Since the existing difference of 600000 yuan (220 + 50-210) represents the completed and unsettled payment, which belongs to the unsettled part of the cost incurred by the construction party for performance, the following adjustments should be made: Debit: contract performance cost – project construction 60 ； project settlement ； 210 credit: Project Construction – contract cost 220 – contract gross profit ； 504 If the debit balance of “project construction – contract cost” + “project construction – contract gross profit” + “project settlement” credit balance is less than zero, Then the accounting adjustment is as follows: Debit: project settlement credit: contract performance cost – project construction cost – contract gross profit case 4: a construction enterprise on December 31, 2020, the relevant account balance data: “project construction – contract cost” account is 2.2 million yuan (debit), The “project construction – contract gross profit” account is 500000 yuan (debit), and the “project settlement” account is 3 million yuan (credit).
If the balance of the contract settlement account is debit, adjust it to the “contract assets – project funds (completed but not settled)” account; The balance of the contract item that has not been settled is adjusted to the credit account of the contract item.
3.
Add the “contract performance cost – project construction” account (calculated according to the project), and calculate the accounting content of the original “project construction – contract cost” account.
Add “contract assets” and “contract liabilities” and delete “engineering construction – contract gross profit”.
14 – Revenue (CK [2017] No.
It involves the recognition and carry forward of income, cost and profit of national construction enterprises! The specific accounting standard subject setting, connection and accounting are as follows.
According to the requirements of the Ministry of finance, non listed enterprises that implement the accounting standards for business enterprises shall go into effect as of January 1, 2021.
Under this account, “contract settlement – price settlement” account is set to reflect the amount settled with customers on a regular basis, Set the “contract settlement – Revenue carry forward” account to reflect the revenue amount carried forward according to the performance progress.
The account of “advance receipts” is adjusted to the account of “contract liabilities”.
22) replaces the provisions on revenue recognition and cost treatment in construction contracts in accounting standard 15 – construction contracts.
2.
02 accounting treatment 1 The project funds received in advance by industrial and commercial enterprises should be adjusted to the title of “contract liabilities”.
The adjustment entries are as follows: Debit: advance receipts credit: contract liabilities case 1: on December 31, 2020, the balance of advance receipts of a construction enterprise was 900000; adjustment entries: Debit: advance receipts 900000; Credit: contract liabilities 900000 2 Guarantee money is adjusted from “accounts receivable” subject to “contract assets” subject, and the term of guarantee is adjusted to “accounts receivable” subject.
The newly revised accounting standards for Business Enterprises No.
Case 2: on December 31, 2020, the balance of quality assurance deposit of a construction enterprise was 600000, and the adjustment entry was: Debit: contract assets – quality assurance deposit ￥ 600000; Credit: accounts receivable – quality assurance deposit ￥ 600000 3 If the debit balance of “project construction – contract cost” + “project construction – contract gross profit” debit balance – “project settlement” credit balance is greater than zero, Then the accounting adjustment is as follows: Debit: project settlement; contract performance cost – project construction; Credit: Project Construction – contract cost – contract gross profit case 3: a construction enterprise on December 31, 2020, the relevant account balance information: “project construction – contract cost” account is 2.2 million yuan (debit), The “project construction – contract gross profit” account is 500000 yuan (debit), and the “project settlement” account is 2.1 million yuan (credit).
4, guarantee money is adjusted from “accounts receivable” subject to “contract assets” subject, and the quality guarantee is adjusted to “accounts receivable” subject.
Since the existing difference of – 300000 yuan (220 + 50-300) represents the settled but not completed project, which belongs to the performance cost that has been settled but has not been incurred by the construction party, the following adjustments should be made: Debit: project settlement 300 credit: contract performance cost – project construction # 30 # project construction – contract cost # 220 – contract gross profit # 505 Since construction enterprises apply the construction contract standard and the new income standard, and the income recognized by adopting the completion progress or performance progress is basically the same, there is generally no need to adjust the income when the old and new standards are converted and connected..
01 account adjustment 1.
[supplement] “contract settlement”: this account is used to calculate the contract assets or contract liabilities under the same contract that are involved in the performance of performance obligations within a certain period of time and involve the settlement of consideration with customers.