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SAPInsider Financials: Key Sessions on Leasing and Revenue Recognition

Posted by Bramasol on Mon, Mar 13, 2017 @ 07:00 AM

Please join with Bramasol at SAPInsider Financials March 21-24, 2017 in Las Vegas, NV to learn about the latest solutions and methods for dealing with Leasing Administration and Revenue Recognition requirements.

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Bramasol and our partners will be presenting the following four sessions at SAPInsider.

SAP Leasing: What You Need to Know Now
1:30-2:30 PM on Wednesday, March 22

Bramasol and Nakisa will discuss Balance Sheet and P&L impacts from new leasing standards (ASC 842 and IFRS 16) along with a live demo of the latest Nakisa software ans SAP Real Estate Management solutions.

Leasing Deep Dive Session
4:30-5:30 PM on Wednesday, March 22

Trillions of dollars in capital and operating leases must be added to balance sheets as Right of Use (ROU) assets starting in 2019. Bramasol will offer a detailed exploration of the impacts to lessee companies in terms of process and system changes as well as important dual-accounting issues for international companies.

SAP Revenue Accounting and Reporting. How to Get RevRecReady. Bramasol and BorgWarner
10:15-11:15 AM on Thursday, March 23

Bramasol will detail how you can get ready to comply with the new standards.  We will show you the latest SAP RAR software in a live demo and provide a road map for a successful project. We will also be featuring a guest speaker from BorgWarner who will talk about their RevRec journey and how they are using Bramasol and Nakisa to help them be ready on time.

Get Ready Now for Project Systems Changes for Revenue Recognition coming in 2018
8:15-9:15 AM on Friday, March 24

Bramasol will discuss Project Systems analysis configuration changes that are required to integrate with the new SAP Revenue Accounting and Reporting solution. You will learn about choices in SAP RAR for project cost recognition, synchronization of SAP ECC user status, and project and profitability analysis revenue recognition reporting. Includes a take home guide for navigating through SAP ECC and SAP RAR configuration setup to enable project-centric recognized revenue.

 In addition to the above presentations, you can also come by the Bramasol booth #618 any time to see the latest solutions and get a personal consultation.

Click Here to Schedule an Appointment at SAPInsider

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Topics: revenue recognition, leasing

SAP-Centric Financials - Let's Talk About Leasing

Posted by Bramasol Leasing Administration Team on Fri, Feb 17, 2017 @ 07:45 AM

Big Changes Are Coming for Lease Accounting Standards

Join us at SAP-Centric Financials, Feb 21-22 in Dallas, TX, Booth #13 to learn more about these changes and to discover what you can do to prepare for them.

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In early 2016, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) issued new requirements for lease accounting. Both IFRS 16 and ASC 842 are the result of the IASB and FASB efforts to meet the objective of improved transparency, comparability and financial reporting.

In addition to presenting a new set of challenges that need to be addressed by the end of this year, the changes in lease accounting also offer an excellent opportunity for companies to make major improvements in their end-to-end lease management practices.

All companies, whether lessors, lessees or both, need to leverage the process of changing their lease management methodologies. This will enable them to gain better visibility of their lease portfolios, streamline the process of lease management and reduce overall costs.

The opportunities for significant improvements span all lease categories, including:

  • Real Estate Leases
  • Equipment Operating Leases
  • Software Leases

As an innovation partner with both SAP and Nakisa, Bramasol brings together a  range of solutions and  expertise to help you assess and implement the FASB and IASB leasing standards. These solutions unify disparate leasing data and provide a clear view to make informed decisions on leasing liabilities while conforming with the new requirements.

At SAP-Centric Financials, Bramasol and Nakisa will be providing an update on the latest SAP Leasing solutions aimed at helping you get ready for IFRS 15, 16 and ASC 842 while also optimizing company-wide lease management.

Click here for an overview of Lease Administration by Nakisa.

 

 

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Topics: leasing

SAP Insider Financials2016: See Nakisa on Leasing & Bramasol on RevRec

Posted by Bramasol RevRec Team on Wed, Mar 9, 2016 @ 01:42 PM

Reminder that SAP Insider Financials2016 is March 15-18, 2016!

If you'll be in Las Vegas next week, here are two important must-see presentations that will be critical for the success of your company's compliance programs!

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Click below to Add These Events to Your Schedule:
Add: Nakisa Session March 15 

Add: Bramasol Session on March 16

See the full schedule of events.

Hope to see you in Vegas!

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Topics: revenue recognition, leasing

FASB Issues New Standard on Financial Reporting of Leases

Posted by Bramasol RevRec Team on Mon, Mar 7, 2016 @ 05:36 AM

The Financial Accounting Standards Board (FASB) has issued a new Accounting Standards Update (ASU) intended to improve financial reporting about leasing transactions, which affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment.

FASBleaseupdate.jpgAccording to the FASB project site, the new guidance, ASU No. 2016-02, Leases (Topic 842), is intended to accomplish the following objectives:

  • Results in a more faithful representation of the rights and obligations arising from leases by requiring lessees to recognize the lease assets and lease liabilities that arise from leases in the statement of financial position and to disclose qualitative and quantitative information about lease transactions, such as information about variable lease payments and options to renew and terminate leases
  • Results in fewer opportunities for organizations to structure leasing transactions to achieve a particular accounting outcome on the statement of financial position
  • Improves understanding and comparability of lessees’ financial commitments regardless of the manner they choose to finance the assets used in their businesses
  • Aligns lessor accounting and sale and leaseback transactions guidance more closely to comparable guidance in Topic 606, Revenue from Contracts with Customers, and Topic 610, Other Income
  • Provides users of financial statements with additional information about lessors’ leasing activities and lessors’ exposure to credit and asset risk as a result of leasing
  • Clarifies the definition of a lease to address practice issues that were raised about the previous definition of a lease and to align the concept of control, as it is used in the definition of a lease, more closely with the control principle in both Topic 606, and Topic 810, Consolidation

Read the related IASB information in the detailed IFRS 16 Project Status here.

 

Related News: At the upcoming SAP Insider Financials2016 (March 15-18 in Las Vegas, NV), Bramasol and Nakisa will be announcing a strategic partnership to provide companies with the technical enablement and consulting guidance to comply with the new FASB and IASB regulations.  Come hear how these two leaders will be combining forces to bring you a complete leasing solution for your SAP Enterprise Management platform. SAP Insider: Tuesday, Mar. 16 at 1:30 PM, Rm 107. Add to your schedule.

For more info on how the new FASB lease accounting standard may impact your company, click below for a RevRec Consultation.

Request RevRec Consulting Support

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Topics: revenue recognition, leasing, FASB