Future CFO

APRIL 9, 2025

Compliance with standards like ASC 606 and IFRS 15 is still crucial, but the focus has shifted to optimising operations for growth. RightRev says financial leaders regularly struggle with non-standard contracts, audit risks, process inefficiencies, and a lack of automation, all of which create friction in properly recognising revenue.

IFRS 52

IFRS Auditing Forecasting Compliance 52

Bramasol

AUGUST 31, 2023

Over the past eight years, many episodes in this blog series have focused on revenue recognition and how SAP solutions such as Revenue Accounting and Reporting (RAR) have provided a robust foundation for compliance with ASC 606 and IFRS 15.

SAP 94

SAP Accounting Reconciliations General Ledger 94

Bramasol

JULY 26, 2024

Within the Five-Step model, Step 4 of ASC 606 and IFRS 15 requires an allocation of the total consideration in a contract, which your company is entitled to collect for each distinct performance obligation. Manual Processes: Reliance on manual data entry and spreadsheet-based reconciliations can be time-consuming and error-prone.

SAP 90

SAP IFRS GAAP Compliance 90

CFO Talks

SEPTEMBER 5, 2024

Implementing robust security measures, such as encryption, access controls, and regular audits, is essential to protect sensitive financial information. This not only improves efficiency but also empowers your team to focus on more strategic tasks. Automating Processes Automation is a powerful tool in modern FIS design.

IFRS 98

IFRS GAAP Compliance Reconciliations 98

The Charity CFO

JANUARY 19, 2023

The goal is to create an accurate and comprehensive record of all transactions that can be used for both internal and external reporting, including audits and tax returns. Internal controls are a set of written policies, processes, procedures, and systems of authorization, reconciliation, documentation, security, and separation of duties.

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 52

Planful

JANUARY 19, 2016

Intercompany reconciliations were a nightmare, with many phone calls to the foreign subs. Consolidating the financial results following US GAAP or IFRS guidelines, including these steps: Performing currency conversions. Managing complex intercompany reconciliations. I think we used Lotus 123.) Multiple reporting hierarchies.

IFRS 40

IFRS GAAP Reconciliations Auditing 40

CFO Talks

SEPTEMBER 17, 2024

A tech startup might start with basic financial software, but as it scales and perhaps looks for external investment, the CFO will need systems that support more detailed and sophisticated financial reporting, such as investor reporting and compliance with IFRS standards. This saves time and ensures higher accuracy in reporting.

Financial Reporting 52

Financial Reporting Auditing CFO Compliance 52