Long description for image: 17172-19-eng.gif

This figure depicts the Level 1 process flow for common financial management business processes, using six chevrons placed in three layers.

The top layer is a chevron labeled Planning, Budgeting and Forecasting Results and Performance Reports.

The centre layer is a row of four chevrons, each representing subsequent steps of the high-level financial management business process. The four steps are Need Identification, Obligation, Performance, Validation and Certification, and Payment. These four steps are further explained in two views-one from the Revenue perspective, the other from the Expenditure perspective.

From the Revenue perspective:

• Need Identification is indicated by the Request;
• Obligation is the Recognition of the Obligation;
• Performance, Validation and Certification is indicated by the Invoice; and
• Payment is indicated by the Deposit.

From the Expenditure perspective:

• Need Identification is indicated by Expenditure Initiation;
• Obligation is the Recognition of the Obligation;
• Performance, Validation and Certification is indicated by Section 34 of the FAA; and
• Payment is indicated by Section 33 of the FAA.

The bottom layer is a chevron labeled Master Data, Integration, Control and Monitoring.

Return to the Complete Text