As the date for transition to the new lease accounting standard IFRS 16 was approaching, Tyman were looking for a systemised solution for the reporting of leases under the new accounting standard.Read more >
SBAB Bank, a Swedish bank focused on mortgage lending and borrowing, was experiencing limitations in their existing EPM solution. After working for several years with Oracle Planning and Budgeting on-premise, they started looking into a more cost-effective Cloud-based way to deliver the same service to the organisation but also to provide more interactive and self-service reporting analytical tools.Read more >
Oracle Analytics Cloud (OAC) was initially released during the second quarter of 2017 as part of Oracle’s Cloud strategy. The OAC software is fully compatible with all Oracle Cloud products and fits well with a wider Cloud solution strategy.Read more >
An opportunity to introduce improved methods for group reporting
In 2013 OECD and G20 countries adopted a common action plan on Base Erosion and Profit Shifting (BEPS) that identified 15 actions to combat profit shifting.
Country-by-Country Reporting (CbCR) is part of the OECD's Action Item 13. In short, large multinationals must provide an annual report that breaks down key elements of the financial statements by jurisdiction.Read more >
Automation: it is everywhere in the Accounting and Finance world, from invoicing to salary payments. Where there is a large proportion of repetition in a boring workflow, automating it is the sensible option.Read more >
In the blog post "What is analytics and why do we need it?" I stated that the data from disparate data sources should ideally be collected into a common data warehouse. Let's take a midsize company as a simple example in order to make this more tangible. The company makes money by billing hours and would therefore at least track the following profit metrics: employee cost, utilisation and forecasted earnings. Even a small company would need the following systems:Read more >
Will the software solution solve my planning issues?
In recent years, we have experienced many new software solutions for planning, budgeting and forecasting (PBF). Companies have acquired and implemented new software solutions with the anticipation that their PBF issues disappear like snow in the sun.Read more >
This time around, I’m writing about elimination of percentage of completion elimination (POC). This concerns companies with long-term projects and who choose to book the revenue based on the POC. Instead of booking the revenue once when the entire project is finished, revenue is booked gradually as the project progresses based on the share of the incurred cost of the estimated total cost and estimated margin.Read more >