognition and measurement of income are easily influenced by national policies and regulations,the level of social and economic development and judgments of accounting practitioners.In recent years,with the continuous influx of emerging industries,the recognition and measurements of income are more complex,more scientific and reasonable and high-quality income standards,to meet the practical needs and ensure the comparability and standardization of accounting information between companies has important practical significance.On December 7,2015,the ministry of finance issued the "accounting standards for business enterprises no.14-revenue(amendment)(draft)".After obtaining a favorable response from the society,the ministry of finance selected 7 listed enterprises,including telecomputer,real estate,energy and transportation,to carry out the test of the income standards in March 2016 to understand the impact of the implementation of the standards on accounting practices.Based on a large number of in-depth studies,the new revenue guidelines were finalized on July 5,2017,namely CAS14(2017).The real estate industry has a pivotal strategic position in the national economy,with a long industrial chain and a high degree of correlation,which directly drives the development of multiple upstream and downstream industries and plays a leading and supporting role in many industries.By the first half of 2020,there are 137 real estate enterprises listed in Shanghai and shenzhen,among which only three are implementing the revenue criterion(2017),namely vanke,xincheng holding and beichen industrial,and the asset size and operating income level of these three real estate enterprises are different.Based on the formal rule of income(2017),combining with the characteristics of the real estate industry development,business processes,and after a rule change impact on the real estate enterprise revenue recognition and measurement analysis,the case company,vanke,metro holdings,beichen industrial the three in January 1,2018 executive income criterion(2017)of the real estate enterprise as an example,introduces the basic situation,combined with industry financial data contrast research revenue code changes impact on the enterprise’s financial information.For real estate enterprises,the implementation of the new standards after theincrease in the period of income recognition,statement items,financial indicators and information quality have a specific impact.From the perspective of real estate enterprises,code executors and regulatory departments,this paper provides relevant Suggestions on how to cooperate with the effective implementation of the new revenue code,so as to provide references for other listed real estate companies to implement the revenue code.