A recent article in Compliance Week paints a different picture from people who think that adoption of Revenue Recognition per ASC 606 is behind us.  Even though the new standard took effect on January 1, 2018, the issue of compliance as seen by auditors and the SEC is now just ramping up.

Public companies on calendar year accounting have now completed two quarterly filings under the new standards but the first year-end filing under the new standard is still some months away.

Bramasol, the leader in compliance and finance innovation solutions, is pleased to introduce a new, purpose-built application, Analytics for Revenue Recognition Disclosure Reporting.  This application is being introduced at SAP TechEd in Las Vegas, NV on October 2, 2018 and is available for purchase through the SAP App Center.

With the deadline for implementing ASC 606 and IFRS 15 now behind us for most public companies, a lot of CFOs and accounting staff have breathed a sigh of relief. 

The video is now available of the most recent session in Bramasol's monthly series on Revenue Recognition. 

A pioneer in electronic design and automation and with a presence in more than seven countries, our featured customer offers bundles of hardware, software, support & training to industrial customers. The Company was running ECC 6.0 with SD Revenue Recognition and was in the process of implementing SAP RAR 1.3 to support a mandated transition to IFRS 15. The project delivers a "hard" transition from ASC605 to IFRS 15, running RAR 1.3 SP02 for ten company codes around the world. The deployment includes a migration of 26000 in-flight contracts.

During the lead-up to implementation of the new Revenue Recognition standards, ASC 606 and IFRS 15, companies chose a variety of paths to get ready. 

Sometimes as you move forward, it can also be helpful to take a look back and see how far we've come. 

The customer is a leader in the field of networking solutions, and designs, manufactures a variety of solutions from PIC and ASIC chips to complete hardware and software systems. These systems empower network operators to scale network bandwidth, accelerate service innovation and automate optical network operations. Service providers, cloud operators, governments and enterprises across the globe rely on

The customer is a global publishing company, which specializes in academic publishing. The company publishes electronic and print books, journals, and encyclopedias, as well as training and educational materials. The organization markets its products to a number of segments including professionals, students, instructors, researchers and more.

The company faced challenging issues around Digital Media, Multi-currency Intellectual Property and other areas in digital publishing.  They needed a partner expert in SAP RAR