Bank wealth management products purchased from basic deposit account Company shall be treated according to the new accounting standards:
1. At the time of purchase,
Debit: transactional financial assets-cost,
Loans: bank deposits,
2. When revenue is recognized,
Borrow: interest receivable,
Loan: investment income,
3. When returning the principal and interest,
Debit: bank deposit (including interest),
Loan: transactional financial assets-cost,
Credit: tax payable-VAT payable-output tax.