The New SAP Revenue Accounting and Reporting Solution
To support customers with this new standard, SAP has completed a multi-year development effort and has created SAP Revenue Accounting and Reporting to be ASC 606 and IFRS compliant from the ground. Starting with the first release in 2015, SAP has continued to add features to address requirements laid out in the new regulations. The most recent release, SAP RAR 1.2 is designed to specifically address requirements derived from the new accounting standards particularly in the areas of costs, contract management, and data transition across various accounting principles, as well. SAP RAR simplifies and automates even complex revenue accounting processes. SAP’s RAR Solution automates and simplifies revenue accounting for companies large and small and is the solution that was designed with the latest Revenue Recognition Standards in mind. SAP RAR 1.2 is the only solution to support multiple standards.