With New GL, it makes an accounting postings to all the ledgers at the same time Ledger group is blank on the accounting document header , negating automation and increasing the reconciliation efforts for accounting teams. The new accounting standards is a mandatory rule for US and Europe. Early adopters of IFRS can start earlier. The customers most impacted by the New Standard are as below:. Example of Revenue Recognition in case of Multiple Arrangements.
In this case, if Mr A purchases the service contract and phone from the telecom company, the charge for the mobile and service contract has to be allocated over a period of 24 Months to recognize revenue as per IFRS The contract is the operational object for the determination and allocation of Transaction Price. Most of the times it would correspond to a line item of an operational contract, but it may also be a combination of several items Eg, from a Sales BOM, implicit obligation Eg, Upgrade for a licensed Software.
Step 3: The transaction price is determined from Pricing Conditions of operational document such as a sales order. Step 5: Revenue is recognized on the completion of POB. The completion can be defined as an event or over time. The over time fulfillment can be calculated based on time based or based on Percentage of Completion.
The Current version of RAR available is 1. Thanks a lot Jignesh Kansara. Thanks a lot Aditya Kotak. Thanks a lot Narayana Murty Panyala. Useful information. Thanks a lot for sharing. Looking forward for your next blog.
RAR should ideally implemented with logistics integration as well to recognize out of box functionality. With CFIN, it may not work completlty. Thanks Sanil for information. Do you have any further additional information around the key risk areas from accounting stand point, IMG changes, tcode affected from RAR? Please help me with this doubt. How to do that. Thanks for writing this blog and sharing knowledgeable info. Do you have second part as well? Question regarding the Cost Recognition.
Your article is enlightening. I would like to ask if there are more articles on RAR please. You were mentioning at the end of your article a follow up describing the accounting flow. Thanks Sanil, great article!! Got through your blog , but it deals mostly with functional approach, my questions are on how to get started on technical implementation part, which unfortunately is not found.
Skip to Content. Sanil Bhandari. September 13, 3 minute read. Most of the times it would correspond to a line item of an operational contract, but it may also be a combination of several items Eg, from a Sales BOM, implicit obligation Eg, Upgrade for a licensed Software Step 3: The transaction price is determined from Pricing Conditions of operational document such as a sales order.
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Former Member. Hi sanil, This is very informative. Thanks for Sharing. Regards, Jignesh. Like 1 Share. Right click and copy the link to share this comment. Sanil Bhandari Blog Post Author. Like 0 Share.
Hi Sanil, Really good insides provided. Keep enlightening! Best regards, Aditya. Narayana Murty Panyala. Hi Sanil, Useful information. Thanks a lot. Prasad Atmakuri. A file compression and archive utility.
Along with WinZip and 7-Zip is one of the most common compression programs for Windows. Its native format is as the name implies RAR and uses rar file extension. WinRAR is a powerful archive manager. It consistently makes smaller archives than the competition, saving disk space and transmission costs. WinRAR offers a graphic interactive interface utilizing mouse and menus as well as the command line interface.
RAR for Mac. RAR for Linux. Useful information about multi-volume archives. If you want to extract this file, you must have all parts of the RAR multi-volume archive. Open the first part of RAR e.
It is not possible to convert only one part of RAR multi-volume archive. Only complete RAR archive can be converted in to another archive or compression format. The easiest way how to convert complete RAR multi-volume archive is to decompress the RAR archive with the use of WinRAR and repack the content with another compression or archive application of your choice.
Hint: Click on the tab below to simply browse between the application actions, to quickly get a list of recommended software, which is able to perform the specified software action, such as opening, editing or converting part1. Programs supporting the exension part1. Click on the link to get more information about listed programs for open part1. Main software associated with part1.
Click on the link to get more information about listed programs for create part1. Click on the link to get more information about listed programs for extract part1.
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