Listen to the latest podcast in Bramasol's Insights to Action series.
In this episode, John Scott, Senior Technical Accounting expert, reviews the compliance requirements for RevRec (ASC 606 & IFRS 15) and Lease Accounting (ASC 842 & IFRS 16) with an eye toward "Day Two" issues. This provides an excellent overview of what companies should be doing now to optimize compliance within their overall business operations.
Key topics discussed in the podcast include:
- Background on the RevRec and Leasing changes over the past few years
- The various paths that companies have taken to comply (Such as spreadsheets, standalone apps, integrated apps, etc.)
- What we have seen as shortcomings and things yet to be done
- Where does automation come into play?
- For companies using SAP, what does the impending change to S/4HANA portend for RevRec and Leasing integration?
- Recommendations regarding what to focus on as “next steps”?
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