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.

You need to consider the needs of people beyond just your in-house users; especially the auditors.

External auditors, who themselves in many cases are uncertain how to interpret the new rules, will have to sign off on the changes.  So you need to make it easy for external auditors to understand your process and decisions.

The first step to success is revenue accounting.

Time is your enemy.