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International Financial Reporting Standards (IFRS)

Sun, 2017-10-15 00:59
International Financial Reporting Standards (IFRS) Oracle’s Financial Mgmt Solutions Segment reporting Specialized currency Intercompany reconciliations Inventory management Multi-GAAP management Flow, audit trails Custom dimensions Financial intelligence Simulations, impacts Reports, MS Office direct links   IFRS is coming to the US Oracle is designed to address the IFRS requirements Organizations likely didn’t originally implement Oracle with […]
Categories: APPS Blogs

Study: ASC 606 Might Slow IPOs in 2018 ??

Fri, 2017-10-13 20:33
A new study by Deloitte reveals that initial public offerings (IPOs) may suffer as a result of New Accounting Standard (ASC606) Here are excerpts from an article by Terry Sheridan in accountingWEB.com Here’s a snapshot of the survey’s findings: 60 percent of the respondents said they have not begun implementation of the standard or have […]
Categories: APPS Blogs

bank Statement reconciliation

Fri, 2017-10-13 11:41
Reconciliation provides a means of determining the balance on the bank accounts in Oracle Financials is equivalent to the balance shown on the bank statements. The High Point of the Reconciliation activity in Cash Managment includes: All transactions processed via the Oracle Accounts Payable, General Ledger and Oracle Accounts Receivable is reconciled against transactions on […]
Categories: APPS Blogs

Vertex and Oracle Cloud

Fri, 2017-10-13 09:28
Oracle ERP Cloud Transaction Tax Automation is consist of Comprehensive Tax Partner Offerings Robust infrastructure for tax partner solutions Tax Content and Tax Reporting services providing fast ROI option for mid-market companies adopting Oracle ERP Cloud Integrated Cloud-to-Cloud tax calculation services for enterprise grade companies Infrastructure has been optimized for ERP Cloud customers using end-to-end […]
Categories: APPS Blogs

Introducing Oracle’s intelligent Bots

Mon, 2017-10-02 08:45
Do you know ,Chatbots are the latest and hottest topic and the newest way to engage your customers , employee or partner through messaging apps. This is one of the most interesting sessions that I attended on the first day of Oracle OpenWorld 2017 and there this post will help to share more insights on […]
Categories: APPS Blogs

EBS : Milestone Billing

Fri, 2017-09-29 18:59
Milestone is a type of billing that occurs only as certain milestones have been attained. Milestones are events or conditions that trigger the billing. For example, you can bill customers based on the number of days since the activity began, a specific date, a manual milestone you specify, or an activity percentage of completion. You […]
Categories: APPS Blogs

Excellent reference for understanding technical terms related todays IT….

Sat, 2017-09-23 22:01
Here is the Ultimate Fin Tech Glossary got a fwd email (source internet).
Categories: APPS Blogs

A Primer For Finance Professionals- Blockchain

Wed, 2017-09-06 12:02
Blockchain technology has created waves around the World, bringing transparency and massively reducing costs in sectors like Banking, Finance, Logistics and Manufacturing, among others. And this is only the beginning... What is blockchain? And what are the potential implications for finance? Great primer What is blockchain? A primer for finance professionals
Categories: APPS Blogs

ASC 606 and IFRS 15 Revenue Recognition automation

Fri, 2017-09-01 12:11
Do you know , there have been multiple acquisitions and announcements in the revenue recognition space as IT vendors ensure that they can support the ASC 606 standard including: Intacct’s May 2016 announcement as the first automated ASC 606 solution Zuora’s May 10th, 2017 acquisition of Leeyo CallidusCloud’s May 24th, 2017 acquisition of RevSym Aptitude […]
Categories: APPS Blogs

ASC 606 & IFRS 15: Revenue from Contracts with Customers

Sun, 2017-07-09 02:44
As we all know, on May 28, 2014, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) together issued a converged standard about recognition of revenue from contracts with customers. Known as ASC 606, Revenue from Contracts with Customers, the standard will improve the financial reporting of revenue and improve comparability […]
Categories: APPS Blogs

