Revision as of 14:53, 22 July 2017
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Processes
We recognize 4 types of financial & accounting processes:
- Recording transactions - These are mostly transacted following business activities: e.g. generating an invoice resulting in a financial booking in accounts receivables.
- Recording journal entries for accounting purposes - These are driven by consolidation and closing activities: E.g. Monthly valuation of stocks.
- Reporting - the consolidation of financial information for the purpose of financial analysis and management reporting
- Auditing - the validating of accuracy of information for the purpose of error correction and fraud prevention.
Additionally we recognize the need for financial planning:
- Budgetting
- Cashflow planning
Please add further process groupings or add definition to the existing