RevRec - Best Practices in Feature Pack and S/4 Migration

October 22, 2019 - 10 AM PDT / 1 PM EDT

In your Comply, Optimize, Transform™ journey, one of the most important steps is that initial move from basic compliance requirements to the automation of related processes for better integration and productivity.

This webinar covers the latest features of SAP RAR available in FP06 and why they matter. Also some insights and learnings on why moving to a more updated feature pack makes sense, learn about FP04, FP05 and FP06 and how it will benefit you to move sooner versus later.

A recent article in Compliance Week paints a different picture from people who think that adoption of Revenue Recognition per ASC 606 is behind us.  Even though the new standard took effect on January 1, 2018, the issue of compliance as seen by auditors and the SEC is now just ramping up.

Public companies on calendar year accounting have now completed two quarterly filings under the new standards but the first year-end filing under the new standard is still some months away.

Bramasol, the leader in compliance and finance innovation solutions, is pleased to introduce a new, purpose-built application, Analytics for Revenue Recognition Disclosure Reporting.  This application is being introduced at SAP TechEd in Las Vegas, NV on October 2, 2018 and is available for purchase through the SAP App Center.

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. 

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.

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.

The deadline for new Revenue Recognition standards, ASC 606 and IFRS 15, is arriving on January 1, 2018. Yes, that is next week!

There is less than two months before the mandated adoption of new Revenue Recognition standards ASC 606 and IFRS 15. Since companies need to comply with legal disclosure reporting requirements, including a retrospective dual-reporting period between current ASC 605 and new ASC 606, it is critical that you have a clear disclosure reporting plan in place, NOW!