4.1.3 Business Term Description

A Business Term Description provides a fundamental explanation of a Business Term, offering a base definition that remains consistent and relevant across all contexts. It outlines the term's core purpose and meaning, ensuring clarity and uniformity in its understanding and application. This description serves as a common reference for stakeholders, connecting technical and business perspectives while remaining independent of specific implementations or use cases. For example, End of Period Balance could be defined as the account balance at the end of a reporting period, reflecting a snapshot of financial standing. By delivering a universal and context-neutral definition, the Business Term Description promotes clear communication, traceability, and alignment with business objectives across various systems and processes.