View RevRec as an Opportunity to Transform and Improve Processes 

The extent of impacts will vary by industry and by organization within the industry, but all companies will be impacted.  Some of the changes this will cause include additional or expanded disclosures, the inclusion of additional estimates and judgments in external Financial Reporting, and most likely new or modified business processes and controls.

It is important to note the last impact item from above: new or modified business processes and controls.  The new standard is not just an accounting exercise, but rather extends well past technical accounting into core business processes.

To get lots of detail on how to leverage these opportunities,, click here to read Larry McKinney's blog post "Revenue Recognition Projects: Driving Transformational Actions" on LinkedIn Pulse.

 Read all of the RevRec Ready Hot Tips here.

 Don't miss the upcoming webinar on February 25!

Assess Operational Loads and Data Migration. 

• Model the operational loads for pre and post migration scenarios
• Plan Migration activities in early stages of the Project
• Assess the data load in terms of volume and complexity prior to migration.

 Read all of the RevRec Ready Hot Tips here.

Not quite ready for a full blown project? Try a Proof of Concept. 

Choose one or two key scenarios and work with a partner like Bramasol to implement them.  

You will learn a lot about your partner, your business and what it will take to implement fully. 

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Often the failure to get started and inability to lay out a well-structured path to success results from buying into the dangerous misconceptions that we call the “Seven Myths of Revenue Recognition”.

Learn about these myths and how to avoid being hurt by them.

Don't be fooled by the myths about RevRec.

In many companies, decision-makers are either unnecessarily delaying the start of implementation for the new revenue recognition standard or are confused about where and how to begin. This puts them at risk for increased costs, last-minute problems and potential non-compliance.

Often the failure to get started and inability to lay out a well-structured path to success results from buying into the dangerous misconceptions that we call the “Seven Myths of Revenue Recognition”.

Learn about these myths and how to avoid being hurt by them.

Got BRIM?

BRF+ (Business Rules Framework+) is the method of choice to process rules in SAP.

Find and resolve issues before moving to the next steps 

Model a Range of Different RevRec Scenarios.

Revenue recognition projects only succeed if they follow a solidly structured approach.