Recent Studies from the Big Four show that data integrity and security are top concerns for CFOs embarking on Finance Transformation projects.
Compliance is critical to treasury, and having a compliance-oriented mindset in the leadership of the treasury organization is especially important. Treasury departments handle a very substantial portion of the balance sheet. They’re managing the liquidity of the company, dealing with business units in many countries around the world.
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As we’re entering a new era of digital transformation, and forward-thinking businesses are working on strategies focused on how to move faster, be more responsive, less manual, and more transparent, companies need a plan that can help them succeed in this journey.
Just as you’ve been preparing to become compliant, audit firms have been preparing as well; determining what and how to verify and validate your disclosures. Bramasol determined that the best way for you to prove the accuracy of the data in your disclosures was to develop not only drill-through Disclosure Reports but also drill-through Validation reports. Your proof is in the details.
People are hard-wired to recognize and interpret faces with amazing speed, accuracy and attention to detail. Even as infants we quickly learn to know our own parents’ faces and to differentiate them from strangers’ faces. Throughout life, the ability to automatically pick up on subtle facial cues and to “read” the meaning behind them are critical factors for streamlining complex social interactions and enabling rapid decisions such as friend vs. foe, and cooperation vs. opposition.
Imagine if you met someone without a face. How would you even begin to interact with them?
Well, that’s how most CFOs and other C-level executives feel when they hear the term “Financial Transformation” without a way to clearly visualize what it means.
Watch the webinar by experts from Bramasol and SAP recorded on Jan 24, 2019 to learn about the exciting new features in SAP Revenue Accounting and Reporting (RAR), release FP07. A major achievement in FP07 is seamless parity with existing features in SD RevRec, which opens a cost-effective path for companies to transition their Revenue Recognition processes into a more sustainable forward path.
They promised that a standalone solution would work as well as any integrated solution and that integration and data management/migration were easy. And, that reporting is a snap. But is it really?
As the leading experts in SAP Leasing Solutions for ASC842 and IFRS 16, we know what works. Integration can be hard. Data validation is required far more than you expected and reporting is anything but a snap, especially if you need data from your ERP as well as your leasing solution.
Bramasol would like to wish all our employees, customers, partners, and blog readers a Happy New Year 2019. We are thankful for your trust, loyalty and the valuable partnership we shared in the past year! It’s a pleasure to work with you all and to create value for our clients all over the world.
In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02 ( “ASC 842”), Leases, which provides new guidelines that change the accounting for leasing arrangements.
The new leasing standard becomes effective in fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, for:
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