Bramasol

JULY 31, 2023

For leasing, this means International Accounting Standards Board’s (IASB’s) IFRS 16 and US GAAP Financial Accounting Standards Board’s (FASB’s) ASC 842. For revenue recognition, they also must comply with ASC 606 and IFRS 15.

Accounting 75

Accounting SAP GAAP IFRS 75

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 90

SAP Accounting Reconciliations General Ledger 90

Bramasol

JUNE 10, 2022

For example, a company with branches doing business in the United States and the European Union will need to comply with both GAAP and IFRS accounting principles. The account-based approach uses account logic identifiers to assign accounting principles, such as using unique prefixes to determine which accounts use IFRS vs GAAP principles.

Accounting Principles 85

Accounting Principles IFRS SAP Accounting 85

Bramasol

DECEMBER 14, 2023

This can be seen clearly in the increased adoption of SAP Cloud-based S/4HANA over recent years. As of the third quarter of 2023, SAP SE reported cloud revenue was up by 23% at constant currencies, driven mainly by the growth of SAP's combined SaaS and PaaS portfolio. SAP operates 57 data centers at 32 locations in 15 countries.

Technology 88

Technology SAP IFRS Compliance 88