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New Revenue Recognition Guidelines: What Are the Guidelines and Examples?

Part two of a 6-part series on new revenue recognition guidelines. The core principle of the new guidelines is to recognize revenue to depict the transfer of promised goods or service to customers in an amount that reflects the consideration to which the entity expects to be entitled for those goods or services2. That is, the aim is to recognize revenue consistently as the customer assumes ownership of the various components of a contract, and values the revenue at...

Tuesday, April 19, 2016 | Read More

New Revenue Recognition Guidelines: Like it or Not, They’re on the Way

Part one of a 6-part series on new revenue recognition guidelines. In May, 2014, the Financial Accounting Standards Board and the International Accounting Standards Board issued a joint revenue recognition standard related to customer contracts. The new guidelines impact most organizations that deliver goods and/or services on a contract basis, especially when delivered over extended periods of time.Using the new guidelines for revenue recognition, companies align revenue to...

Monday, April 11, 2016 | Read More

The Data Governance Journey – How do we map out the trip?

By Guest Blogger Gilles Demarquet A previous post stated that the business user community and IT share responsibility for the maintenance of hierarchy definitions in a hybrid environment. While this helps to narrow “who” is involved in maintaining data hierarchy definitions, there is also need to consider the “how” the data hierarchy changes will occur. To answer “how” involves data governance.I see two stages in the data governance journey: transition, when a data governance...

Monday, April 11, 2016 | Read More

The Data Governance Journey - What do we take on the trip?

By Guest Blogger Gilles Demarquet The data governance journey is about helping an organization consistently and correctly make sense of its data. What is data? Where does it come from? Are there different types of data?In simple terms, an organization performs transactions – a few transaction examples for a manufacturing company include: purchase supplies, produce a product, sell products to customers, receive payment for sales, pay for supplies. For statutory purposes,...

Monday, March 28, 2016 | Read More

The Data Governance Journey – Why is it Important to Take This Trip?

By Guest Blogger Gilles DemarquetPeople have been asking me questions about data governance - “Why is data governance important?” “What is it, anyway?” Let me take a moment to describe what is happening with organizational data today, and why the data governance journey is important.Most people recognize that organizational data is required by and being accessed across a wide spectrum of the business. Organizational data is being re-purposed and reused in ways its creator and...

Monday, March 14, 2016 | Read More

Reasons to be Cheerful – a Whole 1000 Cloud Reasons!

In the song “Reasons to be Cheerful (Part 3)” released by Ian Dury and Blockheads in 1979, the lyrics list – believe it or not – many reasons to be cheerful! You will be pleased to know I will not be listing 1000 reasons here, as my 1000 reasons relates to the milestone reached last month of 1000 customers of Oracle EPM Cloud Services. A milestone reached in just two years from the release of the first Oracle EPM Cloud Service – Oracle Planning and Budgeting Cloud Service...

Tuesday, March 8, 2016 | Read More
 

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