Research On The Application Effect Of New Revenue Standards In Online Game Industry ——Taking Sanqi Mutual Entertainment As An Example

Income is an indispensable component of the six elements of accounting.The recognition and measurement of income has always been a topic often discussed by scholars in accounting theory and practice.With the rapid development of China’s science and technology and economy,the increase of international trade and international exchanges,the development of market economy and the increase of business models,the original accounting standards are difficult to deal with new businesses and complex transactions,This phenomenon is particularly obvious in the online game industry and communication industry.Therefore,China’s accounting standards and international accounting standards are increasingly converging.In this context,China’s Ministry of Finance issued a new revenue standard in 2017 to solve the problems of revenue recognition in the online game industry that can not be effectively solved by the accounting standards of traditional industries.Through the comparative analysis of the implementation of the new revenue standards,explore the application effect of the new revenue standards in the online game industry.After the implementation of the new revenue standard,how does it change in various businesses of the online game industry? How to apply the balance sheet items and notes to financial reports of San Qi mutual entertainment game company,and what application effects does the new standard bring to enterprise income management,financial indicators and accounting information quality?This paper makes a comparative analysis of the old and new income standards from two aspects of theory and practical operation,selects Wuhu San Qi mutual Entertainment Network Technology Group Co.,Ltd.,which ranks top in China and whose main business is online games as an example,and analyzes the changes brought by the new revenue standards to the business of San Qi mutual entertainment company based on the company’s 2019 and 2020 annual reports through the business analysis of the company’s specific income such as virtual currency income and membership fee revenue;Observe the application of the new standards in the balance sheet items and the disclosure of notes,and analyze the effect of San Qi mutual entertainment on the revenue management,financial indicators and the quality of accounting information based on the new revenue standards.The study found that after the implementation of the new revenue standards,the online game industry has changed the recognition time point and measurement method of simulated prop income,membership fee income and precipitation income.After the application of the new revenue standards,San Qi mutual entertainment network technology company has more standardized enterprise income business management,changed financial indicators and improved the quality of accounting information.Firstly,the new revenue standards stipulate that,Revenue recognition should be based on the contract basis between enterprises and customers.There are unified standards for revenue recognition among different enterprises,making accounting information more comparable;Secondly,the addition of contract liability in the balance sheet leads to the increase of current liabilities and the change of revenue recognition time point,resulting in the adjustment of the amount recognized as revenue in the early stage in2020.In addition,the contents disclosed in the notes to the enterprise’s financial statements are more perfect,and the income and measurement methods need to be within the scope of disclosure.At the same time,this paper finds that game companies still have some problems in virtual currency income and precipitation income,and puts forward relevant suggestions from three aspects: strengthening the training of accounting personnel,the implementation of new standards for online game industry,and relevant departments to improve the new standards.