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On the move for IFRS 15: how to be compliant with no disruptions. Let us first run a high level report to see the impact the new IFRS standards have on our P&L.

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As you can see, reports can run in the browser and in Excel: in the first column you can see the 'AS IS' numbers from the general ledger,

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then 2 columns with the impact of 15 and 16, and in the last column the adjusted numbers. There we see a 'DELTA' for revenue recognition resulting from the IFRS calculations.

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Let's have a look at the process of collecting the contract information, first. As you can see different processes can be combined and configured in one application.

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This particular process has 5 steps configured:

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data collection from the various entities in your organization, the modeling and calculations to derive the necessary IFRS adjustments  

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and finally reporting and release to update the various local GLs. For all entities you can easily see where they are in the process.

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Typically in this step you will load data from various sources, including your general ledger for the 'AS IS' information, and the contract database or the contractual details.

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Let's have a look at a simple example of a contract.

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This TELCO contract has 4 performance obligations:

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Internet connection with SMS, cloud service, multimedia and of course the handset.

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The information about the 'Transaction Price' for 'Performance Obligation' can be loaded or calculated by CCH Tagetik.

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Furthermore you see information for the point in time or overtime fees,

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start and end date of the 'Performance Obligation'... etc...

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Many other fields are available for other contract types as well.

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Let's see what the calculations, based on these parameters, are: both the 'AS IS', the 'DELTA' and the 'TO BE' numbers are shown with the months in the columns.

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As you can see, the contract asset is calculated, and we are just in time as the performance obligations are satisfied.

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Reports like this can be easily created or modified by each client, it can be run at any level

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in your organization, both for individual contracts, contract clusters or high levels,

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both for actual reporting, but also for forecasting and budgeting.