Control account: Difference between revisions
Jump to navigation
Jump to search
(Created page with "<strong>Control accounts</strong> can be used to keep track of balances. They are also referred to as <strong>running balances</strong>, <strong>corkscrews</strong>, and <strong>roll-forward calculations</strong>. A control account is a special case of a cascade. A common implementation span four rows in the following order: # <strong>Opening balance</strong>. This picks up the closing balance from the previous period. # <strong>Additions</strong>. This picks up the val...") |
mNo edit summary |
||
| Line 1: | Line 1: | ||
<strong>Control accounts</strong> can be used to keep track of balances. They are also referred to as <strong>running balances</strong>, <strong>corkscrews</strong>, and <strong>roll-forward calculations</strong>. A control account is a special case of a cascade. | <strong>Control accounts</strong> can be used to keep track of balances. They are also referred to as <strong>running balances</strong>, <strong>corkscrews</strong>, and <strong>roll-forward calculations</strong>. A control account is a special case of a [https://finmod.wiki/wiki/index.php/Cascade cascade]. | ||
A common implementation span four rows in the following order: | A common implementation span four rows in the following order: | ||
Revision as of 17:26, 17 December 2021
Control accounts can be used to keep track of balances. They are also referred to as running balances, corkscrews, and roll-forward calculations. A control account is a special case of a cascade.
A common implementation span four rows in the following order:
- Opening balance. This picks up the closing balance from the previous period.
- Additions. This picks up the values within the period that tend to increase the balance - for example deposits into a bank account.
- Reductions. This picks up the values within the period that tend to reduce the balance - for example withdrawals from a bank account.
- Closing balance. This is calculated based on the opening balance, additions and reductions.