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SAP Insider Financials2016: See Nakisa on Leasing & Bramasol on RevRec

Wed, Mar 9, 2016 @ 01:42 PM / by Bramasol RevRec Team posted in Revenue Recognition, Leasing

Reminder that SAP Insider Financials2016 is March 15-18, 2016!

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RevRec Ready Hot-Tip #16 - Consider How RevRec Impacts Your Sales Team

Tue, Mar 8, 2016 @ 02:48 PM / by Bramasol RevRec Team posted in Revenue Recognition, revrec hot-tips

Compensation or Commissions

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FASB Issues New Standard on Financial Reporting of Leases

Mon, Mar 7, 2016 @ 05:36 AM / by Bramasol RevRec Team posted in Revenue Recognition, Leasing, FASB

The Financial Accounting Standards Board (FASB) has issued a new Accounting Standards Update (ASU) intended to improve financial reporting about leasing transactions, which affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment.

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RevRec Ready Hot-Tip #15 - Choosing a Full or Modified Retrospective

Tue, Mar 1, 2016 @ 09:56 AM / by Bramasol RevRec Team posted in Revenue Recognition, revrec hot-tips

One of the key first steps for implementing the new Revenue Recognition standard is to determine which adoption method, full retrospective or modified retrospective, will be used.  This key decision will depend on several factors including resource availability, reporting requirements, and timing of the project. When you convert to the new method of recognizing revenue, the previous years of recognized revenue need to be migrated over so that you have the complete picture for ongoing contracts and revenue streams.

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See Bramasol Presentation on RAR at SAP Financials 2016

Wed, Feb 24, 2016 @ 04:40 PM / by Bramasol RevRec Team posted in SAP Financials, SAP RAR

Revenue recognition compliance deadlines are coming fast – gain insights on how to comply with and benefit from the new standards using SAP Revenue Accounting and Reporting

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RevRec Ready Hot-Tip #14 - Understanding Data is Critical

Wed, Feb 24, 2016 @ 06:27 AM / by Bramasol RevRec Team posted in Revenue Recognition, revrec hot-tips

RevRecReady-HotTip.jpg

When evaluating how you will capture the required data, there are many considerations to include.  Based on what we have seen with our customers, the gathering of information falls into three key categories:

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RevRec Ready Hot-Tip #13 - Benefits of Proof-of-Concept

Mon, Feb 22, 2016 @ 07:04 AM / by Bramasol RevRec Team posted in Revenue Recognition, revrec hot-tips

As companies prepare for the new standard, a common trend can be seen: most companies undertake a Proof of Concept.  There are many reasons for this, but the top 5 reasons can be grouped as follows:

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Join the New "Rev Rec Ready" Group on LinkedIn

Thu, Feb 18, 2016 @ 08:15 AM / by Bramasol RevRec Team posted in Revenue Recognition

Are you Rev Rec Ready?

In 2018, all public companies will need to comply with the new FASB/IASB accounting standards for revenue recognition. Whether you are in telecom, pharma, media and entertainment, manufacturing or software you are affected. And it’s not just IT, but every department from finance to sales, operations and support to R&D will be affected by the new standards. And the changes will impact how you account for selling price, commissions, warranties, loyalty programs and licensing and royalties.

This new LinkedIn group is designed to help companies share ideas, best practices and tools to help us all get Rev Rec Ready. Join us and please contribute to the discussion.

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SAP RAR 1.1 is Now Released for General Availability

Fri, Feb 12, 2016 @ 08:33 AM / by Bramasol RevRec Team posted in Revenue Recognition, SAP RAR

SAP Revenue Accounting and Reporting 1.1 has now been released for General Availability (GA) effective Feb 5, 2016. SAP RAR was developed closely with customers and co-innovators like Bramasol, as well as SAP’s internal accounting department, by analyzing the new revenue recognition standard and assessing how best to design an integrated solution to cover the new requirements.

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