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Bramasol RevRec Team

Recent Posts

Video: CAQ Director Asks Are You Ready for RevRec Standards?

Posted by Bramasol RevRec Team on Wed, Jun 21, 2017 @ 03:14 PM

RevRecReady-HotNews.jpgIn the 100th episode of "Inside America’s Boardrooms," the Center for Audit Quality (CAQ) Executive Director Cindy Fornelli joins host TK Kerstetter to discuss key steps for boards that are assessing implementation of the new revenue recognition standard.

Implementing the new standard will take a significant amount of time and resources for audit committees and stakeholders throughout each company.

Watch this short video summary of what companies need to be doing now:

 

Watch the complete video on the CAQ web site here.

All companies who have chosen the Modified Retrospective approach to compliance for ASC 606 and IFRS 15 will be required to "Dual Report" for a period of 1 year under both the old and new standards (ASC 605 and 606 respectively). Many firms will struggle with this needlessly, choosing spreadsheets or convoluted approaches. SAP RAR solves that problem.

To learn more about dealing with this critical issue, click below to join Bramasol for the next Revenue Recognition Webinar on June 28 at 10 AM PDT - 1 PM EDT.

"Dual Reporting - How SAP RAR Facilitates Gathering and Reporting Key Data"

 

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Topics: revenue recognition

Per WSJ: Many Companies Are Falling Behind on RevRec

Posted by Bramasol RevRec Team on Wed, Jun 14, 2017 @ 10:37 AM

RevRecReady-HotNews.jpgThere are only six months left before the mandated adoption of new Revenue Recognition standards ASC 606 and IFRS 15.

Since companies need to comply with legal disclosure reporting requirements, including a retrospective dual-reporting period between current ASC 605 and new ASC 606, it is critical that you have a clear disclosure reporting plan in place, NOW!

The Wall Street Journal (WSJ) published an article on June 5, 2017 titled "Tech Teams Rush to Catch Up as New Accounting Rule Looms", which provides an excellent overview of what companies are up against as the countdown clock races toward the January 2018 deadline.

Here is a key excerpt from the article:

"For large corporations, the task is arduous and complicated: Accountants are scouring thousands of bills and contracts to determine if they must change how they book the sales for fiscal years beginning after Dec. 15. Meanwhile, tech departments are writing new code, upgrading their systems and investing in expensive new software as they work to ensure their increasingly automated finance operations can keep up.

It’s not clear all of them can.

For large corporations, the task is arduous and complicated: Accountants are scouring thousands of bills and contracts to determine if they must change how they book the sales for fiscal years beginning after Dec. 15.

 

Meanwhile, tech departments are writing new code, upgrading their systems and investing in expensive new software as they work to ensure their increasingly automated finance operations can keep up.

It’s not clear all of them can."

The article also states that: "Large companies often have legacy IT systems cobbled together over decades and through multiple acquisitions. Changing something as integral as revenue recognition often means dismembering the complex systems and then putting them back together".

Overcoming these challenges is the primary goal of SAP Revenue Accounting and Reporting (RAR), which was designed from the bottom up as a powerful, flexible RevRec reporting engine that can be used with existing SAP ECC and a wide range of 3rd Party ERP and legacy financial systems.

As a co-innovator with SAP on the development and deployment of SAP RAR, Bramasol is the industry leader in helping companies come to grips with the reality of the new RevRec standards.

Part of our work on this topic has been hosting a series of monthly Revenue Recognition Webinars for over 18 months. Click Here to view Videos of Past Revenue Recognition Webinars.

To learn the latest about Disclosure Reporting and the Dual-Reporting requirements referenced above, click below to register for June 28 Webinar on Dual-Reporting with SAP RAR.

Register for June 28 RevRec Webinar Dual-Reporting with SAP RAR

 As the leaders in SAP RevRec we can help you be prepared and ready…  

Call us at (866) 625-9878 or Click Below to Request RevRec Help

Request RevRec Consulting Support

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Topics: revrec hot-tips, RevRec hot-news

New RevRec Webinar June 28: Dual Reporting with SAP RAR

Posted by Bramasol RevRec Team on Sat, Jun 10, 2017 @ 03:28 PM

There is now only a little over six months before the mandated adoption of new Revenue Recognition standards ASC 606 and IFRS 15.

Since companies need to comply with legal disclosure reporting requirements, including a retrospective dual-reporting period between current the current ASC 605 and new ASC 606, it is critical that you have a clear plan in place, NOW!

Join us for the next Revenue Recognition Webinar on June 28 at 10 AM PDT - 1 PM EDT.

