![]() POB 20: Optimization Concept East Region,Ħ0 hrs x 200,- USD/hrs with 15% discount = 10200,- USDĮstimated Travel Costs and Expenses 5.000,- USD.POB 10: Optimization Concept West Region,Ĩ0 hrs x 200,- USD/hrs with 25% discount = 12000,- USD.Three sales order items are created and each item is assigned to a new performance obligation with the assessments assigned: The new sales order is created with reference to the project reflects a 1:1 relantionship with the revenue accounting contract. The assessment for IFRS 15/ASC 606 made by Printing Solution Corp on how to setup the sales order and revenue accounting contract are summarized here. The travel and expenses for the consultants are to be handled in a dedicated sales item for passing the expense through. This case document focuses on managing travel and expense transactions as they relate to the SAP Business ByDesign enhancements for IFRS 15/ASC 606.Įxample: Media Productions Limited has agreed to run a project with Printing Solution Corp as consulting partner to identify optimization potentials for the existing printing facilities in the East Region and in the West Region They agree on 2 separate deliverables: optimization document for printing facility in West Region and East Region. It is quite common in the professional services industry for clients to manage project related travel and expense transactions. Including or excluding from allocation basis of a revenue accounting contract.Travel and Expenses – pass through to customer with markup for administration costs.Travel and Expenses – pass through to customer.The following topics will be outlined in this case document: SAP Business ByDesign cannot give legal advice nor can we assess the future best practices of how the professional services industry or customer projects taking IFRS 15/ASC 606 regulations into account are to be handled. A series of case documents introduces the key requirements of IFRS15 /ASC606 along with steps to be taken by the client to implement the functionality. SAP introduced enhancements to SAP Business ByDesign to allow customers to comply with accounting standard IFRS15/ASC606 revenue recognitions requirements.
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