Remodel Oracle E-Business Suite!
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Moving to a shared services model reduces costs and optimizes performance, but taking the right steps is necessary for a successful outcome. Explore the initiatives and challenges of a common chart of accounts and calendar for companies moving toward enterprise-wide shared service center operations. We will focus on how standardizing the data streamlines business processes, eliminates silos and facilitates the new functionality of Release 12. Case studies that discuss best practices and impact will be shared.
Cinch Connectivity Solutions was a spin-off from Emerson, and was acquired by Bel Fuse. Cinch needed to quickly change their calendar to match Bel’s, do an asset revaluation to satisfy GAAP, move their instance to a new hosting provider, and restructure to accommodate inventory org changes. Simultaneously, a division of Power One was also acquired by Bel. With two EBS instances, Cinch now needs to streamline operations, and have Bel recognize the economies of scale and emergent synergies of their acquired companies.
Preparing adjusting entries involves a lot of journal entries, staff input and tedious work. Not anymore. One of the exciting features in Oracle E-Business Suite Release 12 is the introduction of adjustments-only secondary ledgers. As a more efficient processing of adjustments, adjustment ledgers reflect only adjustments without affecting your primary ledger, allowing entries to be made discretely. Explore the benefits of using adjustment ledgers, complete with a step-by-step setup guide.
When planning for a transition from Release 11i to Release 12, an examination of the reimplementation or new implementation strategy comes up short. It really isn’t a redesign of the business processes, and it’s not required to change configurations. But it is expensive and time consuming. An R12 upgrade has a lower cost than a reimplementation, you can keep your history, and you can streamline your business processes. Learn how your organization can avoid a reimplementation and still leverage the features of R12.
A useful chart of accounts provides flexibility for recording and reporting financial information, allows uniform management, and enhances communication. Five fundamental criteria for chart of accounts design in Oracle E-Business Suite will allow your business to create a forward-thinking chart of accounts to optimize growth and flexibility, while minimizing maintenance. Learn these criteria and how to design your own chart of accounts.
Changes in financial reporting requirements have transformed the fixed asset accounting framework. International Financial Reporting Standards (IFRS) require fixed assets to be recorded at cost, but there are two accounting models – the cost model and the revaluation model. So what’s the difference, and when should you use each? This session will address fixed asset accounting and reporting under both models and how each is accounted for in Release 12.