| The real estate industry plays an important role in the world’s economic development and is an important pillar industry in China.In 2006,China has formulated relevant standards,but there is no unified standard for the recognition of their income.Many real estate enterprises confirm their income according to their own methods,resulting in the confusion of their income recognition and the lack of unified management.In order to solve the above problems and maintain the convergence with IFRS 15,China issued a new revenue standard in 2017,which will be implemented in batches in 2018,2020 and 2021 according to the listing location and the development status of enterprises.This involves the new concept and the adjustment of related accounting subjects of the new revenue standards,the revenue recognition theoretical framework reintegration,so that the recognition of real estate enterprise income can be unified,enhance the comparability and timeliness of financial information.This paper plans to discuss the impact of the comprehensive implementation of the new income standard and the impact on the financial situation of real estate companies.Through the study and analysis of Country Garden cases,it can provide reference for other real estate enterprises,so as to deal with the impact of the new income standards in a more standardized and efficient way.This paper collects relevant data and data through the application guide of the Accounting Standards for Business Enterprises,Oriental Fortune Network,Wind database,the official website of the National Bureau of Statistics and the official website of Country Garden,draws on relevant literature,and takes Country Garden as the research object,and analyzes the impact of the new income standards on it.By using the literature research method,the case analysis method,and the comparative analysis method,First,comb through and integrate relevant concepts and theories,Through a combination of theory and practice,A comprehensive and systematic analysis of China’s real estate industry;Reanalyze the motivation and content of the revision of revenue standards in China,By exploring the old and new income criteria,Find the deficiencies of the old income standards and the impact of the new income standards on real estate enterprises;Then explain why Country Garden is an example,Through the analysis of its development situation,operation mode and asset composition to pave the way for the following text;Then analyze the 2017 annual financial statements before and after the application of Country Garden’s new revenue standards,Draw the impact on its balance sheet,income statement and statement disclosure;Through the longitudinal analysis of Country Garden itself before and after the implementation of the new revenue criteria and the horizontal analysis of the same industry,Find out the positive effects of the implementation of the new revenue guidelines.Through the case study of Country Garden,this paper draws the following conclusions: First,the implementation of the new revenue criteria makes the overall revenue recognition point of Country Garden advance.By distinguishing the revenue recognition point,revenue according to a certain period and a certain point.Second,by analyzing the changes of financial indicators before and after the implementation of the new revenue standards,the financial data can more truly reflect the development status and future development trend of the industry,improve the quality of accounting information,strengthen the investment decision of investors,and reduce the space for enterprise earnings management.Third,with the advancement of new revenue criteria,from strengthening contract management and audit,improve the professional ability of financial personnel,improve the information disclosure,the problems existing in the timely feedback practice,strengthen each link control,avoid part of the enterprise whitewash statements,inflated income,to enhance consumer trust in the real estate industry. |
