IFRS 15 - Revenue Recognition

[sanne_larsen]

Hi, 

We'r in a public cloud implementation and the customer is reporting related to IFRS 15, I found in Cloud ALM that there is a requirment to raise a ticket if this is needed. In Cloud ALM and when reading about this there is one reference to a note 2524569 in several places however this not is not available and haven't been for a while. Where can I find this information instead? Any tips? 

Kind Regards, Sanne

[HenrikeGrtecke]

Hello, thank you for your question. It has been forwarded to the experts. Kind regards, Henrike

[Janina_Igers81]

Hi Sanne,

Thank you for your question. Let me provide you with the link to the SAP Note regarding the activation of IFRS15 again: 2524569 - SAP S/4HANA Cloud: Information of IFRS15/ASC 606 Revenue Recognition Functionality - SAP f...

Alternatively, you can also find information about IFRS15 and revenue recognition on the SAP Help Portal: General Overview of Revenue Recognition for Multiple-Element Arrangements | SAP Help Portal

However, if you want to achieve IFRS15 compliance with Event-Based Revenue Recognition, we recommend that you take a closer look at Universal Revenue Recognition | SAP Help Portal, as it allows for adherence to standards provided by IFRS15.

I hope that helps.

 Best regards,

Janina

[sanne_larsen]

Hi Janina,

Thanks for your reply and the links. We've been doing some reading and also some discussions with the customer, at the moment there is one question remaining. The functionality of Bundling/Multi-element-arrangement, is this something that needs to be activated from start or can it be added later on aswell? At the moment the customer doesn't seems to have the need but they plan to expand so it might be needed in the futur. 

Kind Regards, Sanne

[Petr_Eisinger]

Hi Sanne,

The functionality of IFRS15 can be implemented in Event-Based Revenue Recognition at any stage. If you find that you need to ensure compliance with IFRS15 at a later date, please consult SAP as outlined in SAP Note 2524569. This enables you to adapt your system to meet the necessary compliance requirements seamlessly.

Best regards,

Petr