Financial analytics Definitions

  • B

    budgeting, planning and forecasting (BP&F)

    Budgeting, planning and forecasting (BP&F) is a three-step process for determining and detailing an organization's financial goals for both the long- and short-term.

  • E

    EDGAR

    EDGAR (Electronic Data Gathering, Analysis, and Retrieval) is an online public database from the U.S. Securities and Exchange Commission (SEC).

  • EDIFACT

    EDIFACT (ISO 9735) is the international standard for electronic data interchange (EDI).

  • F

    financial consolidation

    Financial consolidation is the process of combining financial data from several departments or business entities within an organization, usually for reporting purposes. 

  • financial controller

    A financial controller, also referred to as financial comptroller, is a senior-level executive who usually reports to an organization's chief financial officer (CFO).

  • financial data management

    Financial data management (FDM) is a process and policy, usually assisted by specialized software, that allows an enterprise or institution to consolidate its financial information, maintain compliance with accounting rules and laws, and produce detailed financial reports.

  • financial modeling

    Financial modeling is the construction of spreadsheet models that illustrate a company's likely financial results in quantitative terms. Financial models can simulate the effect of specific variables so that the company can plan a course of action should they occur.

  • financial planning and analysis (FP&A)

    Financial planning and analysis (FP&A) is the budgeting, forecasting and analytical processes that support an organization's financial health and business strategy.

  • financial reporting

    Financial reporting is the process of producing the reports, called statements, that disclose an organization's financial status to management, investors and the U.S. federal government.

  • I

    ISAE 3402

    ISAE (International Standards for Assurance Engagements) 3402 is a global assurance standard for reporting on controls at service organizations.

  • L

    last mile of finance (LMOF)

    The last mile of finance is composed of the management processes that finance executives perform after the monthly, quarterly or annual close to prepare for financial reporting and disclosure. 

  • P

    profitability analysis

    Profitability analysis is a component of enterprise resource planning (ERP) that allows administrators to forecast the profitability of a proposal or optimize the profitability of an existing project.

  • R

    revenue recognition

    Revenue recognition is a tenet of corporate financial management that defines when a company officially accounts for revenue.

  • S

    supply chain finance

    Supply chain finance is a set of technology-enabled business and financial processes that provides flexible payment options for a buyer (such as a manufacturer) and one of their suppliers (for example, a raw materials supplier), typically through the services of a financial institution at lower financing costs.

  • W

    working capital

    Working capital is the difference between a business's current assets and current liabilities.

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