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Webinar Video: SAP Real Estate Management (RE-FX)

Posted by Bramasol Leasing Administration Team on Tue, Sep 12, 2017 @ 01:52 PM

The video of the latest webinar in our series on financial management topics is now available for viewing.

Recorded on September 12, 2017, "Save Time and Money with SAP RE-FX - the latest release" covers key functionality now available in SAP Real Estate Management.

SAP Real Estate Management is a full-featured, integrated solution for managing real estate. The solution supports all phases of the life cycle of real estate assets, including the acquisition or disposal of real estate, management of the real estate portfolio itself, property and technical management, and support processes like management accounting and reporting.  

Click here to access this video and videos from other previous webinars.

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Topics: leasing

Webinar Video on SAP Lease Administration by Nakisa

Posted by Bramasol Leasing Administration Team on Fri, Sep 8, 2017 @ 08:19 AM

The video of the latest issue in our highly successful webinar series for finance professionals is now available for viewing online.

Recorded August 29, 2017, this webinar focused on "What's New with Lease Administration by Nakisa"

Nakisa has announced the release of version 4.0 of Lease Administration by Nakisa, which is a SAP Solution Extension, co-developed with SAP and also sold by SAP as SAP Lease Administration by Nakisa and is the only equipment leasing solution sold and supported by SAP for lease accounting standards.

The new features in 4.0 add powerful accounting functionality essential for enabling compliance, including lease determination support and lease event management. Lease Administration by Nakisa’s expanded capabilities will also allow companies to leverage data in non-SAP systems.

This new version 4.0 can now make use of parallel accounting in SAP, with enhanced central governance and segregation of duties allowing for greater security and control over the process.

“We have hit a critical point on our path towards compliance where any business not making concrete actions and steps is at considerable risk. With version 4.0, customers can accelerate their go-lives, minimize effort and reduce risk by leveraging native connectivity with SAP ERP Financials.” said Romeo De Leon, Global Manager of Finance Line of Business at Nakisa.

This video provides an update on new functionality in Lease Administration by Nakisa and details what companies need to be doing now in order to be ready for compliance with the new standards.

Click here to access this and other videos from the Bramasol webinar series.

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Topics: financial transformation, S/4 HANA Cloud

Webinar Video on Financial Transformation with S/4HANA and Cloud Analytics

Posted by Bramasol Financial Transformation Team on Fri, Aug 25, 2017 @ 09:16 AM

The video of the latest issue in our highly successful webinar series for finance professionals is now available for viewing online.

Recorded on August 22, 2017, this webinar focused on Financial Transformation with S/4HANA Cloud ERP & Cloud Analytics

In the video, we present an overview of how S/4HANA Cloud ERP and Analytics provide the building blocks for fueling Financial Transformation. In addition to discussing the S/4HANA enabled Digital Core, we also drill-down with specific examples of how SAP Cloud Analytics can identify and help resolve operational issues in S/4HANA Cloud.

Click here to access this and other videos from the Bramasol webinar series.

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Topics: financial transformation, S/4 HANA Cloud

RevRec Webinar Video: Ease the Burden of Complex Disclosure Reporting with Pre-Built Reports

Posted by Bramasol RevRec Team on Sat, Jul 29, 2017 @ 08:51 AM

The video is now available for Bramsol's latest installment in our highly successful Revenue Recognition Webinar Series.

"Ease the Burden of Complex Disclosure Reporting with Bramasol's Pre-Built Reports"

Presented on July 27, 2017, this webinar focused on how companies can quickly flesh out their disclosure reporting processes, with less than six months left until the mandated adoption of new Revenue Recognition standards ASC 606 and IFRS 15.

Disclosure reporting under ASC 606 for RevRec will be complex and require extensive quantitative and qualitative data and notes. Spreadsheets are not up to the task. Learn how Bramasol can save you time and money on your preparation and audit for Financial Disclosures for your 10K/10Q.

We have developed 10 key reporting tools that gather the majority of key information for you and present them in easy to use formats.

Click Here to View this Video and previous RevRec Webinars in this series.

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Topics: revenue recognition

New eBook: Configuring Optimal User Interfaces with Fiori and S/4HANA Cloud Digital Core

Posted by Bramasol Financial Transformation Team on Tue, Jul 25, 2017 @ 10:02 AM

Many forward-looking companies, led by innovative CFOs and IT departments are already proactively undertaking projects aimed at fundamental Financial Transformation.

The key technology trends that are enabling transformation include:

  • New-generation architectures, such as SAP S/4HANA, that combine core ERP & Finance systems with plug-in modular best-of-breed capabilities for revenue recognition, leasing, ecommerce, HR, travel, supply chain management, and more.
  • A “single version of the truth” approach that avoids discussions of who’s data is right, thereby enabling much faster and better tactical decision-making.
  • Cloud-based implementation options that can greatly reduce time-to-operation and which integrate seamlessly with in-house implementations to enable cost optimization along with flexibility and scalability to support growth.
  • Advanced real-time analytics and user interface (UX) technologies that can access information throughout the unified systems and provide easily tailored comprehensive reporting for ongoing management or ad hoc decisions.

The last item above is the topic of the new eBook, "Configuring User Interfaces for Financial Operations with Fiori and S/4HANA Cloud"

Bramasol is a co-innovation leader in the implementation of the SAP S/4HANA Cloud, which provides a high-performance, in-memory, and extensible Digital Core for implementing the above initiatives and integrating a wide range of best-of-breed functionality. Deployable in the cloud or on-premise, SAP S/4HANA can drive instant value across all lines of business – no matter the industry or business size.

S/4HANA Cloud consists of a modular set of best-of-breed Editions, which provide a flexible, extensible ERP platform that can scale and expand to meet changing business needs. New capabilities and users can be added as you need them, quickly and easily.

