IFRS 15: Recognizing Costs and Opportunities
As you may have seen, SAP Revenue Accounting and Reporting (RAR) 1.2 was released on May 24 (congrats to the team!), bringing in key functionalities including cost recognition; we are now working to include preconfig for it in our quick-start. We had a great discussion yesterday with a big company in Mexico City. Like many others, they realize that the effort to reach compliance will not be lost and goes very well with their on-going initiatives to better understand their customers individually and also their costs and margin.
Meanwhile, the deadline (Jan 1st 2018) is approaching. In many industries, more companies are kicking off their RAR implementations, taking part in the early adopter program or user group, or going live.
To support these projects, SAP is offering a new training session next week in Vienna in German, based on RAR 1.1 and explaining what comes with RAR 1.2 as much as time will allow. We are also hiring on this topic: please search our job portal for details.
Good luck with your IFRS 15 implementation!