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Purchase-to-pay, often abbreviated to P2P and also called Procure-to-Pay and req to check/cheque, refers to the business processes that cover activities of requesting (requisitioning), purchasing, receiving, paying for and accounting for goods and services. Most organisations have a formal process and specialist staff to control this activity ...
Procure-to-pay systems are designed to provide organizations with control and visibility over the entire life-cycle of a transaction, providing full insight into cash-flow and financial commitments. Most of the companies using these systems look for a centralization of their procurement department, or to set up a shared services organization ...
Pages in category "Accounting terminology" The following 98 pages are in this category, out of 98 total. This list may not reflect recent changes. 0–9. 80:125 rule; A.
A competency dictionary is a tool or data structure that includes all or most of the general competencies needed to cover all job families and competencies that are core or common to all jobs within an organization (e.g., teamwork; adaptability; communication).
BAU – Business as usual; BEP – Break-even point; BI – Business intelligence; BIC – Bank identifier code; bldg. – Building BLS – Balance sheet; BOM – Bill of materials; BPO – Business process outsourcing
In government finance, a warrant is a written order to pay that instructs a federal, state, or county government treasurer to pay the warrant holder on demand or after a specific date. Such warrants look like checks and clear through the banking system like checks, but are not drawn against cleared funds in a checking account (demand deposit ...
The CGMA Competency Framework was also launched in 2014. The framework shows the range of technical, accounting and finance skills that management accountants need to do their jobs and consists of four knowledge areas: Technical Skills, Business Skills, People Skills and Leadership Skills, all underpinned by Ethics, Integrity and Professionalism.
Order to cash (OTC or O2C) normally refers to one of the top-level (context level) business processes for receiving and processing customer orders and revenue recognition. . Order to cash is an essential function in finance; the entire cycle of events happens after a customer places an order until the customer pays for the order; that is, the order is converted to c