Research On The Revenue Recognition And Measurement Issues Of Power Grid Enterprises Under The New Revenue Standard

Power grid industry is one of the lifelines of the national economy.The development model of the whole industrial chain makes it highly related with many industries.Power grid industry is one of the lifelines of the national economy.The development model of the whole industrial chain makes it highly related with many industries.In 2015,power grid enterprises carried out internal system reform,changed the previous business model of unified purchase and marketing,and adopted the way of "diversification + operation and maintenance specialization".Under such a reform background,enterprises have diversified types of external business and complex contract contents.n the specific application of the new income standard,corporate accounting is severely affected.Since the Ministry of Finance revised the new revenue standard in May 2017,the problem of poor income comparability among industries caused by the inconsistent revenue recognition methods and standards of the old revenue standard has been corrected,However,at the same time,the professional level of financial practitioners in China is uneven,and there are differences in their understanding and mastery of the standard.The current income standard is principle oriented,There is no targeted guidance on the recognition and measurement of business income in many industries.There is a difference in the recognition and measurement of the revenue for the above reasons,and the possibility of the comparison of accounting information is weaken to some degree.Taking Qingdao Laxi Power Supply Branch as an example,this paper deeply analyzes the application of new revenue standard to existing problems.Through a large number of literature and field investigation,it is found that the case enterprise has the following problems: due to the low adaptability between the contract terms and the new income standard,the enterprise has a large number of accounting estimates,As a result,the income recognition and measurement of enterprises are not accurate,and the net presentation of contract assets and liabilities not only leads to poor account quality,but also leads to significant changes in inventory balance and asset-liability ratio.The simplified management of contracts leads to incomplete disclosure,The disclosure form is larger than its core d.Analyze the causes of complaints and put forward reasonable suggestions: first,through the integration of industry and finance,prepare the contract standing book in line with the new income standards and business needs to solve the problem of contract identification.Secondly,Improve the professional competence of financial managers and reduce the discrepancies caused by valuations.Finally,relying on the big data algorithm,according to the current enterprise financial development,simulate the financial statements,accurately find the lack of information in financial disclosure,and promote the disclosure to be more detailed and understandable.