Control account: Difference between revisions

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<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].
<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 that span four rows, with
# <strong>Opening balance</strong>. This picks up the closing balance from the previous period.
* <strong>opening balance</strong> picking up the closing balance from the previous period;
# <strong>Additions</strong>. This picks up the values within the period that tend to increase the balance - for example deposits into a bank account.
* <strong>additions</strong> picking up the values within the period that tend to increase the balance;
# <strong>Reductions</strong>. This picks up the values within the period that tend to reduce the balance - for example withdrawals from a bank account.
* <strong>reductions</strong> picking up the values within the period that tend to reduce the balance; and
# <strong>Closing balance</strong>. This is calculated based on the opening balance, additions and reductions.
* <strong>closing balance</strong> calculated based on the opening balance, additions and reductions.
 
For example:
 
<div style='text-align: center;'><iframe key="WhiteBoxFinancialLB" path="509&authkey=%21AOICh9VlafB-IBo&em=2&AllowTyping=True&ActiveCell='Example'!F10&Item=ControlAccount&wdHideGridlines=True&wdDownloadButton=True&wdInConfigurator=True" height="187" width="1000"></iframe></div>

Revision as of 15:11, 21 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 that span four rows, with

  • opening balance picking up the closing balance from the previous period;
  • additions picking up the values within the period that tend to increase the balance;
  • reductions picking up the values within the period that tend to reduce the balance; and
  • closing balance calculated based on the opening balance, additions and reductions.

For example:

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