IFRS 15: Revenue from contracts with customers, with SAP Revenue Accounting and Reporting

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.