Learn how SAP Event Based Revenue Recognition (EBRR) in the SAP Public Cloud can enhance revenue management and ensure compliance for subscription-based offerings, thus enabling businesses to streamline and optimize their processes.
FASB has issued an update regarding ASC 842 through its Post-Implementation Review (PIR) process that is intended to respond to the concerns expressed by private company stakeholders about applying Topic 842 to related party arrangements between entities under common control.
Specific issues addressed in the PIR are:
- Which terms and conditions should be considered when determining whether a lease exists and, if so, the classification and accounting for the lease.
- The accounting for leasehold improvements associated with leases between entities under common control.
From the inception of new revenue recognition standards (ASC 606 and IRFS 15), Bramasol has been at the forefront of helping companies Comply, Optimize and Transform™ their revenue accounting, analysis, and reporting processes, along with holistic cross-integration with other enterprise-wide financial processes.
As the leading provider of SAP solutions such as Revenue Accounting and Reporting (RAR) and co-innovator in the SAP Automated Revenue Management arena, Bramasol has completed more successful RAR implementations than anyone. We've also developed intellectual property enhancements around disclosure reporting and most recently we've led the way by integrating RevRec within the overall Digital Solutions Economy.
Along the way, we have hosted over 100 webinars on RevRec and other topics of importance to the Office of the CFO.
Today's Hot-Tip news is that Bramasol is opening up our treasure trove of archived webinar videos for on-demand public viewing! And we've curated them into targeted playlists by topic!
If You're Using BRIM without RAR, You're Not Seeing the Full Picture!
As companies move into the new year, The Digital Solutions Economy™ (DSE) is continuing to disrupt conventional customer engagement business models by shifting away from one-off sales transactions and toward subscriptions, bundling and multi-faceted relationships. DSE is already transforming many B2C markets and is rapidly making inroads into B2B scenarios as well.
Within the SAP ecosystem, many companies like yours are already turning to Billing and Revenue Innovation Management (BRIM) to handle order-to-cash processes. However, as SAP's Roshni Frisch points out in this podcast, companies hit a point in these projects where they ask "oh, how am I going to do my revenue recognition for this?"
The best approach to optimize BRIM integration for flexibility, compliance and disclosure reporting is to use SAP Revenue Accounting and Reporting (RAR)!
New Video on the Digital Solutions Economy
You have probably already heard terms like “solutions economy” and “subscription economy” but these don’t really capture either the breadth of industry applications that are being disrupted or the full scope of related process changes that are needed to create dynamically scalable and manageable systems for market success.
The Digital Solutions Economy™ (DSE) encompasses much more than just subscriptions and therefore DSE must be approached with a holistic mindset that brings together all of the key process areas to assure success.
The Digital Solutions Economy™ (DSE) is radically changing how companies engage with their customers across many different industries. This Hot-Tip takes a quick look at how DSE impacts cash flow processes and explores both the key trends and the actions you can take to integrate and optimize your end-to-end cash management.
Achieving an efficient financial close process is critical for providing timely information to key stakeholders, including corporate executive management, investors, SEC regulators, etc. However, in recent years, the dynamically changing compliance environment has been making the closing and disclosure reporting processes more complex and time consuming.
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, including interim periods within those fiscal years, for:
Is your finance process complex? Is it all digitally connected? Are you looking for a path forward that doesn't require throwing out everything you have now?
Take a non-disruptive step towards system consolidation with SAP Central Finance, a holistic approach for finance organizations with heterogeneous system landscapes to get the most out of SAP S/4HANA.
Whether you’re a CFO or a financial controller, you know how much time and effort you and your team spend deep in concentration to get your monthly accounting figures to balance. Your accounts payable and accounts receivable work doesn’t get much attention unless things go wrong, but all the time you need to stay on top of your tasks to keep things running smoothly.