Difference between revisions of "FA"

m (ORwiki moved page Discuss Contract Custom Solution to Discuss Finance & Accounting without leaving a redirect)
(No difference)

Revision as of 15:53, 22 July 2017


We are looking for volunteers to start this framework. We have lots of ideas but need experts like you to get started. Contact us


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