Actions

FA

Finance & Accounting

Finance & Accounting

The management and operation of all activities related to recording financials and financial reporting
This page needs to be updated. Please participate in the discussion at the Finance & Accounting Discussion Page.

Finance & Accounting

The Finance & Accounting framework describes the function or Domain that analyzes, strategizes, and develops financial models for future growth and expenditures ('Financial Management') and performs the day-to-day financial record keeping and financial reporting ('Financial Accounting & Reporting').

Metrics

Accounting & Reporting

The daily activities performed by the Accounting function are grouped in the following groups:

  • Record - Posting financial entries based on business transactions.
  • Close - Balancing and closing sub-ledgers and the general ledger for the past period.
  • Consolidate - Combining operational and financial results of affiliated business units and/or companies in order to produce aggregated and complete results and reports.
  • Report - Generating, reviewing and publishing of consolidated financial statements. Once reviewed and approved reports are submitted to stakeholders and regulatory agencies.
  • Audit

The four key Finance & Accounting reports are: Statement of Financial Position, Statement of Comprehensive Income, Statement of Comprehensive Income and Statement of Changes in Equity

Terms

Search Our Complete List of processes, metrics, practices and terms relevant to Finance & Accounting.

Notes

This content is under development.

Finance & Accounting {{{level}}}
"{{{level}}}" is not a number.
Finance, Accounting, Reporting, Record-to-Report, Balance Sheet, Income Statement, Equity The management and operation of all activities related to recording financials and financial reporting