Ifrs 15

Companies are required to implement a newaccounting standard in January 2018 - the IFRS 15standard for revenue from contracts with customers. Inthe process, they have the unique chance to do morethan just fulfill a regulation: The implementation is anopportunity to critically assess processes for revenueaccounting and improve inefficient "business-as-usual"processes.When the standard is implemented together with process improvementsand powerful software, your company can gain a competitive advantage andsignificantly lower the cost of becoming compliant. Those companies thatdrag their feet and have to comply on a manual basis each month after January2018 will be at a disadvantage, due to the high cost of manually reconcilingaccounts and creating reports.In this book, you will learn the regulatory background of IFRS 15 and how tobest meet the challenges associated with implementation, based on examplesfrom the telecommunications and software industries. "IFRS 15: Revenuefrom contracts with customers, with SAP Revenue Accounting and Reporting"prepares organizations for the impact of the standard on processes throughoutthe 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.