Thoughts on Accounting Standards for Enterprises No. 14 - Revenues (Amendment) (Exposure Draft)

摘要

At the beginning of 2015, the Ministry of Finance (MoF) formulated the Accounting Standards for Enterprises No. 14 - Revenues (Amendment) (Exposure Draft) for the purpose of regulating the recognition and measurement of the revenues, and the disclosure of the relevant information and then obtaining a substantial convergence between Chinese Accounting Standards (CAS) and the International Financial Reporting Standards (IFRS). This paper provides the author's thoughts on the convergence between Chinese revenue recognition standards into the new international revenue recognition standards by comparing the Exposure Draft and the current Standards.