Sap revenue accounting and reporting and ifrs 15
SAP Revenue Accounting and Reporting and Ifrs 15 by Dayakar DomalaThe IFRS 15 standard is here--is your company ready? Learn how SAP Revenue Accounting and Reporting (RAR) can align your financial reporting standards with this guide! Walk through the new five-step framework for revenue recognition, dive into best practices for implementing SAP RAR, and then configure the solution. From there, see how to migrate old data, process contracts, and produce reports. Dont delay: Make sure your business is IFRS-compliant!
a. Foundation and Implementation Review the new IFRS 15 standards and understand how SAP RAR helps you integrate them into your business processes. Then learn best practices for an SAP RAR implementation project, from planning to go-live. Finally, walk through the configuration steps for Sales and Distribution and legacy-based revenue recognition.
b. Usage and Migration Learn how to process revenue accounting contracts within the Revenue Accounting Engine (RAE), migrate old revenue data into SAP RAR, and generate key IFRS 15 reports for your industry.
c. Business Cases See how the new regulations have impacted two sample organizations in the telecom and high-tech industries. Apply the lessons learned to your own SAP RAR implementation and revenue practices.
Revenue recognition Five-step framework Vendor analysis matrix Project management and implementation Configuration and migration Revenue contracts Revenue data Dual reporting Business cases Revenue Accounting Engine (RAE)
IFRS 15: New revenue realization in 2018
Sofort lieferbar. Time is running out—but is your company ready? With this guide, walk through the five steps of revenue recognition, dive into best practices for implementing SAP RAR, and configure the solution. From there, see how to migrate old data, process contracts, and produce reports. Finally, walk through the configuration steps for Sales and Distribution and legacy-based revenue recognition.
Both these leading accounting standard bodies FASB and IASB jointly announced a new accounting standard regulation on May 28, , to have convergence in accounting practices across the regions. The new accounting standard affects all organizations that are using contracts and will change the practice of their revenue recognition process. For example, as per the new accounting standard IFRS 15, an entity can recognize the revenue when or as the entity satisfies a performance obligation by transferring promised goods or services to a customer and the customer obtains the control of the promised goods or services. In new accounting standard terminology, revenue will be recognized when the performance obligation POB is satisfied. This can be near the time of customer invoicing or can depend on other events—for example, a goods issue or proof of delivery.
SAP Revenue Accounting and Reporting
Your source for SAP financials tutorials, tips, and training content. The end result is an application that automates the revenue recognition and accounting process. It decouples operational transactions from accounting so that various operational transactions can be accounted together no matter where the operational data is processed. Before the introduction of SAP Revenue Accounting and Reporting, SAP had a solution in sales and distribution SD called revenue recognition that organizations used to focus on time-based, event-based, or percentage-based revenue recognition. Figure 1 shows how data flows in the SAP system with respect to revenue recognition. It shows that the source module sends data in the adapter reuse layer, which converts it into a revenue accounting item RAI.
Creates a user-friendly solution to automate and simplify revenue recognition and accounting processes. Opens up flexibility by decoupling the revenue realization rules for your ordering and billing systems. Build and develop custom solutions to fill the gap between SAP solutions and client requirements for:. I agree. The data is not transferred to third parties.