Module 1: Introduction to Oracle Project Accounting

• Overview of Oracle Projects:
  • Introduction to Oracle Projects suite and its modules (Project Management, Project Costing, Project Billing, etc.).
  • Benefits of Oracle Project Accounting in managing project finances.
  • Integration with other Oracle E-Business Suite modules like Oracle Financials, Inventory, Purchasing, and Human Resources.
• Understanding Project Types:
  • Different types of projects (capital, expense, internal, etc.).
  • Project templates, project structures, and their configurations.

Module 2: Setting Up Oracle Project Accounting

• Basic Setup:
  • Defining project categories, types, and templates.
  • Setting up project attributes such as costing, billing, and financial reporting options.
  • Configure project codes and work breakdown structures (WBS).
• Project Control Setup:
  • Defining project financial structures and thresholds.
  • Setting up project budgets and cost structures.
• Defining Project Costing Setup:
  • Understanding project cost definitions and cost allocation rules.
  • Creating cost elements and cost categories.

Module 3: Managing Project Budgets and Forecasting

• Creating and Maintaining Budgets:
  • Setting up and managing project budgets at various levels (project, task, resource).
  • Budget versioning and updates.
• Forecasting Project Costs and Revenues:
  • Using forecasting tools to predict costs, revenues, and profitability.
  • Integrating project forecasts with financial systems.

Module 4: Project Costing and Financial Transactions

• Managing Project Costs:
  • Recording direct and indirect project costs.
  • Integration with Oracle Purchasing and Oracle Inventory for material and service costs.
• Cost Allocation and Transfers:
  • Cost allocation methods (e.g., percentage allocation, direct charges).
  • Handling intercompany transactions and cost transfers.
• Handling Project Resources:
  • Managing labor, materials, and expenses as part of project costs.
  • Integrating with Oracle HR for labor costs and Oracle Payroll for resource management.

Module 5: Revenue Recognition and Billing

• Revenue Recognition Methods:

  • Different methods of recognizing project revenue (e.g., percentage of completion, milestone-based, time & materials).
  • Defining revenue recognition rules for projects and tasks.

• Billing Setup and Scheduling:

  • Configuring project billing methods (fixed price, time & materials, milestone).
  • Creating billing cycles and generating invoices based on work completion.

• Invoicing and Payments:

  • Generating and reviewing project invoices.
  • Managing client payments and ensuring billing accuracy.

Module 6: Project Financial Reporting

• Standard Project Accounting Reports:
  • Generating key reports such as budget vs. actuals, cost breakdowns, and profitability analysis.
  • Using Oracle BI (Business Intelligence) for advanced financial reporting and analytics.
• Financial Review and Analysis:
  • Analyzing project profitability and financial health.
  • Reviewing project costs, revenues, and margins.
• Reporting Tools:
  • Customizing project financial reports.
  • Overview of pre-built reports and dashboards.

Module 7: Project Billing and Revenue Adjustments

• Managing Billing Cycles:
  • Overview of time-based, milestone-based, and fixed-price billing setups.
  • Handling project milestones and progress billing.
• Adjustments and Credit Memos:
  • Processing billing adjustments, credit memos, and corrections for over/under billing.
• Revenue Adjustments:
  • Managing revenue adjustments in accordance with changes in project scope or contracts.

Module 8: Project Accounting Integration with Other Modules

• Integration with General Ledger:
  • Understanding how project costs and revenues are transferred to the Oracle General Ledger.
  • Project journals and their impact on accounting entries.
• Integration with Purchasing and Inventory:
  • Linking project costs with Oracle Purchasing for materials and services.
  • Integration with Oracle Inventory for tracking material usage and inventory adjustments.
• Integration with Human Resources:
  • Managing labor costs through integration with Oracle HR and Oracle Payroll.

Module 9: Advanced Project Accounting Features

• Cost Management and Control:
  • Techniques for cost control, managing variances, and ensuring projects stay within budget.
• Multi-Currency and Global Projects:
  • Handling multi-currency transactions and adjustments.
  • Managing global projects and intercompany transactions.
• Project Forecasting and Analysis:
  • Advanced forecasting methods for project costs, revenues, and margins.

Module 10: Compliance, Auditing, and Closing Projects

• Compliance and Regulatory Reporting:
  • Ensuring compliance with accounting standards (e.g., GAAP, IFRS).
  • Automating financial audits and tracking project financials.
• Project Closeout and Final Billing:
  • Steps to formally close a project and complete final billing.
  • Archiving project records for future reference and compliance.