An In-depth Analysis of the Essence of Income

DOI

10.2991/ssmi-19.2019.24How to use a DOI?

Keywords

Contract, Revenue, the substance of transactions, Agency, Consignment stock, sales and repurchase agreement, ‘bill and hold’ sale.

Abstract

This paper considers recognize the contracts and use five steps to recognize revenue, the international financial framework standard 15 gives a clearly definition towards revenue. In this process, there will exist some transactions which their substance of account is different from the legal form, the specific items include the principal versus agent problems, consignment stock, sales and repurchase agreement and bill and hold sale. Towards these transactions, the entity should clutch its substance of account not its legal form. And this paper will give some methods and indicators to help the entity to recognized them and give the correct accounting treatment towards them.

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  - Haoran Wen
PY  - 2019/12
DA  - 2019/12
TI  - An In-depth Analysis of the Essence of Income
BT  - Proceedings of the 2nd International Symposium on Social Science and Management Innovation (SSMI 2019)
PB  - Atlantis Press
SP  - 9
EP  - 12
SN  - 2352-5398
UR  - https://doi.org/10.2991/ssmi-19.2019.24
DO  - 10.2991/ssmi-19.2019.24
ID  - Wen2019/12
ER  -