BRM Support for IFRS 15 Reporting Standard
(Doc ID 2396357.1)
Last updated on AUGUST 17, 2020
Applies to:Oracle Communications Billing and Revenue Management - Version 18.104.22.168.0 to 22.214.171.124.0 [Release 12.0.0]
Information in this document applies to any platform.
On Oracle Communications Billing and Revenue Management (BRM) version 7.5.0 patchset 19, the current General Ledger (GL) summary or GL detailed reports of BRM are not subscription based thus BRM customers are unable to meet International Financial Reporting Standard (IFRS) 15 requirements.
Per IFRS guidelines, revenue is recognized by:
- Identify the contract with a customer
- Identify all the individual performance obligations within the contract
- Determine the transaction price
- Allocate the price to the performance obligations
- Recognize revenue as the performance obligations are fulfilled
To meet this requirement, BRM customers seek to have a GL summary report not segment based but rather subscription based e.g. subscription level charge details rolled up by unique GL ID, by bill cycle in a Monthly report.
Are there any plans to enhance BRM GL reports to enable BRM Customers to meet IFRS 15 reporting standards.
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