Oracle's Initial Response to the US GAAP & IFRS New Revenue Recognition Standard
FASB and IASB’s new “Revenue from Contracts with Customers” was finally published in May 2014. Seamus Moran, Senior Director Product Management discusses some of the implications and how this may affect you, no matter in which industry or countries you operate. It considers the implications for accounting, software, and systems and briefs you on Oracle’s latest products and updates. It also discusses performance obligations and contracts; estimated selling price valuation; performance obligation liabilities; revenue on satisfaction; and how you can manage pricing and phasing, carve-outs and satisfaction, obligation tracking and revenue recognition, and dual reporting and accounting. This material was presented at Oracle OpenWorld 2014.