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Through SAP FIORI 2.0 and embedded analytics, Bramasol helps our customers release the intelligence and data within the system to serve corporate users in a meaningful way that drives productivity and smarter decision-making.

Bringing these technology opportunities to bear on the current and future challenges facing CFOs and their staff requires both an understanding of what the technologies offer and how they can apply to each company’s unique needs both today and over the long run. Bramasol’s Value-Added Services for S/4HANA and the Digital Core.

Fill out the form below to download the new eBook, "Configuring User Interfaces for Financial Operations with Fiori and S/4HANA Cloud"

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Topics: S/4 HANA Cloud

FASB Board Member Urges All Companies to Evaluate Impacts of New RevRec Standards

Posted by Bramasol RevRec Team on Fri, Jul 21, 2017 @ 08:45 AM

RevRecReady-HotNews.jpgIn an interview on July 12, 2017 with the Center for Audit Quality, FASB Board Member Christine Botosan discussed the importance of all companies evaluating the impacts of new Revenue Recognition standards on their organizations.  

She cited the SEC's position that disclosure reporting on this issue will be required of public companies, regardless of whether revenue levels are materially changed and also underscored that companies can't know the materiality of changes without doing an evaluation per the new standards.

Watch the entire interview below.

 

 

If you want to get a jump on your own disclosure reporting process, click here to register for our next webinar "Ease the Burden of  Complex Disclosure Reporting with Bramasol's Pre-Built Reports".

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Topics: revenue recognition

Disclosure Reporting for Revenue Recognition: What You Need to Be Doing Now

Posted by Bramasol RevRec Team on Wed, Jul 5, 2017 @ 07:58 AM

There is less than 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 ASC 605 and new ASC 606, it is critical that you have a clear disclosure reporting plan in place, NOW!

According to an SEC official at a recent Bloomberg BNA conference, "a number of companies have enhanced their transition disclosures. However, some companies indicate that the impact of the new revenue standard is not expected to be material. The changes in the new revenue standard will impact nearly all companies. Even if the extent of change on the balance sheet or income statement is not deemed to be material, the related disclosures may be material."

Compliance with the law is Not Optional.

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Even before the January 2018 go-live date for the new standards, companies will need to start disclosing information regarding the impending changes as part of their regular 10Q and 10K financial reports.

This new eBook provides an overview of how the new standards will impact both business operations and financial reporting. Subsequent sections offer a deeper look at how companies can comply with the new revenue accounting standards while efficiently using the Operational Report data to inform and drive their Statutory Reporting requirements, such as Income Statement, Balance Sheet, Cash Flow, etc.

Please complete the info below to read the eBook:

 

 

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Topics: revenue recognition

RevRec Webinar Video: Dual Reporting How SAP RAR Facilitates Gathering Key Data

Posted by Bramasol RevRec Team on Wed, Jun 28, 2017 @ 03:07 PM

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

Recorded on June 28, 2017 this new webinar focuses on:
"Dual Reporting - How SAP RAR Facilitates Gathering Key Data"

There are only 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 ASC 605 and new ASC 606, it is critical that you have a clear disclosure reporting plan in place, NOW!

All companies that 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. Many firms will struggle with this needlessly, choosing spreadsheets or convoluted approaches. SAP RAR solves that problem.

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

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

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Topics: revenue recognition, SAP RAR

SEC Chief Accountant Cites Need for Urgency on RevRec

Posted by Bramasol RevRec Team on Tue, Jun 27, 2017 @ 03:39 PM

RevRecReady-HotNews.jpgIn his recent remarks to the Annual Life Sciences Accounting and Reporting Congress, the SEC Chief Accountant, Wesley R. Bricker, underscored the importance of urgency on implementing new Revenue Recognition standards.

He placed particular emphasis on making sure that "appropriate transition disclosures are being made so that investors and other market participants have sufficient time to absorb the anticipated effects of the new standard."

Here are some other key highlights from his remarks:

"Timely implementation of the new revenue standard is important. Since my remarks in December 2016 when I said the overall state of readiness may be lagging, progress has been made, but there is still more to do.

Revenue is one of the single most important measures used by investors in assessing a company's performance and prospects, regardless of a company's industry, the nature of its securities, or the capital markets it accesses. Revenue impacts key analytical ratios and bottom line earnings. Companies cannot afford to get the accounting wrong – it deserves close attention by preparers, audit committees and auditors.

The standard, including the disclosures in accordance with the standard, is an important step forward in financial reporting, both domestic and foreign, and when implemented, it is designed to enhance the comparability of companies' reported revenues."

Regarding the state of progress toward implementation, he said:

"In the worrisome column, however, some companies need to make significant progress this year in their implementations.  In a survey of public companies released in October 2016, eight percent of respondents at that time had not started an initial assessment of the new revenue recognition standard, while an overwhelming majority of the others were still assessing the impact. 

Particularly for companies where implementation is lagging, preparers, their audit committees and auditors should discuss the reasons why and provide informative disclosures to investors about the status so that investors can assess the implications of the information. Successful implementation requires companies to allocate sufficient resources and develop or engage appropriate financial reporting competencies.

Successful implementation requires the engagement of senior management throughout an organization.  If there are individuals within your organization that underestimate the efforts required, or the overall importance of a successful implementation of the new revenue recognition standard, you might consider sharing some of our staff remarks on the topic"

To read the full text of Mr. Bricker's click here.

To learn more about getting #RevRecReady and for guidance on handling Disclosure Reporting during the transition, visit Bramasol's Resource Center or click the link below to request a RevRec Consultation.

Request RevRec Consulting Support

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Topics: revenue recognition

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