"Dual Reporting - How SAP RAR Facilitates Gathering and Reporting Key Data"

 

All companies who have chosen the Modified Retrospective approach to compliance for ASC 606 and IFRS 15 will be required to "Dual Report" for a period of 1 year under both the old and new standards (ASC 605 and 606 respectively). Many firms will struggle with this needlessly, choosing spreadsheets or convoluted approaches. SAP RAR solves that problem.

In this webinar, we will show you how to simplify, automate and improve auditability of the data for your 10K/10Q reporting.

Click Here to Register for the June 28 RevRec Webinar.

Webinar-June28.jpg

 

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Topics: revenue recognition, SAP RAR

RevRec Webinar Video: The Big Reveal. Disclosure Reporting in SAP RAR

Posted by Bramasol RevRec Team on Wed, May 3, 2017 @ 09:03 AM

We invite you to view the latest installment in Bramasol's highly successful Revenue Recognition Webinar Series.

Recorded on April 27, 2017 this new webinar focuses on:
"The Big Reveal: Disclosure Reporting in SAP RAR"

Disclosure reporting is how you will "reveal" to the SEC and the world the decisions you made and implications for how you applied the new ASC 606 and IFRS 15 standards.

In this webinar video we explore the types of disclosure reporting required under the new ASC 606 and IFRS 15 standards for Revenue Accounting, including such things as backlog, deferred positions/revenue and asset and liability impacts. The video includes examples of the types of reports used that can leverage RAR

If you are a CFO, CAO, or Controller who doesn’t want to risk the impacts of failing an audit due to non-compliance with the new FASB and IASB Revenue Recognition standards or failure to properly make required disclosures, then you need to watch this presentation.

Click Here to View the Video of this New Webinar and all Previous RevRec Webinars in the Series

 April27 webinar

 

New Webinar Series on ASC 842, IFRS 16 and Lease Accounting.  Register Here.

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Topics: revenue recognition, SAP RAR

RevRec Webinar Video: SAP RAR 1.3 A Deeper Dive into New Functionality

Posted by Bramasol RevRec Team on Fri, Feb 24, 2017 @ 05:33 AM

We invite you to view the latest installment in Bramasol's highly successful Revenue Recognition Webinar Series.

Recorded on February 23, 2017 this new webinar focuses on:
"SAP RAR 1.3 - A Deeper Dive into New Functionality"

SAP RAR 1.3 is packed with so much new functionality that it took two webinars to go through it all.  This webinar followed up on the first overview of SAP 1.3 held in January 2017 and provided a deeper look at key issues such as:

  • Currency Re-evaluations Based on Payment Terms
  • Sales contracts with Sales Order Call Off
  • A Further Look at Consistency Checking

In this video we show the latest features in SAP RAR 1.3 and discuss how they apply to helping your company get #RevRevReady before the January 2018 deadline. The presentation includes a live Q&A.

Click Here to View the Video of this New Webinar and all Previous RevRec Webinars in the Series

 SAP-RAR-1.3-DeeperDive.jpg

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Topics: revenue recognition, SAP RAR

RevRec Webinar Video: SAP RAR 1.3 New Features and Functionality

Posted by Bramasol RevRec Team on Thu, Jan 26, 2017 @ 01:55 PM

We invite you to view the latest installment in Bramasol's highly successful Revenue Recognition Webinar Series.

Recorded on January 26, 2017 his new webinar focuses on:
"SAP Revenue Accounting and Reporting (RAR) 1.3 - New Features and Functionality"

Building on previous releases of SAP Revenue Accounting and Reporting, SAP RAR 1.3 includes important new features to help companies with foreign currency, improved consistency checks, and other areas. Join us for an overview of the new system features and a live demo of SAP RAR 1.3.

In this webinar we show the latest features in SAP RAR 1.3 and discuss how they apply to helping your company get #RevRevReady before the January 2018 deadline. The presentation includes a live Q&A.

Click Here to View the Video of this New Webinar and all Previous RevRec Webinars in the Series

 Jan26-Webinar-Video.jpg

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Join Bramasol at SAP-Centric Financials Feb 21, 2017

Posted by Bramasol RevRec Team on Tue, Jan 3, 2017 @ 10:45 AM

Join Bramasol at SAP-Centric Financials - Feb 21-22, 2017 in Dallas, TX.

 Large-Banner-Fin.jpg

SAP Technologies are evolving at a rapid pace. These Technologies will allow your business to be customer centric and agile in your approach to process. The SAP-Centric Financials Conference has been designed by customers who want to hear case studies from Organizations who have implemented S/4HANA Finance, are driving Financial reporting and planning processes accurately and those who are using current systems to their full capability.

