This step 5 of this blog series, our experts examine the impacts of ASC 606, Revenue from Contracts with Customers, and introduce the use of Oracle Projects to facilitate compliance with the new revenue recognition standards and five-step process:
Allocate Variable Consideration and Volume Discounts. In step 4 of this blog series, our experts outline how to use Oracle EBS Projects to complete Step 4 and allocate the transaction price across obligations for each of the three service contracts discussed:
A successful Project Portfolio Management (PPM) solution consists of three fundamental components that must be implemented in adherence to business value and strategy: project selection, project resources, and project information. In this blog our experts review what you need to know:
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:
The payroll transaction will be processed directly into the GL and will not pass-through PPM. There is no way to easily split the transactions across natural accounts for Direct & Indirect charges. It will only transfer the salary and benefits transactions into separate realistic accounts. Continue reading:
Oracle’s ERP Project Portfolio Management (PPM) Cloud provides simplified modern comprehensive project financial management tools. Oracle PPM Cloud allows Finance Teams to monitor time, expense entry, and invoice automation using a single dashboard. Continue reading:
