Contracts and Project Costing Enhancements to support FASB ASC 606 Requirements

The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued new revenue accounting standards in May 2014 with an effective date of 2017. PeopleSoft is making significant enhancements in Contracts and Project Costing to support these changes. You can learn more about what we are doing through the following resources:

• PeopleSoft Apps Strategy blog posting: Separating Billing and Revenue in Support of the New Revenue Accounting Standard
• PeopleSoft FSCM Red Paper - ESA - Separating Revenue from Billing 9.2 (FMS/ESA PUM10) (Doc ID 1948348.1)

As we continue to release enhancements and develop new informational materials, we will notify this community through additional postings.