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ASC 842 :Audit Procedures for Leases

Fri, 2019-12-20 03:59
The new Financial Accounting Standards Board (FASB) and international financial reporting standards (IFRS) lease accounting standards (ASC 842 and IFRS 16) will take effect in 2020 for private companies. The standards bring many leases onto the balance sheet and could significantly impact a business’ financial statements. Here is great post on Audit Procedures for Leases […]
Categories: APPS Blogs

Design Thinking in IT Development life cycle

Thu, 2019-12-12 04:07
Here is question from a reader Does integrate design thinking help into day to day operations of IT and Service Management ? Is there any frameworks or matured models of Design thinking embedded into development cycle? Design thinking at its very core is about understanding your customer’s needs better than they can ever articulate it […]
Categories: APPS Blogs

Realizing potentials is mark of a great company

Fri, 2019-08-30 12:12
You should also take an extra look at the people who 'may not be ready,' and analyze them on the basis of their ambition, reputation, and passion for your business." An interesting read on what makes for inspring leader Hire Leaders for What They Can Do, Not What They Have Done
Categories: APPS Blogs

Oracle EBS 12.2.9 is Available….

Thu, 2019-08-22 00:56
Oracle E-Business Suite 12.2.9 is available now! Release 12.2.9 is a suite-wide patch that offers new features and enhancements, and provides regular updates. These improvements are geared towards further increasing efficiency, supporting modern business workflows, and providing a more intuitive user interface. Release 12.2.x customers can apply 12.2.9 directly to their environments. EBS 12.2.9 is […]
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Finding your Ikigai

Sun, 2018-03-04 09:24
Do you know , The Japanese Concept ‘Ikigai’ is a Formula for Happiness and Meaning Ikigai ( pronounce ee-kee-guy ): passion | love | mission | vocation | profession Everyone, according to Japanese culture, has an ikigai. Finding it requires a deep and often lengthy search of self. It is your reason to get up […]
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Oracle Adaptive Intelligent Applications for ERP

Fri, 2018-02-16 11:51
Recently Oracle announced new AI-based Apps for Finance Leaders to empower CFOs w/ data-driven insights to adapt to change, develop new #markets & increase profitability! With Oracle Adaptive Intelligent Applications for ERP, finance leaders can benefit from: Better insight: Making use of analytics and synthetic intelligence to finance can enhance efficiency and will increase agility […]
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How Blockchain Technology Will Impact Accounting.

Thu, 2017-12-21 11:13
Since this data is unchallengeable and absolute, accountants and auditors can save valuable time, which can also decrease cost. He highlights that, from an audit prospective, using blockchain, artificial intelligence, and cognitive tools can increase audit volume to help get through massive volumes of data. The technology also extends itself in helping accounting firms prevent […]
Categories: APPS Blogs

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 […]
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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 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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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