Forecasting and Costing Terminology#


[A]#


Assumption
A statement of change to a set budget seats for a period of time.

[B]#


Budget
A fiscal forecast for an organization or part of an organization over a specified time frame.
Budget Area
A sub-division of an organization that participates in the budget process; this could be the entire entity, units, groups, departments, auth areas, or org levels.
Budget Area Owner
A person responsible for a portion of the total budget; a budget area owner prepares budget scenarios within a budget area using certain assumptions.
Budget Owner
The person responsible for the total budget; the budget owner prepares the budget plans, provides global budget assumptions and reviews various budget scenarios.
Budget Participant
A person responsible for assisting in the preparation of a budget.
Budget Plan
A choice of scenarios, one from each budget area, that makes up the total budget.
Budget Seat
An assignment, position or part of a position that incurs costs.

[C]#


Cost Account
A financial or statistical amount that is derived from a set of pay components or distribution
masks.
Coast Area
An area of the organization that incurs costs, this may be units, groups, departments, auth areas, org levels, positions, jobs, locations, distribution segments, or budget seats.

[D]#


Department Manager
A person responsible for managing people and who is accountable for the labor costs in a business unit.

[E]#


No Terminology

[F]#


Financial Analyst
A person who reviews the outcome of a budget projection from various viewpoints.
Forecast
A look into the future to predict an organization’s pay components.
Forecaster
A person responsible for running the process that forecasts amounts.

[G]#


No Terminology

[H]#


No Terminology

[I]#


No Terminology

[J]#


No Terminology

[K]#


No Terminology

[L]#


No Terminology

[M]#


No Terminology

[N]#


No Terminology

[O]#


No Terminology

[P]#


No Terminology

[Q]#


No Terminology

[R]#


No Terminology

[S]#


Scenario
One iteration of the budget process within a budget area using a set of assumptions.

[T]#


No Terminology

[U]#


No Terminology

[V]#


Viewpoint
A way of looking at derived financial information.

[W]#


No Terminology

[X]#


No Terminology

[Y]#


No Terminology

[Z]#


No Terminology


Notes #

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