RAR Revenue Recognition

SAP® Solutions for the Future

RAR Revenue Recognition

KM Consulting understands what it takes to meet the new RAR requirements and will make certain you are compliant and processing transactions without disrupting your current business operations.  IFRS 15 and ASC Topic 606 are new revenue standards.  The depth and  breadth of their impact are much greater than just a single financial statement line item. The most difficult part in determining the impact of the new Revenue rules is to understand when a performance obligation exists and how it is handled for accounting purposes.

 

IFRS 15 and FASB Topic 606 – Revenue from Contracts with Customers

Are you asking the right questions?  Below are just a few examples of the questions you should be considering:

Do I have contracts that are RAR relevant?

What determines a performance obligation (POB)?

If I have POBs, is there a timeframe associated?

What happens if I have a contractual “make whole” clause?

How do I handle prospective and retrospective transactions?

Do I need a contract repository for RAR-relevant transactions?

How do I interface non-SAP systems with the SAP RAR solution?

 

Preparation Phase and Understanding Your Contract Structure

We are prepared to help you determine your RAR impact and move to a proof of concept and full implementation of SAP®’s Revenue Recognition solution so you can meet the 01/01/2018 requirements.

 

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