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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.
With less than five months remaining until January 2019, when public companies have to comply with new leasing standards, ASC 842 and IFRS 16, your implementation plans should already be well underway.
We can all agree that any physical building needs to have a strong foundation to assure safety of the occupants and sufficient resilience to maintain structural integrity against external forces, such as wind, flood, earthquakes and other potentially damaging events.
Plan ahead to join Bramasol and other SAP Professionals at SAP Controlling 2018 conference in San Diego, CA on September 17-20, 2018.
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
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.
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.
