Please join with Bramasol at SAP Financial Excellence Forum October 10-11, 2017 in New York City to learn how top organizations are transforming their financial management processes.
In addition to being available to discuss our industry-leading initiatives in Revenue Recognition, Lease Accounting/Administration and Financial Transformation, Bramasol will be teaming with SAP for the following special presentation on Wednesday, Oct 11, 2017.
Time & Place: October 11, 2017 at 1:30 PM at The Harvard Club, NYC.
Title: " The SEC is watching. Tips and Tricks for how you can be better prepared for Revenue Recognition (ASC 606/IFRS 15) and Leasing (ASC 842/IFRS16) compliance."
Abstract:
IFRS 15 / ASC 606 (revenue recognition) and IFRS 16 / ASC 842 (leases) are quickly approaching accounting standards requiring offices of the CFOs to implement new accounting software. SAP and Bramasol have been following these accounting standards diligently and has several solutions that help offices of the CFO to enable compliance with IFRS 15 / ASC 606 & 16 / ASC 842.
In 2014, the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) issued the new International Financial Reporting Standard (IFRS 15 / ASU 2014-09, ASC 606) which specifies the accounting rules for revenue recognition. In order to support our customers to enable compliance with this new standard, SAP has provided a new solution called SAP Revenue Accounting and Reporting (RAR) generally available (GA) since March 31, 2015. With this solution, SAP addresses requirements derived from this new accounting standard as well as generic requirements related to the current revenue recognition standards across various accounting principles.
In 2016, the International Accounting Standards Board (IASB) published IFRS 16 Leases which specifies the accounting rules for leases impacting mainly lessees. SAP solutions provide customers with important information about assets and liabilities arising from operating leases allowing customers to gain full visibility into their lease portfolio. Thus, SAP and Bramasol help our customers get a complete and understandable picture of an entity’s leasing activities.
In a recent conference and speeches, the SEC has indicated it will apply increased scrutiny to disclosures and internal controls (Internal Controls for Financial Reporting) associated with ASC 606 for Revenue Recognition and ASC 842 for Leasing. Join our experts from SAP and Bramasol who will focus on disclosure reporting, building an automated solution, demonstrating critical controls auditors will focus on, and completing the migrations to the new regulation (ASC 606, IFRS 15).
Learning Objectives for this session:
- See how SAP supports customers by assisting with compliance initiatives relative to IFRS 15 / ASC 606 & IFRS 16 / ASC 842
- Insights and Best Practices based on hands-on experience with real world projects
- Understand Bramasol's Methodologies, Tools and Practical Experience that can get you started now
For anyone involved in Revenue Accounting, Lease Accounting, or Compliance and Reporting this is a must attend session to navigate the complexities and unique challenges of executing a successful project.