SAP Knowledge Base Article - Public

2535927 - IFRS 15 /ASC606 Revenue From Contracts With Customers in SAP Business ByDesign

Symptom

The IFRS 15/ASC606 accounting standard provides guidance on accounting for revenue from contracts with customers.

The standard is effective for customers reporting according to

IFRS IFRS 15 is relevant for fiscal years starting on or after January 1st, 2018
US-GAAP – Public Entities ASC606 is relevant for fiscal years from December 15th, 2017
US GAAP – Non Public Entities ASC606 is relevant for fiscal years from December 15th, 2018

Currently, the IFRS 15 functionality is only available to customers as part of an Extended Controlled Availability Program and not generally available in your SAP ByDesign system.  The program was an invite only program with a request email sent to all partners and customers in February 2018 and access to the program is now closed.

General availability is planned with SAP Business ByDesign 1811.

Please review the SAP Business ByDesign Roadmap and visit the IFRS 15 & ASC 606: New accounting standards for revenue with customers blog for guidance on this functionality.

Environment

SAP Business ByDesign

See Also

For information on the IFRS 16 implementation please see:

  2537165 - IFRS 16 Leasing in SAP Business ByDesign

Keywords

ByDesign, ASC 606 IFRS15, Revenue Recognition, , KBA , do you want to enable revenue accounting , revenue accounting contracts , ifrs15 , asc 606 byd , AP-CI , Customer Invoice Processing , How To

Product

SAP Business ByDesign all versions