SAP RAR Training Introduction:
SAP RAR Training empowers to oversee revenue recognition. It robotizes and rearranges the revenue recognition and accounting process. Our income accounting programming is planned particularly to enable organizations to conform to new statutory controls for revenue recognition and furthermore has the adaptability to help existing prerequisites.
With Global Online Trainings the SAP RAR Training is composed by best industry specialists and the SAP RAR online training instructional exercise is set up with best industry refreshes for offering members best proficient understanding over modules and after finishing of preparing we give SAP RAR certification. The preparation is accessible for individual and corporate batches.We also have virtual job support team from India which will provide job/project support.
Mode of Training: We provide Online mode of training and also corporate, Job Support.
Duration Of Program: 30 Hours (Can Be Customized As Per Requirement).
Materials: Yes, we are providing materials for SAP RAR Online Training.
Course Fee: Please Register in Website, So that one of our Agent will assist You.
Trainer Experience: 12+ years.
SAP RAR Training Online Course Content
Global online trainings offers best SAP RAR TRAINING with most experienced professionals. who are new to e-learning can watch below sample video to understand how an online training sessions can be conducted. For full details about the course please register yourself in the website
OVERVIEW OF SAP RAR TRAINING:
- SAP RAR online training is overseeing our revenue accounting features integrating to a number of operational systems and has been adding more operational components on the integration. Well known of SAP RAR training is helpful for SAP SD training.
- In CRM service integration where we are integrating in to CRM service as well as the package quote and subsequent processes and also the area of cost object controlling is basically an integration area.
- SAP RAR training extensive focus on improving our capabilities within SAP Revenue accounting so we find the improvements in contact management. How deal with contact combinations there were certain limitations are in the earlier versions of the product in how can merge certain operational contacts together in to one revenue accounting contracts.
- Handle solicitations, sales, and events from various SAP or non-SAP structures.
- Get versatility by decoupling salary affirmation rules from orchestrate section and charging systems.
- Give revenue accountants an easy to use accounting course of action.
We also provide SAP SIMPLE FINANCE TRAINING, it helps to known the all financial accounting and financial migration.
Detail of IFRS 15 (International Financial Reporting Standards):
- IFRS 15, in most of companies we were two types of accounting GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards).
- Now within this two accounting standards we need to come to information Revenue Recognization there is difference.
- According to GAAP the Revenue Recognization definition is complete different and according to SAP RAR training definition is different.
- Which is creating confusion when it comes in to a global reporting that is the reason both the is having SAP, FSAP it decided to come up with the common standard which is coves company to perform their Revenue Recognization and Reporting online course in one standard way, some of the companies are extendly using the Revenue Recognization functionality.
- SAP RAR training is try to modified existing component if Revenue Recognization but SAP RAR training found out that they are small changes or a lot of big changes available in IFRS 15 and in order to bring on it would be good completely redesigned product so that is the reason is came up with the completely new product which is available in set off add on.
- SAP RAR training is a legal requirement and it is not charge anything for these. So the SAP RAR training is the component add on which is available free of cost for the customer.
- IFRS 15 is a just five step model in terms of recognize revenue, it a quire simple standard to set in terms of dealing in terms of reorganization standard.
- It is extremely complex in working in telecommunicate that software companies and other companies where have number of contacts with customer are huge.
- IFRS 15 in five steps the first step is identify the customer and contact with the customer and the second step identify the performance obligations and promise to delivers to the customer. Obligation is nothing but the promises which company has made deliver to the customers.
- Third step is determining the transaction price this is nothing but total contract value and then fourth step allocate transaction price each performance obligation and then final or last step is recognize revenue.
Global online trainings explains all the revenue recognition in business and organization and its also well to explain the SAP FICO TRAINING,it is useful known for financial and controlling organization.
Impact of IFRS 15 on industries:
IFRS 15 impact on industries and mostly impact on majority of companies have contact with customers like oil and gas companies, mining companies’ software companies, telecom companies, real estate companies.
SAP RAR works in IFSR 15:
- SAP RAR 1.3 training is data operating and reporting system in case we have telecom operating system, building systems, postpaid systems and all these data collected and converted in to specific model and posted to relevant ECC system.
- The ERP SD Revenue Recognization is not available within SAP S4 HANA.
- The newly available SAP RAR online training (SAP RAR training) functionality should be used instead.
- The new functionality supports the new revenue accounting standard as lined out in IFRS15 and adapted by local GAAP’s.
- SAP RAR training only to support IFRS 15, the SAP RAR training entire module comes up with to support IFSR 15.
- Revenue is very crucial number of the users, the investors, the mangers, and everybody who is working in company.
SAP RAR (New Revenue Reorganization in IFRS 15):
In new revenue reorganization in IFRS 15 in SAP RAR training invloves following steps: They are
- Contact Identification.
