Accounting Impact of New Income Standards on Income Accounting of Construction Industry Enterprises

DOI

10.2991/icssed-19.2019.106How to use a DOI?

Keywords

Income criteria, Construction contract guidelines, Achitechive, Income accounting.

Abstract

On July 5, 2017, China's Ministry of Finance issued the revised “Accounting Standards for Business Enterprises No. 14 – Revenue”. One of the main amendments is to incorporate the original income criteria and construction contract criteria into a unified revenue recognition model. The new income standard has been gradually implemented since January 1, 2018. Once implemented, it will inevitably have a major impact on the accounting work of construction industry enterprises. Therefore, this paper analyzes the accounting impact of changes in new income standards on the income accounting of construction industry enterprises from three aspects of revenue recognition, measurement and disclosure.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Shen Zhirong
AU  - Ji Mengdi
PY  - 2019/05
DA  - 2019/05
TI  - Accounting Impact of New Income Standards on Income Accounting of Construction Industry Enterprises
BT  - Proceedings of the 2019 4th International Conference on Social Sciences and Economic Development (ICSSED 2019)
PB  - Atlantis Press
SP  - 563
EP  - 568
SN  - 2352-5398
UR  - https://doi.org/10.2991/icssed-19.2019.106
DO  - 10.2991/icssed-19.2019.106
ID  - Zhirong2019/05
ER  -