ASC 606/IFRS 15 & Oracle’s Revenue Management Cloud Service (RMCS)

Sun, 2017-06-11 06:13
As we know , the entire accounting approach to revenue recognition is undergoing a wholesale re-write. Rather than relying on using a deferred revenue account, you will need to identify and account for performance obligations. WHAT CHANGES ARE BEING INTRODUCED? Revenue recognition is taking a more scenario and rules based approach to what can be […]
Categories: APPS Blogs

Revenue Standard : effective dates for reporting using the new accounting standards

Sun, 2017-06-11 04:09
Q :What are the effective dates for reporting using the new accounting standards A : The expected effective dates are For public entities, the effective date starts with reporting periods beginning on or after December 15,2017. Fornonpublic entities, the effective date will be deferred for one year to annual reporting periods beginning after December 15, […]
Categories: APPS Blogs

Balance sheet Basics

Fri, 2017-06-09 00:47
To undestand this take a example from Individual to Business. If you want to consider your own financial situation ,then three things you will consider : How much is owns How much is owes and, these two makes how much is your net worth. net worth =owns - owes or owns =owes +net worth So […]
Categories: APPS Blogs

Revenue recognition transition adoption Options- Full or modified retrospective?

Wed, 2017-05-10 12:13
The deadline for adoption of the new revenue recognition standards under ASC606 is fast approaching. Public companies need to adopt for fiscal years beginning in 2018 while private companies have until 2019. The changes in how to account for software and services can be significant, often requiring the break out of underlying performance elements that […]
Categories: APPS Blogs

Revenue Standard : Approach to transition to the new standard

Tue, 2017-05-09 04:36
Question : Is there an approach to transition to the new accounting standard? A: The standard states that the methods to transition to the new standards are as follows: Entities are permitted to apply the new revenue standard either retrospectively subject to some practical expedients (that is, to restate prior periods for a consistent basis […]
Categories: APPS Blogs

ASC 606 ) Step5 :Recognize revenue as performance obligations are satisfied

Thu, 2017-05-04 23:58
The underlying principle of the new standard is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The standard consists of a five-step approach as follows: Fig : 5 steps […]
Categories: APPS Blogs

Ten Signs Your Boss Sees You As A Threat

Thu, 2017-03-09 10:17
Every person has a gift, or an ability that sets them apart from the crowd. Good managers recognize this and try to use it to their advantage. Great managers try to surround themselves with talent...they recognize that with that much talent in their corner, they can't fail. Bad managers feel threatened and try to discredit […]
Categories: APPS Blogs

Printing Barcode tag from Oracle Applications

Sat, 2016-12-10 17:53
Healthcare is treated as one of the asset intensive industry. In healthcare/life science there are processes for fixed assets that requires that barcode tags bearing globally unique numbers be affixed to all tangible assets listed as on the Fixed Asset register. Normally companies prefer to have asset tag printed from the system on pre-printed stationary […]
Categories: APPS Blogs

Oracle Student Cloud’s aka Oracle CX for Higher Education

Sat, 2016-10-29 06:53
Oracle Student Cloud’s new Oracle CX for Higher Education uses Oracle’s intuitive mobile technology to help recruiters boost their pipeline by targeting and qualifying best-fit prospects via social, email, and SMS CRM capabilities. Oracle Student Recruiting Cloud’s embedded analytics also help improve forecasting and monitor and optimize recruiters’ performance in their territories. Student Engagement broadly […]
Categories: APPS Blogs

Oracle Buys NetSuite

Mon, 2016-08-01 11:26
Oracle set the ball rolling with Netsuite acquisition. Oracle OpenWorld Keynote—Cloud Innovation, Mike Hurd (Oracle CEO) predicted that by year 2025 - "Two software-as-a-service (SaaS) suite providers will have 80 percent of the cloud enterprise application market. I volunteer us to be one of them Everything came full circle with NetSuite last week, when Oracle […]
Categories: APPS Blogs

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