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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

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.

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Topics: revenue recognition, SAP RAR

New Webinar May 25 on SAP RAR 1.3 and Project Systems

Posted by Bramasol on Wed, May 17, 2017 @ 05:08 AM

On May 25, 2017 at 10 AM PDT / 1 PM EDT we invite you to see the next installment in our highly successful Revenue Recognition Webinar Series.  

"Revenue Recognition - RAR 1.3, PS Integration and Reporting"

Reserve your seat now by registering here. 

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In this webinar we will explore how the new SAP Revenue Accounting and Reporting application addresses project revenue recognition for the new standard. We will discuss the necessary configuration changes for ERP results analysis that are required for integration with SAP Revenue Accounting and Reporting.

Goals of this webinar are to help you understand your choices for project cost recognition, synchronization of user status, and profitability reporting. The presentation and following Q&A will address the challenges of your existing revenue recognition project and explore proposed solutions.

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

 

NOTE: We will be providing a recording of the webinar to all registrants so you should register even if you cannot make the live session.  Click here to watch videos from previous webinars in this series.

Join the Rev Rec Ready LinkedIn Group

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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

Next RevRec Webinar April 27: Disclosure Reporting

Posted by Bramasol on Fri, Apr 14, 2017 @ 06:45 AM

The next session in our highly rated Revenue Recognition Webinar Series will offer an in-depth exploration of disclosure reporting requirements.

"The Big Reveal: RevRec Disclosure Reporting in SAP RAR" is scheduled for 10 AM PDT / 1 PM EDT on Thursday, April 27, 2017.

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 ASC606 and IFRS 15 standards.

In this webinar we will 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. We will hear from an accounting expert and see examples of the types of reports used that can leverage RAR

Click Here to Register for "The Big Reveal: RevRec Disclosure Reporting in SAP RAR".

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Click here to see videos of previous webinars in this series.

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Topics: revenue recognition

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

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

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Topics: revenue recognition, SAP RAR

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.

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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. 

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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

Rev Rec Hot-Tip: It's now too late to start a custom Rev Rec Solution.

Posted by Bramasol RevRec Team on Tue, Oct 18, 2016 @ 08:07 AM

RevRecReady-HotTip-12.jpgWith the new Revenue Recognition standards (ASC 606 and IFRS 15) mandated for implementation by January 1, 2018, companies that haven't already started projects are falling dangerously behind. In fact, it's now too late to start a custom revenue recognition solution from scratch.

In a recent article in Compliance Week, Thack Brown, general manager and global head of line of business finance at SAP, put it this way. "CFOs are facing a perfect storm of accounting regulation, with three major IFRS standards converging in rapid succession, Time to implement these new processes is running out.”

“It takes approximately 18 months for the average Fortune 1000 company to make a change of this magnitude, and we just passed that point in the countdown to the mandatory effective date of the new standards, Corporate finance departments should act now to ensure that they are prepared for the transition and have the right tools to automate and simplify the process.”

That's why so many companies are turning to SAP Revenue Accounting and Reporting (RAR) to streamline their implementation and transition to the new standards.

New features in the SAP Revenue Accounting and Reporting 1.2 release include cost recognition, capitalized costs integration with project systems and results analysis from SAP, improved contract combination and modification capabilities, and integration with service and billing scenarios in the SAP Customer Relationship Management application, plus advanced features for transition to the new IFRS 15/ASC 606 accounting standards.

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Topics: revenue recognition, revrec hot-tips