Page 4 - How to prepare for IFRS 15_V3_JW_2

SAP IFRS Revenue Recognition Background
§ SAP’s Chief Accounting Officer, Christoph Huetten, is Vice-Chairman of the IFRS/ IASB Advisory Board
§ SAP meets with the IASB staff regularly
§ SAP accountants are part of the first corporate review team for the upcoming rev. rec. standard
§ SAP meets with the Big 4 regularly
§ SAP has met with 100+ customers on
revenue recognition in the last 2 years
§ A project for a new revenue recognition standard has been set up to meet:
§ Changes in accounting standards, e.g., US-GAAP SOP 97-2, EITF 08-1, EITF 09-3, etc., replaced with one standard for “contracts with customers”
§ Parallel accounting and cost recognition
§ Ongoing globalization
§ Increasing demand for high performance revenue recognition due to new business models (e.g., digital sales)
Ongoing Development Project
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