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:
Is your finance process complex? Is it all digitally connected? Are you looking for a path forward that doesn't require throwing out everything you have now?
Take a non-disruptive step towards system consolidation with SAP Central Finance, a holistic approach for finance organizations with heterogeneous system landscapes to get the most out of SAP S/4HANA.
Whether you’re a CFO or a financial controller, you know how much time and effort you and your team spend deep in concentration to get your monthly accounting figures to balance. Your accounts payable and accounts receivable work doesn’t get much attention unless things go wrong, but all the time you need to stay on top of your tasks to keep things running smoothly.
As the year moves into the holiday season and 2018 comes to an end, all of us at Bramasol want to wish a Happy Thanksgiving to our valued customers, partners and colleagues throughout the world.
The January 2019 deadline for compliance with new Lease Accounting standards, ASC 842 and IFRS 16, is now looming less than two months away. Are you ready? If not, Bramasol can help
This webinar covers the latest features of SAP RAR available in FP06 and why they matter. Also some insights and learnings on why moving to a more updated feature pack makes sense, learn about FP04, FP05 and FP06 and how it will benefit you to move sooner versus later.
Accounting has traditionally been a backwards looking profession. Let me be clear that I did not just call accountants backwards people, but in general their mandate has been to document, audit and verify what has already happened.However, things are changing rapidly in the world of accounting. As I covered in a recent blog post on The Changing Role of the CFO, there is a major shift toward broader and more forward-looking responsibilities within the Office of the CFO and the accounting profession in general.
Some of the forces helping make these changes a reality are
enterprise-wide integration of advanced analytics, unifying financial information in a single-source-of-truth, movement toward continuous-close processes and the rise of Machine Learning.
Today’s CFO is bombarded with buzzwords and talk about the latest and greatest trends in corporate finance. The typical finance professional is usually occupied with more practical considerations. Buzzwords aren’t high on the agenda when some new regulatory control is fighting for your attention or you’re busy keeping an eye on the bottom line.
Still, those buzzwords and trends persist. It’s little wonder that finance pros are confused by it all.
Here are a few such terms you might have heard of:
- Predictive accounting – using accounting to predict revenue.
- Machine learning in finance and accounting.
- Robotic Process Automation (RPA).
It’s natural to ask whether any of this matters. Is it worth devoting mental bandwidth to these new trends?
This post is a summary of why I think these trends may be relevant to you, and how getting onboard now can help you add long-term value to your organization.
Are you struggling with implementing big-picture compliance solutions on a limited budget?
Did time and cost constraints force you to adopt RevRec compliance with short-cuts, spreadsheets or brute force manual calculations - leaving you with a dead-end "solution"?
Do you face similar no-win trade-offs with regard to new Lease Accounting changes coming in January 2019?
You're not alone. Lots of small to midsize companies are grappling with difficult compliance issues.
Here's a great opportunity to join a select group of Financial Executives and Leaders for an information-filled day on November 29, 2018 at the SAP Offices in Burlington, MA, where Bramasol, SAP and special guest from Monotype will discuss key challenges and solutions for Finance, Analytics and Compliance.