Cross-Functional

Cross-Functional What Is Intercompany Elimination (Technical)? Intercompany elimination is the consolidation process that removes balances and transactions between entities in the same group, such as intercompany sales, receivables,… Technical Cross-Functional What Is an Intercompany Transaction? An intercompany transaction is a transaction between two entities in the same corporate group, such as sales of goods, management fees, shared… Business Cross-Functional What Is Internal Controls? Internal controls are the policies, procedures, system configurations and oversight activities an enterprise uses to ensure reliable financial reporting, safeguard assets, prevent… Business Cross-Functional What Is a Journal Entry? A journal entry is the basic record of double-entry accounting that debits and credits one or more accounts by equal amounts to… Business Cross-Functional What Is Management Accounts? Management accounts are periodic internal financial reports, usually monthly, prepared for executives, boards and business unit heads, combining the profit and loss… Business Cross-Functional What Is a Master Data Governance Framework? A master data governance framework is the combination of policies, named owners, approval workflows and technical controls that govern how shared reference… Technical Cross-Functional What Is Minority Interest? Minority interest, called non-controlling interest (NCI) under IFRS, is the share of a consolidated subsidiary's equity and profit that belongs to shareholders… Business Cross-Functional What Is Month-End Close? Month-end close is the recurring process of finalising an enterprise's accounting records for each calendar or fiscal month, covering cut-off, accruals, account… Business Cross-Functional What Is Multi-GAAP Reporting Architecture? Multi-GAAP reporting architecture is the design of ledgers, data models and EPM consolidation rules that lets one enterprise produce statements under several… Technical Cross-Functional What Is Operating Expenditure (OPEX)? Operating expenditure (OPEX) is the recurring cost of running a business in its normal course, such as salaries, rent, utilities, software subscriptions,… Business Cross-Functional What Is a Profit Centre? A profit centre is an organisational unit, such as a business unit, product line, region or customer segment, that is accountable for… Business Cross-Functional What Is Reconciliation Architecture? Reconciliation architecture is the designed set of automated matching controls, tolerance thresholds, exception workflows and sign-offs placed at each integration boundary, from… Technical Cross-Functional What Is a Rolling Budget? A rolling budget, usually implemented as a rolling forecast, keeps a constant forward planning horizon, such as twelve or eighteen months, by… Business Cross-Functional What Is Segregation of Duties? Segregation of duties (SoD) is the internal control principle of dividing the steps of a high-risk process, such as creating a vendor,… Business Cross-Functional What Is Statutory Reporting? Statutory reporting is the preparation and submission of financial statements, tax returns and regulatory disclosures required by law or regulation, such as… Business