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Companies are required to implement a new
accounting standard in January 2018 - the IFRS 15
standard for revenue from contracts with customers. In
the process, they have the unique chance to do more
than just fulfill a regulation: The implementation is an
opportunity to critically assess processes for revenue
accounting and improve inefficient "business-as-usual"
processes.
When the standard is implemented together with process improvements
and powerful software, your company can gain a competitive advantage and
significantly lower the cost of becoming compliant. Those companies that
drag their feet and have to comply on a manual basis each month after January
2018 will be at a disadvantage, due to the high cost of manually reconciling
accounts and creating reports.
In this book, you will learn the regulatory background of IFRS 15 and how to
best meet the challenges associated with implementation, based on examples
from the telecommunications and software industries. "IFRS 15: Revenue
from contracts with customers, with SAP Revenue Accounting and Reporting"
prepares organizations for the impact of the standard on processes throughout
the company that are related to revenue recognition.
The authors explore:
- How the most important IFRS 15 framework, the 5-step model, works
- How different areas of your company will be affected by IFRS 15
- How IFRS 15 implementation works with the solution from one vendor,
SAP's Revenue Accounting and Reporting (SAP RAR) module.