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Accounting standards are changing! Get up to speed and dive into the fundamentals of SAP Revenue Accounting in the latest Espresso Tutorials release Practical Guide to SAP FI-RA by M. Larry McKinney, Reinhard Müller, Frank Rothhaas.
Review the basic legal principles that determine the reporting of revenues and common technical challenges, as well as the legal basis for ASC 606. Walk step-by-step through the revenue recognition process according to ASC 606. Get best practices on how to prepare your system for an implementation and get a list of activities required to implement the Revenue Accounting and Reporting (FI-RA) business add-on in SAP ERP. Identify the three steps required to transition from the old to the new revenue recognition standard. Review the impact of the Business Rule Framework Plus (BRFplus). Get tips and best practices for data consistency and reporting. By using detailed examples, tips, and screenshots, this book covers critical accounting standard topics including:
– ASC 606 statutory requirements
– Integration between SAP SD, PS, FI-RA, and FI-GL
– Troubleshooting data migration challenges
– BRFplus in revenue accounting
Authors M. Larry McKinney, Reinhard Müller, and Frank Rothhaas offer extensive experience in SAP Financials and Controlling projects, with expertise in revenue accounting principles. M. Larry McKinney is an SAP alumnus with more than 20 years of experience implementing and maintaining SAP at Fortune 1000 companies. Reinhard Müller is a partner at Conessent Consulting GmbH, which provides international SAP consulting and software development, and has led international SAP FI/CO template developments and rollouts over the last 20 years. Frank Rothhaas is the managing director of Conessent Consulting GmbH and focuses on the implementation of international accounting principles and the integration of these principles in management and group reporting.