Shortfacts - October 2016
No monthly SAP news should be disregarded. The Short Facts are dedicated to minor news as well as seemingly more or less important statements from the community. This is the place for SAP-specific press releases that otherwise tend to be overlooked. Companies and people are not indexed. Recommendations to: robert.korec@b4bmedia.net
October 1, 2016
This text has been automatically translated from German to English.
IFRS conformity
SAP has announced enhancements to its SAP Revenue Accounting and Reporting solution to support CFOs and Chief Accounting Officers in the implementation of IFRS 15 and ASC 606.
These new accounting standards apply to all companies and private, public and non-profit organizations. The new standards will completely replace the previous regulations on revenue recognition.
SAP Revenue Accounting and Reporting (SAP RAR) automates and simplifies revenue accounting and helps companies comply with current and upcoming accounting standards.
The solution is the first in a series of SAP IFRS solutions designed to help financial managers comply with IFRS 15, IFRS 16 and IFRS 9.
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