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Business Area

An organizational unit that requires audited financial statements for external use. Often this corresponds to a separate operational or responsibility area in the organization at the highest level.


Chart of Accounts

A chart of accounts provides a framework for the recording of values to ensure an orderly rendering of accounting data. The chart of accounts is the operative chart of accounts and is used in both financial accounting and cost accounting.

Client

In commercial, organizational and technical terms, a self-contained unit in an SAP R/3 System with separate master records and its own set of tables.

Commitment Item

Commitment Items represent budget classifications of revenues and expenditures in the Funds Management Module. Commitment items are linked to the GL account in FI and the revenue and cost elements in CO. With this linkage, transactions posted to the GL account or revenue or cost elements are automatically posted to FM. Commitment items can also be arranged in a multi-level hierarchy where the top nodes are defined for reporting and/or controlling levels.


Company Code

The highest organizational unit of financial accounting for which a complete self-contained set of accounts can be drawn up for purposes of external reporting. The University will utilize a single company code (UK00).