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June 6, 2016 06:00 pm

Oracle Whistleblower Suit Raises Questions Over Cloud Accounting

Svetlana Blackburn, a former senior finance manager for Oracle claims that the company has fired her for not "inflating" revenues in its cloud services division. She alleges that her bosses had instructed her to add "millions of dollars of accruals" for expected business "with no concrete or foreseeable billing to support the numbers." Oracle eventually inflated the numbers without her assistance, anyway, she adds. From NBC News report: The lawsuit, filed on Wednesday in U.S. District Court in San Francisco by former Oracle senior finance manager Svetlana Blackburn, also revives longstanding questions about proper accounting when software and computer services are bought on a subscription basis rather than as a single package, analysts said. Those questions are becoming more urgent as companies including Oracle, IBM, Microsoft and SAP race to transform their businesses for an era in which customers no longer own and operate their own information technology systems and instead lease computing services and software from cloud vendors using vast data centers.A spokesperson for Oracle says that Blackburn's claims are wrong, adding, "We are confident that all our cloud accounting is proper and correct."

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