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| Topic: |
Business
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| Number of pages / Number of words: |
8 / 2201 |
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The accrual process consists of identifying, approving, and posting in SAP the company's expenditures which must be accrued at fiscal month-end in order to recognize the expenditures in the appropriate accounting period. This process applies to all base operations, maintenance, and administration (OM&A), project OM&A, and capital and minor fixed assets...
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If the accruals are not processed in a timely manner, then significant variances in various project and financial reports are likely.
The second part of the process which has the potential to interfere with the accuracy of project and financial reports are the reversal of the above mentioned accruals post month-end procedures...
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