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

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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

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.

For further information on IFRS15/606 in SAP ByDesign please visit the IFRS 15 & ASC 606: New accounting standards for revenue with customers blog.

Environment

SAP Business ByDesign

See Also

For information on the IFRS 16 implementation please see:

  2537165 - IFRS 16 Leasing in SAP Business ByDesign

Keywords

ByD 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