Session ID: 11281
Abstract: The accounting standard ASC 606 / IFRS 15 Revenue from Contracts with Customers has been effective since Jan. 1, 2018. Come to this session to learn how Oracle Fusion Revenue Management Cloud Service enables you to address the new standard. It is a centralized, automated revenue management product that provides a configurable framework to automate the identification and creation of customer contracts and performance obligations and their valuations and resulting accounting entries, with the ability to recognize the revenue over time or at a point in time. In this session go through how it works with Oracle E-Business Suite, see the key features and capabilities, and best implementation practices.
Objective 1: Highlight key changes introduced with the new accounting standard
Objective 2: Practical guidance on crucial configuration and data identification to generate accounting contracts and performance obligations, accounting for the accruals for performance obligation liability and right to invoice contract asset, as well data to drive the recognition of revenue
Objective 3: Overview of how clients have approached system adoption
Objective 4: Gain insight into how E-Business Suite integrates with Revenue Management Cloud