Service Start Date as Initial Performance Event

The service start date can be used as an Initial Performance Event, in accordance with ASC 606 and IFRS 15 standards.

Organizations can now record right-to-bill entries for service-related performance obligations on the actual service commencement date, rather than waiting for billing or satisfaction events.

With this enhancement, users can populate the new Initial Performance Event date attribute with the service start date, or any other representative date, designating it as the event date. The system determines the accrual date by identifying the earliest of the Initial Performance Event date, billing event, or satisfaction event across all relevant promises within the performance obligation.

Revenue Data Import Template - FBDI

The Revenue Data Import Template for loading third-party data has been updated to include a new date attribute, Initial Performance Event Date, within the VRM_SOURCE_DOC_LINES tab. This enhancement allows users to specify any date for recording the performance obligation’s accrual entry on the balance sheet.

Edit Customer Contract Page

The Line Reference Details tab that displays order and service line information, has been updated to include the Initial Performance Event Date attribute for each line. Any changes to this date are also captured and displayed within the tab.

During processing, the application evaluates the interfaced Initial Performance Event date, billing, and satisfaction events and selects the earliest of these dates to determine the accrual entry date. In this example, the Initial Performance Event date was set to the service plan start date, October 4, 2025, which was the earliest date for the lines within the performance obligation and was used as the accrual date.

Contract Activity Detail

The business benefit of this feature ensures compliance with accounting standards by allowing accrual recognition when one party acts, such as at service commencement. It reduces manual effort, improves financial reporting accuracy, and delivers greater operational and regulatory alignment for Oracle Subscription Management and Revenue Management customers.