With implementation of ASC 606 and IFRS 15 now in full swing, one important area that has moved to the forefront is how to work with your auditors to help with a smooth transition and to assure compliance. 

The deadline for new Revenue Recognition standards, ASC 606 and IFRS 15, is arriving on January 1, 2018. Yes, that is next week!

FASB Issues Accounting Standards Update 2016-08

Revenue from Contracts with Customers
Principal versus Agent Considerations

There is less than two 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!

New Revenue Recognition standards, ASC 606 and IFRS 15, are mandated to take effect in January 2018, which is now less than three months away. 

The new Revenue Recognition standards (ASC 606 and IFRS 15) are mandated for implementation by January 1, 2018.  Yes, that is less than three months from now! 

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

With 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.

As you know there are contract revenue reporting changes coming up January 1, 2018.  These are under ASC 606 and IFRS 15.

Account Determination is a critical step in transitioning to the new ASC606 and IFRS15 revenue recognition rules using SAP Revenue Accounting and Reporting (RAR).