Today’s corporate finance professionals face an accelerating set of new challenges, changing compliance requirements and global competitive pressures that threaten to overwhelm the inherent limitations of their existing legacy finance and ERP systems.

Now that the adoption deadline for ASC 606 ( IFRS 15 for IFRS filers), revenue recognition for public entities has passed, the readers of companies’ financial statements should expect a much more robust financial reporting over revenue recognition.  

The customer is a Leading Global Organization and Multinational Retailing Corporation with annual revenues in excess of US$480 billion and which is one of the largest private employer in the world with over 2 million employees. As an international company, our customer is impacted by the new lease regulations ASC842 and IFRS16 that will take effect from January 2019.

A recent article in Accountancy Daily looks at the important challenges that companies are facing as they prepare for implementation of new lease accounting standard, IFRS 16.  

Plan to join Bramasol at SAP Aerospace and Defense Innovation Days, April 9-11, 2018 in Boston, MA where you can learn the latest about our technology innovations and solutions for challenges facing the Office of the CFO.

In a recent interview with CFO.com, Christoph Hütten, chief accounting officer for SAP, discussed the readiness (or lack of readiness) of companies for meeting the new RevRec standards, ASC 606 and IFRS 15.  

Now that the January 2018 deadline has passed, and public companies must now adopt the new revenue recognition standard, ASC 606, disclosures become the central focus of the implementation process.

This Global Fortune 500 company  is a leader in the manufacture, installation and service of computer, networking and computing systems providing solutions for companies of all sizes around the world. Their highly complex landscape and current global migration project required both a focus on achieving near term compliance while positioning a smooth migration to SAP S/4 HANA. They needed someone with deep, proven expertise and experience in implementing SAP RAR.

Bramasol, the leader in Revenue Recognition solutions, has announced a new, purpose-built product that reduces complexity and gives companies across a variety of industries a ready-to-deploy turnkey solution for disclosure reporting and compliance.