Thursday Sep 27, 2012

Oracle OpenWorld - 3 Days and Counting!

If you haven’t set your schedule for OpenWorld yet, here’s your chance to reserve a seat at some of the key Financial Management sessions. There’s over 120 sessions specific to our Financials audience that will not only focus on Oracle’s financial product lines, but will also discuss controls and compliance, as well as analytics, budgeting/planning, and financial reporting and the close process. For a complete list of sessions, view any of the Focus on Documents located on the OpenWorld site.

Key Sessions:

Day

Time

Session

Location

Monday

3:15

Oracle Fusion Financials: Overview, Strategy, Customer Experiences, and Roadmap

Moscone West - 2003

Monday

3:15

Oracle Financials: Strategy, Update, and Roadmap

Moscone West - 3006

Tuesday

11:45

General Session: What’s Next for Financial Management Solutions at Oracle?

Moscone West - 3002/3004

Tuesday

1:15

Exploring Oracle Preventive Controls Governor’s Features Through Real-Life Examples

Palace Hotel - Presidio

Weds

10:15

Oracle Hyperion Enterprise Performance Management: A Bridge to Oracle Fusion Financials

Palace Hotel - Concert

Weds

1:15

Oracle Fusion Financials Coexistence with Oracle E-Business Suite

Moscone West - 2011

Weds

3:30

McDonald’s Adopts Financial Analytics to Increase Business Performance

Moscone West - 2011

Thursday

12:45

User Panel: Reducing Upgrade Errors and Effort While Improving Compliance Palace Hotel

Palace Hotel - Presidio

Tuesday Sep 18, 2012

Don't Miss The OpenWorld Session: The Impact of the Upcoming Revenue Recognition and Lease Accounting Changes

Would you like to learn more about Revenue Recognition and Leases Accounting changes from subject matter experts?

Would you like to better prepare your organization for the upcoming changes?

If yes, then it's not too late to register for OpenWorld 2012 and meet Christopher Smith and Ashima Jain from PwC as well as our resident accounting expert, Seamus Moran, who will be presenting at Session 9462: The Impact of the Upcoming Revenue Recognition and Lease Accounting Changes.

Here are the details about this session:

Date: Oct. 1, 2012 

Time: 10:45-11:45 a.m

Place: Moscone West Room 2005

Abstract: With the new revenue recognition rules expected to be issued this year and the lease accounting rules expected to be issued next year—both expected to be applied retroactively—businesses all around the world face many changes until the effective date of these proposed standards. In this session, learn from PricewaterhouseCoopers on the potential impact on accounting, processes, and systems and hear from Oracle about the proposed updates to Oracle E-Business Suite to assist you in assessing the impact on existing contracts, technology, and processes.

Thursday Sep 13, 2012

The 2012 Gartner-FEI CFO Technology Survey -- Reviewed by Jeff Henley, Oracle Chairman

Jeff Henley and Oracle Business Analytics VP Rich Clayton break down the findings of the 2012 Gartner-FEI CFO Technology Survey.  The survey produced by Gartner gathers CFOs perceptions about technology, trends and planned improvements to operations.  Financial executives and IT professionals can use these findings to align spending and organizational priorities and understand how technology should support corporate performance. 

 

Listen to the webcast with Jeff Henley and Rich Clayton - Watch Now »

Download the full report for all the details -   Read the Report » 

     

Key Findings

  • ·        Despite slow economic growth, CFOs expect conservative, steady IT spending.
  • ·        The CFOs role in IT investment has increased again in 2012.
  • ·        The 45% of IT leaders that report to the CFO are more than report to any other executive, and represent an increase of 3%.
  • ·        Business analytics needs technology improvement.
  • ·        CFOs are focused on business analytics and business applications more than on technology.
  • ·        Information, social, cloud and mobile technology trends are on CFOs' radar.
  • ·        Focusing on corporate performance management (CPM) projects, 63% of CFOs plan to upgrade business intelligence (BI), analytics and performance management in 2012.
  • ·        Despite advancements in strategy management technologies, CFOs still focus on lagging key performance indicators (KPIs) only.
  • ·        A pace-layered strategy for applications is needed (92% of CFOs believe IT doesn't provide transformation/differentiation).
  • ·        New applications in financial governance rank high on improving compliance and efficiency.

Thursday Sep 06, 2012

2013 U.S. GAAP Financial Reporting Taxonomy Available for Public Review and Comment

FASB recently released the proposed 2013 U.S. GAAP Reporting Taxonomy. Comments are due October 29, 2012 to be finalized and published early 2013. 

The proposed 2013 U.S. GAAP taxonomy and instructions on how to submit comments are available at the FASB’s XBRL page.

In previous blog entries, I talked about how Oracle Hyperion Disclosure Management supports the latest taxonomy, enabling financial managers to easily comply with the latest filing requirements. The taxonomy is a list of computer-readable tags in XBRL that allows companies to annotate the voluminous financial data that is included in typical long-form financial statements and related footnote disclosures. The tags allow computers to automatically search for, assemble, and process data so it can be readily accessed and analyzed by investors, analysts, journalists, and regulators.

You do not have to have Oracle Hyperion Financial Management, used for consolidating financial results, to generate XBRL. You just need Oracle Hyperion Disclosure Management to generate XBRL instance documents from financial applications, such as Oracle E-Business Suite, Oracle PeopleSoft, Oracle JD Edwards EnterpriseOne, and Oracle Fusion General Ledger.

To generate XBRL tags and complete SEC filings using your existing financial applications with Oracle Hyperion Disclosure Management, here are the steps:

  1. Download the XBRL taxonomy from the SEC or XBRL Website into Hyperion Disclosure Management to create a company taxonomy.
  2. Publish financial statements from the general ledger to Microsoft Excel or Microsoft Word.
  3. Create the SEC filing in the Microsoft programs and perform the XBRL tag mapping in Oracle Hyperion Disclosure Management.
  4. Ensure that the SEC filing meets XBRL and SEC EDGAR Filer Manual validation requirements.
  5. Validate and submit the company taxonomy and XBRL instance document to the SEC.

Get more details about Oracle Hyperion Disclosure Management.

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Focusing on solutions for the Office of Finance, this blog will highlight key financial management market trends, events and other news of interest.

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