Glossary

Beginning of Day

This is the automatic processes initiated in the system at the beginning of each business day, as part of the AEOD. The system date change is executed and the change authorized, and the system is in readiness to accept transaction input for the day.

End of Day

This is the last stage of AEOD processing in the system at the end of each business day, which indicates that all activities are complete for the business day. Any further activities in the system can only begin after the Beginning of Day stage, when the system date is changed to the next working day.

Event

This represents each of the different stages in the processing life-cycle of a contract.

FATCA

FATCA is the acronym for Foreign Account Tax Compliance Act enacted by the US Government as part of the Hiring Incentives to Restore Employment (HIRE) Act, in 2010.The purpose of FATCA is to help Internal Revenue Service (IRS) to identify and collect tax from US Persons (USP) holding financial assets outside US.

FCY

This is a foreign currency in which record of the profit and loss entries posted to a GL can be maintained.

MIS Head

An MIS Head indicates the manner in which the type of entry should be considered for profitability reporting purposes.