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Record To Report
Record to report or R2R is a Finance and Accounting (F&A) management process which involves collecting, processing and delivering relevant, timely and accurate information used for providing strategic, financial and operational feedback to understand how a business is performing. It also covers the steps involved in preparing and reporting the overall accounts which are typically stored in a general or nominal ledger and managed by a controller. The detailed steps involved are: * data extraction * data collection * data validation * data transformation (generation of voucher) * voucher posting (to general ledger) * storing vouchers in de-normalized and compressed format * generating analysis account trial balance or consolidated analysis account trial balance * generating user-defined financial and management reports In general the Record to Report function is not engaged in processing transactions, but rather the aggregation of existing data in computer systems to enable me ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Order To Cash
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. Other top-level business processes include "Marketing to Lead", "Opportunity to Order", "Procure-to-Pay" (P2P), "Issue to Complete" (for manufacturing production) "Hire to Retire", "Concept to Launch" (for innovation and new product development), "Sustain and Retain" (for customer service and support) and " Record to Report" for general ledger processes. Recently, the concept of order-to-cash has been extended to "Lead to Cash" by many software providers to include also the marketing and pre-sales process steps. The context level processes are utilized in a number of ways by businesses such as business process reengineering, aligning enterprise architectures and IT solutions as well as "blueprinting" as part of Enterprise Resource Planning (ERP) systems. In many business models, a contractual relationship is estab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Controller
A comptroller (pronounced either the same as ''controller'' or as ) is a management-level position responsible for supervising the quality of accounting and financial reporting of an organization. A financial comptroller is a senior-level executive who acts as the head of accounting, and oversees the preparation of financial reports, such as balance sheets and income statements. In most Commonwealth countries, the comptroller general, auditor general, or comptroller and auditor general is the external auditor of the budget execution of the government and of government-owned companies. Typically, the independent institution headed by the comptroller general is a member of the International Organization of Supreme Audit Institutions. In American government, the comptroller is effectively the chief financial officer of a public body. In business management, the comptroller is closer to a chief audit executive, holding a senior role in internal audit functions. Generally, the title ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Wiley & Sons
John Wiley & Sons, Inc., commonly known as Wiley (), is an American multinational publishing company founded in 1807 that focuses on academic publishing and instructional materials. The company produces books, journals, and encyclopedias, in print and electronically, as well as online products and services, training materials, and educational materials for undergraduate, graduate, and continuing education students. History The company was established in 1807 when Charles Wiley opened a print shop in Manhattan. The company was the publisher of 19th century American literary figures like James Fenimore Cooper, Washington Irving, Herman Melville, and Edgar Allan Poe, as well as of legal, religious, and other non-fiction titles. The firm took its current name in 1865. Wiley later shifted its focus to scientific, technical, and engineering subject areas, abandoning its literary interests. Wiley's son John (born in Flatbush, New York, October 4, 1808; died in East Orange, New Je ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Data Extraction
Data extraction is the act or process of retrieving data out of (usually unstructured or poorly structured) data sources for further data processing or data storage (data migration). The import into the intermediate extracting system is thus usually followed by data transformation and possibly the addition of metadata prior to export to another stage in the data workflow. Usually, the term data extraction is applied when (experimental) data is first imported into a computer from primary sources, like measuring or recording devices. Today's electronic devices will usually present an electrical connector (e.g. USB) through which 'raw data' can be streamed into a personal computer. Data sources Typical unstructured data sources include web pages, emails, documents, PDFs, scanned text, mainframe reports, spool files, classifieds, etc. which is further used for sales or marketing leads. Extracting data from these unstructured sources has grown into a considerable technical challenge w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Data Collection
Data collection or data gathering is the process of gathering and measuring information on targeted variables in an established system, which then enables one to answer relevant questions and evaluate outcomes. Data collection is a research component in all study fields, including physical science, physical and social sciences, humanities, and business. While methods vary by discipline, the emphasis on ensuring accurate and honest collection remains the same. The goal for all data collection is to capture quality evidence that allows analysis to lead to the formulation of convincing and credible answers to the questions that have been posed. Data collection and validation consists of four steps when it involves taking a census and seven steps when it involves sampling. Regardless of the field of or preference for defining data (Quantitative method, quantitative or Qualitative method, qualitative), accurate data collection is essential to maintain research integrity. The selectio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Data Validation
