Part 3 of this blog series continues our discussion on the impacts of the new ASC 606 revenue recognition standard issued by FASB and IASB and reviews the third step in the five-step model for recognizing revenue from contracts with customers. Read about determining the transaction price:
A performance obligation (commonly referred to as deliverables) is a promise to transfer goods or services to a customer. A good or service is distinct when the customer can benefit from said good or service on its own or with resources the customer already has. Continue reading part 2 of this blog series:
What is Project Portfolio Management? Project Portfolio Management (PPM) is used by organizations to strategically identify, select, and manage their portfolio of projects in alignment with key performance metrics and strategic business objectives. In this blog, our experts dive into the why:
ASC 606 is the newest revenue recognition standard issued by FASB and IASB. The new standard provides a five-step model for recognizing revenue from customer contracts. This blog outlines the first step and demonstrates how to complete step 1 for the three common contract types:
These changes are only a few quarters away. Are you ready? The core principle in the converged standard requires that an entity recognize revenue to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration in exchange for those goods and services. Learn more:
Do you find your Project Managers and financial reporting teams manually tracking budgets with spreadsheets? In this blog, we will walk through the basic structure of Project Budgeting and how it can be easily used to baseline the financial revenues, cost, and margin associated with a project:
Learn how Unifier Cloud was to manage costs for a nationwide project portfolio. 30 business processes assist the client in managing budgets, commitments, spending, and forecasts. The native Cash Flow Manager and custom reports provide real-time project control data. Continue reading:
Introducing federal government contracts without changing the business model can be challenging. Companies must comply with federal contracting regulations but avoid unnecessary restrictions on their commercial product business. Continue reading:
At Oracle Industry Connect 2015, held recently in Washington, DC, one of the most interesting sessions was the Keynote for the Primavera track. It started with a presentation by Alberto Matucci of GE Oil and Gas, which we covered in our prior blog article. Continue reading:
Oracle Industry Connect was a valuable conference for attendees from various industries, including most project-centric industries. One of the most interesting sessions was the Keynote for the Primavera track. Continue reading:
