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|
From the SAP Business ByDesign release 1802 the IFRS 15/ ASC606 performance obligations and contracts functionality is available for all customers/partners who are part of the Extended Controlled Availability Program.
It is planned to make the new functionality available for all customers/partners from SAP Business ByDesign Release 1805.
For further information on IFRS15/606 in SAP ByDesign please visit the IFRS 15 & ASC 606: New accounting standards for revenue with customers blog.
SAP Business ByDesign
For information on the IFRS 16 implementation please see:
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