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Academic Journal of Humanities & Social Sciences, 2019, 2(7); doi: 10.25236/AJHSS.2019.020704.

Recognition of Virtual Currency Sales Revenue of Online Game Companies

Author(s)

Shuqin Liu

Corresponding Author:
Shuqin Liu
Affiliation(s)

College of Management, Shanghai University, Shanghai 201800, China

Abstract

In recent years, the rapid development of the Internet has made online games very popular, so the problem of revenue recognition of virtual currency sales involved in online game companies is very realistic and important. Virtual currency is different from commodities in traditional economy, and its accounting treatment is also different. However, at present, the accounting standards of our country have no clear regulations on the accounting treatment of the recognition of virtual currency income. This leads to many problems in the practice of income recognition of virtual currency of online game companies in China. In order to make the income recognition of virtual currency more standardized, reasonable and comparable, this paper will, on the basis of reference to foreign literature, combine with the latest international income standard issued by the international accounting standards board in May 2014 - "international financial reporting standard No.15 - income from contracts with customers" (hereinafter referred to as "international financial reporting standard") Reporting Standard No. 15) provides some suggestions on the revenue recognition of virtual currency of online game companies in China.

Keywords

online games, virtual currency, revenue recognition

Cite This Paper

Shuqin Liu. Recognition of Virtual Currency Sales Revenue of Online Game Companies. Academic Journal of Humanities & Social Sciences (2019) Vol. 2, Issue 7: 29-36. https://doi.org/10.25236/AJHSS.2019.020704.

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