2. Fusion Project Contract Billing Cloud Service
Accounting Model Pre and Post IFRS 15 / ASC 606 Adoption
Perry L. Unrau CPA, CGA
Senior Principal Product Manager
September 9, 2018

3. Pre IFRS 15 Project Contract Accounting Model
P1-E ,000
P2-E ,000
P1 bal ,000
P2 bal
Accounts Receivables (AR)
P1-E ,000
P1-E ,500
P1 bal ,500
P1-E ,000
P2 bal ,500
Unbilled Receivables (UBR)
Deferred Revenue (DFR)
P1-E ,000
P1 bal
P2-E ,000
P2-E ,000
P2 bal
P1-E ,500
P1 bal 2,500
Revenue (REV)
Period 1-Entry 1 (P1-E1)
Dr. AR ,000
Cr. DFR 1,000
Record invoice to customer
Period 1-Entry 2 (P1-E2)
Dr. UBR ,500
Cr. REV 2,500
Recognize revenue
Period 1-Entry 3 (P1-E3)
Dr. DFR ,000
Cr. UBR 1,000
Reclassify billing offsets
Period 2-Entry 4 (P2-E4)
Dr. UBR ,000
Reverse classification
Period 2-Entry 5 (P2-E5)
Cr. AR 1,000
Record credit to customer
Accounting Entries
Account Activity
Reclassifying billing offsets nets Unbilled Receivables and Deferred Revenue.
Oracle Project Portfolio Management Cloud: Project Financial Management Functional Setup

4. Post IFRS 15 Project Contract Accounting Model
Confidential – Oracle Restricted