">
BlogBanner.jpg

Bramasol Compliance Team

Recent Posts

Join us for RevRec - Analytics Webinar and Leasing - Data Challenge Webinar next week

Posted by Bramasol Compliance Team on Wed, Jun 20, 2018 @ 07:00 AM

Disclosure and Analytics on SAP Analytics Cloud (Next Tuesday: June 26, 2018 - 10 AM PDT / 1 PM EDT)

At the end of the day, it is great to be compliant, but most companies aren't satisfied with just complying. They want to leverage compliance into competitive advantage. See how Bramasol's analytics platform provides you with insights that can drive meaningful action.

Learn about key metrics other companies are looking at and how to take advantage of real time views of Deferred Revenue, Impairments and POBs to understand how you can turn insights into action. Reserve your seat

banner-26JUNE-social-1

 

Leasing - The Biggest Challenge - Getting All the Data (Next Thursday: June 28, 2018 - 10 AM PDT / 1 PM EDT)

With hundreds of leases in dozens of countries and in multiple formats you need a way to gather all the data and load it into your leasing solution. But brute force won't get you there in time.

Bramasol, the leader in SAP Leasing, has developed a Data Abstraction and Migration process that will abstract all your data, prepare it, and load it into your lease accounting tool. Using OCR and Machine Learning, we can help you efficiently, accurately and quickly abstract and load data from hundreds or thousands of leases into your leasing solution. With only a few months to go, you need to get started today. Register Now

banner-28June-social-1

Subscribe to our newsletter and stay updated about upcoming webinars and events or do check all of them at one place

Once registered feel free to raise your concerns to our experts during webinar, they are happy to help!

 

 

 
 

 

 

 

Read More

Topics: weinar

Seven Lessons Learned from Adopting RevRec Standards

Posted by Bramasol Compliance Team on Tue, Jun 19, 2018 @ 04:02 AM

IgnitePossible-HotTip200x130A recent article in Accounting Today provides an interesting look back at lessons learned during the adoption of new Revenue Recognition standards, along with analysis of the implications for similar upcoming projects, such as implementation of new Lease Accounting standards.

Some key points in the article include:

"Public companies with a December 31 year-end have recently completed months-long (if not years-long) efforts on the adoption of ASC Topic 606, “Revenue from Contracts with Customers” (Topic 606). The adoption of Topic 606 has been one of the most time-consuming accounting projects taken on by most companies since Sarbanes-Oxley Act Section 404 over a decade ago. As Topic 606 effectively replaces all legacy GAAP rules around revenue recognition, it has far-reaching implications for all companies in all industry types.

Topic 606 is one of many planned changes in accounting literature that companies will be required to implement in the next few years. In the immediate horizon, Update 2018-01 – “Leases” (Topic 842) looms, which is applicable for most entities beginning in 2019. Similar to Topic 606, the provisions of Topic 842 are expected to have an impact on most companies from all industries. Accordingly, management should expect comparable obstacles in its adoption."

The article also notes that nearly half of private companies are still in the assessment phase of implementing the standard:

AccountingToday-SevenRecRecLessons

The seven Lesssons Learned and discussed in the Accounting Today article include:

  1. Planning
  2. Time
  3. Knowledge and Resources
  4. Internal Controls
  5. Disclosure
  6. Auditor Input
  7. Costs

Click here to read the full article in Accounting Today.

 

 

Read More

Topics: FinancialTransformation-Hot-Tips

Subscribe via E-mail

Request RevRec Consulting Support
Join the Rev Rec Ready LinkedIn Group

Latest Posts

Follow Me