In computer science, data validation is the process of ensuring data has undergone data cleansing to ensure they have data quality, that is, that they are both correct and useful. It uses routines, often called "validation rules", "validation constraints", or "check routines", that check for correctness, meaningfulness, and security of data that are input to the system. The rules may be implemented through the automated facilities of a data dictionary, or by the inclusion of explicit application program validation logic of the computer and its application. This is distinct from formal verification, which attempts to prove or disprove the correctness of algorithms for implementing a specification or property. Overview Data validation is intended to provide certain well-defined guarantees for fitness and consistency of data in an application or automated system. Data validation rules can be defined and designed using various methodologies, and be deployed in various contexts. Thei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Data Transformation
In computing, data transformation is the process of converting data from one format or structure into another format or structure. It is a fundamental aspect of most data integrationCIO.com. Agile Comes to Data Integration. Retrieved from: https://www.cio.com/article/2378615/data-management/agile-comes-to-data-integration.html and data management tasks such as data wrangling, data warehousing, data integration and application integration. Data transformation can be simple or complex based on the required changes to the data between the source (initial) data and the target (final) data. Data transformation is typically performed via a mixture of manual and automated steps.DataXFormer. Morcos, Abedjan, Ilyas, Ouzzani, Papotti, Stonebraker. An interactive data transformation tool. Retrieved from: http://livinglab.mit.edu/wp-content/uploads/2015/12/DataXFormer-An-Interactive-Data-Transformation-Tool.pdf Tools and technologies used for data transformation can vary widely based on the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Key Performance Indicator
A performance indicator or key performance indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages. KPIs provide a focus for strategic and operational improvement, create an analytical basis for decision making and help focus attention on what matters most. Often success is simply the repeated, periodic achievement of some levels of operational goal (e.g. zero defects, 10/10 customer satisfaction), and sometimes success is defined in terms of making progress toward strategic goals. Accordingly, choosing the right KPIs relies upon a good understanding of what is important to the organization. What is deemed important often depends on the department measuring the performance – e.g. the KPIs useful to finance will differ from the KPIs assigned to sales. Since there is a need to understand well what is important, various techniques ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gartner
Gartner, Inc is a technological research and consulting firm based in Stamford, Connecticut that conducts research on technology and shares this research both through private consulting as well as executive programs and conferences. Its clients include large corporations, government agencies, technology companies, and investment firms. In 2018, the company reported that its client base consisted of over 12,000 organizations in over 100 countries. As of 2022, Gartner has over 15,000 employees located in over 100 offices worldwide. It is a member of the S&P 500. History Gideon Gartner founded Gartner, Inc in 1979. Originally private, the company launched publicly as Gartner Group in 1986 before Saatchi & Saatchi acquired it in 1988. In 1990, Gartner Group was acquired by some of its executives, including Gartner himself, with funding from Bain Capital and Dun & Bradstreet. The company went public again in 1993. In 2000, the name was simplified from ''Gartner Group'' to Gartn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Procure-to-pay
Procure-to-pay (also known as Purchase to Pay (P2P)) is a term used in the software industry to designate a specific subdivision of the procurement process. The P2P systems enable the integration of the purchasing department with the accounts payable (AP) department. Some of the largest players of the software industry agree on a common definition of procure-to-pay, linking the procurement process and financial department. The steps usually included are: *Supply management *Cart or requisition *Purchase order *Receiving *Invoice reconciliation *Accounts payable Unlike source-to-pay systems, procure-to-pay systems do not include the function of sourcing. Also, notions of production planning and forecasting are excluded from this definition since it relates to the supply chain management. Benefits 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 finan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Asset
A fixed asset, also known as long-lived assets or property, plant and equipment (PP&E), is a term used in accounting for assets and property that may not easily be converted into cash. Fixed assets are different from current assets, such as cash or bank accounts, because the latter are liquid assets. In most cases, only tangible assets are referred to as fixed. While IAS 16 (International Accounting Standard) does not define the term "Fixed Asset", it is often colloquially considered a synonym for property, plant and equipment. According to IAS 16.6, property, plant and equipment are tangible items that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes and (b) are expected to be used during more than one period." Fixed assets are one of two types: * "Freehold Assets" – assets which are purchased with legal right of ownership and used, and * "Leasehold Assets" – assets used by owner without legal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
