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
- 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
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