Join us on February 21 -22 in Dallas TX to hear 19 Customer presentations covering your most pertinent challenges. You will leave the conference understanding SAP’s Roadmap for Finance, How to perform Financial Planning and Analysis that enables your business to allocate resources smartly, and how to maximize the usage of your current ERP system. For more information on this conference please visit www.sapcentricfinancials.com

Bramasol's Larry McKinney and SAP's Pete Graham will be presenting on Feb 21 at 12:05 PM.

"In-Depth Guide to Getting #RevRecReady"

Two of the most important issues facing CFOs today are the new Revenue Recognition and Leasing regulations.   For many companies, there is less than a year to be ready to comply.  Bramasol and SAP have the tools and methodologies to help companies comply with the new ASC606 and IFRS15 regulations for revenue recognition.   Using the experience, expertise and methodologies proven on dozens of projects we will show you how to solve complex RevRec issues such as variable consideration, dual reporting and complex project systems.   We will provide a view in the latest SAR RAR system and a live demo of these key areas.   Leave this presentation feeling #RevRecReady

Click Here to Register for SAP-Centric FinancialsFINANCIALS-logo-black-green-stack1.png

 


Larry McKinney
Larry McKinney
Vice President of Strategy, Bramasol, Inc
 
Pete Graham
Pete Graham
Director of Financial Solutions, SAP
 
Join Bramasol & SAP in the  Revenue Accounting and Reporting  User Group: Register Here
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Topics: SAP RAR, revrec

See Bramasol Talk RevRec at SAP-Centric Financials Feb 21

Posted by Bramasol RevRec Team on Wed, Nov 2, 2016 @ 06:24 AM

Join Bramasol at SAP-Centric Financials - Feb 21-22, 2017 in Dallas, TX.

Bramasol's Lasry McKinney and SAP's Pete Graham will be presenting on Feb 21 at 12:05 PM.

"In-Depth Guide to Getting #RevRecReady"

 

Two of the most important issues facing CFOs today are the new Revenue Recognition and Leasing regulations.   For many companies, there is less than a year to be ready to comply.  Bramasol and SAP have the tools and methodologies to help companies comply with the new ASC606 and IFRS15 regulations for revenue recognition.   Using the experience, expertise and methodologies proven on dozens of projects we will show you how to solve complex RevRec issues such as variable consideration, dual reporting and complex project systems.   We will provide a view in the latest SAR RAR system and a live demo of these key areas.   Leave this presentation feeling #RevRecReady

Click Here to Register for SAP-Centric Financials

FINANCIALS-logo-black-green-stack1.png


Larry McKinney
Larry McKinney
Vice President of Strategy, Bramasol, Inc
 
Pete Graham
Pete Graham
Director of Financial Solutions, SAP
 
Join Bramasol & SAP in the  Revenue Accounting and Reporting  User Group: Register Here
Read More

Topics: SAP RAR, revrec

Webinar Video: Variable Consideration Approaches using SAP RAR

Posted by Bramasol RevRec Team on Thu, Oct 27, 2016 @ 02:48 PM

The video of Bramasol's newest RevRec webinar, "Variable Consideration Approaches using SAP RAR" is now available for viewing online.  

Recorded on October 27, 2016, this webinar addresses the various challenges presented by the new ASC606 and IFRS15 regulations regarding Variable Consideration and shows how SAP RAR and Bramasol can help solve them. The presentation was followed by a live Q&A.

If you deal with rebates, performance bonus or penalties, coupons, or contingencies, you should view this webinar.

With only 14 months to the January 2018 deadline, these drill-down issues have become critical for companies in order to get #RevRecReady .

Click here to view this latest webinar as well as all webinars in our highly regarded RevRec Webinar Series.

Oct27Webinar.jpg

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Topics: revenue recognition, SAP RAR, revrec

Next RevRec Webinar Oct 27: Variable Consideration

Posted by Bramasol RevRec Team on Wed, Oct 19, 2016 @ 03:59 PM

On October 27, 2016 at 1 PM EDT / 10 AM PDT we invite you to see the next installment in our highly successful Revenue Recognition Webinar Series. This new webinar will focus on:
"Variable Consideration and SAP RAR - How to Solve VC Challenges in SAP RAR"

Reserve your seat now by registering here. 

Oct-27-_Regular-size_Banner.jpg

If you deal with rebates, performance bonus or penalties, coupons, or contingencies, you need to attend this webinar. The rules for how you deal with these issues for revenue accounting have changed, but the good news is that SAP and Bramasol have developed solutions to help.

In this webinar we will talk about the various challenges presented by the new ASC606 and IFRS15 regulations regarding Variable Consideration and show you how SAP RAR and Bramasol can help solve them. The presentation will be followed by a live Q&A.

We look forward to seeing you there.  Take action today by signing up.

 

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Topics: revenue recognition, SAP RAR