- Obligation Identification.
- Price for transaction.
- Allocation of transaction price to obligation.
- Recognize Revenue.
In telecom company it have 1000 contracts with customer each individual contract to identify because promise to one customer it will decide to how to define a customer so first is to identify the customer contract.
In this Obligation Identification is to identify the performance obligations and what do want to promise to deliver when a customer signed a contract with company, the company promise to customer. This will identify to Recognize Revenue.
Price for transaction:
The transaction price is nothing but the total duration how much customer is going to pay let say the contact is for 2 years every month customer aggregate to pay 500 rupees. So to else how much customer going to pay that becomes total transaction price.
Allocation of transaction price to obligation:
Alloaction of transaction price to performance obligation, this is a tricking part where IFRS 15 as cleared mentioned that the revenue to require depends each performance obligation. The standard on selling price is that use a data IFRS 15and over selling price is nothing but the RRP the MRP is the customer without this contract once to buy the particular item.
In the performance obligations are distinct; the agreement cost is allotted between them in view of the evaluated independent offering cost of every execution commitment.
The real income must be perceived upon the exchange of merchandise or administrations to client.
SAP RAR ARCHITECTURE:
- SAP RAR training works is completely on separate add on move from sap application or any third party application it can SAP CRM or SAP HYBRIS where ever creating contacts the data must go through our SAP RAR training SYSTEM.
- Where can recognize the revenue and at the same time the documents will post and entered an as well as any accounting and flow back to FI.
- Create contract in any SAP component. Which means the customer who are not using SAP at all as their core system but they are also need revenue accounting for performing revenue recognization by SAP RAR training.
- SAP Revenue Accounting consists of mid layer i.e. SAP Adapter Revenue layer which is the mid layer in way which determine all the mappings how exactly the data will converted from SAP to SAP Revenue Accounting. In the SAP RAR training architecture it have Business ruling framework in that we are determining the different rules like which fields SAP SD,SAP CRM as the third parties will be map which fields in SAP RAR training.
- Virtual job support is rich in providing job/project support by senior consultants at flexible timings.We provide job support extensively for USA students at an affordable cost.We have a good team from India who are excellent in the technical perspective.
New SAP RAR Configuration guide rules:
For finance and accounting and all type groups they touch within the organization this represents a new beginning are still trying to figure out what changes in way revenue is recognized.
- The revenue recognition guidance differs by industry automotive telecom or software industries.
- The new guidance will have a consistent and robust set of principles for recognizing revenue across industries transactions and geographic.
- Restricted necessities with practically no data to enable you to comprehend income emerging from contracts with clients.Our consultants at virtual job support are highly skilled in providing job support/project support at flexible timings.
- Under new direction you will get a strong arrangement of these conclusion prerequisites to give clients of your money related articulation a superior comprehension of the nature sum timing and vulnerability of income being perceived.
- Currently consideration is not recognized when under variable terms until the amount is earned and fixed.
- Under new rule items that can change the amount received from the customer such as rebates discounts penalties and bonuses need to be estimated and included in the transaction price.
- The multiple element arrangement deliverables are evaluated to determine if they represent separate units of accounting.
- Under the new guidance entities will identify each of the goods and services promised to a customer to determine whether those represent a distinct performance obligation this may result in more goods and services being indentified.
- At present time in a multiple element arrangement the amount allocable to a delivered unit of accounting is limited to the amount not contingent upon delivery of additional items or meeting other specified performance conditions.
- Under the new rule entitle will allocate the transaction price to each of the performance obligations in the contract on the basis of the relative standalone selling price of the underlying goods and services.
SAP RAR training impact on whole organization:
- ACC 606 is the biggest revenue accounting change in the past 20 years since the passing of SOP 97. We believe the new revenue recognization rules impact the entire company beyond technical accounting and in fact are wide reaching as the Sarbanes Oxley act.
- Oxley act was passed by the US congress in 2002 from discussions that we are having with companies it’s very apparent that most have not looked at the new rules under the mindset that this change is trivial.
- When apply an AC 606 to company’s transactions could arrive at the same number as for ASC 606 over line but how to go to that number will be very different need to be able to explain it n detail how to got number so it’s not trivial so companies will need to write new revenue recognition policies and related policies.
- The importance of the changes on revenue are and the impact of the changes on the company as a whole opportunities that can take advantage of what do about it and systems to help to manage the change for the company management going forward.
- The companies must select either to transition options either the full retrospective method or the modified retrospective method, this is an important decision.
- But there are other matters to consider the reality is that either method is hard either method a lot of work choosing one method versus the other will be based on facts and circumstances.
- And company preference so additionally important that and in the process of choosing have to document the process and controls supporting the conclusion.
- The ASC 606 in SAP RAR training will affect of all companies to some degree and revenue recognition is a key metric. Revenue is the bases for many business decisions.