Glossary

The Financial Accounting Standards Board (FASB) establishes financial accounting and reporting standards for public companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP).

• Provide specialized functionality and are used to identify the intended usage of your natural account values to facilitate automation and enable completion of other required set up objects.
• Automatically generate fully defined initial Financial Reporting reports and Account Groups based on the enterprise structure. Examples:
  • Asset - Accounts Receivable: For receivables receipt methods
  • Liability - Accounts Payable: For Payable common options
  • Net Position - Net Position: For GL ledger options
  • Revenue - Top Revenue Parent Account: For sample reports & account groups
  • Expense - Top Operating Expenses Parent Accounts: For sample reports & account groups

A model developed by Prosci® to describe the elements needed for an individual to successfully move through change.
The acronym ADKAR stands for:
A – Awareness
D – Desire
K – Knowledge
A – Ability
R – Reinforcement

The project name for the Business Transformation initiative, as well as the system name for Oracle implementation on campus.

Audited financial statements are those required by a third party, independent certified public accountant or firm. The three financial statements include:

• Statement of Net Position (SNP)
• Statement of Revenues, Expenses and Changes in Net Position (SRECNP)
• Statement of Cash Flows, including both the direct and indirect method

When a CoA segment is configured as a “balancing segment” in the Oracle system, it means that the system will automatically create due to/ due from transactions between segments so that those segments are always in balance.

UC Davis has configured the Entity and Fund segments as balancing segments, ensuring that debit transactions match with credit transactions, & facilitating financial statement reporting.

Boundary Applications are any application or system that interfaces with our current Kuali system and/or will interface with the future Oracle Cloud Services. Whether the interface is coming into (upstream) or going out of (downstream) the system, the incoming or outgoing data crosses the “boundaries” of KFS and/or Oracle.

More than 70 applications are expected to interface with Oracle as boundary systems, and will be modified to align with the new UC Davis Chart of Accounts structure.

Carryfoward in a particular fiscal year represents the net position from the prior fiscal year.

The Common Chart of Accounts (CCoA) is the systemwide chart structure developed by UCOP to establish consistency in the UC accounting system and practices. The segment definitions and values in the CCoA provide a framework for each UC campus to develop their local Chart of Accounts.

A change champion is an individual who clearly sees the vision for the change and takes an active role in moving the change forward.   Change champions advocate for the change, and are key to realizing successful outcomes.  They can be from any level within the organization.

The combination of chart segment values for recording financial transactions.

See Posting Level

The various services available in the Oracle financial system.

The Chart of Accounts (CoA) is the basic structure that UC Davis, comprised of defined segments and values to provide the foundation for recording and reporting financial transactions at UC Davis. It creates a common language for financial information. 

The new UC Davis CoA replaces the current Full Accounting Unit (FAU). It aligns UC Davis with the CCoA structure required by UCOP and also serves as the foundation for Oracle Cloud Financials implementation.

CoA is also a work stream under the Aggie Enterprise initiative.

(Natural) Account is a segment of the new UC Davis Chart of Accounts. During the Aggie Enterprise initiative, the use of the word "Natural" will help distinguish between the new CoA Account segment and the former FAU Account. The approved definition for (Natural) Account is:
The Account segment classifies the nature of the transaction as a specific type of revenue, expense, asset, liability or net position.

Visit the CoA Segment Design and Definitions webpage for more information, including micro-learning videos and supplemental resources.

Activity is a segment of the new UC Davis Chart of Accounts. The approved definition for Activity is:
The Activity segment will track significant transactions which are recurring and take place at a point in time.

Visit the CoA Segment Design and Definitions webpage for more information, including micro-learning videos and supplemental resources.

Entity is a segment of the new UC Davis Chart of Accounts. The approved definition for Entity is:
The Entity segment identifies a major organizational unit within the UC system. The Entity is responsible for all of the financial activities and results of all Financial Departments, Programs, Projects, and Activities within the Entity’s hierarchy.

Visit the CoA Segment Design and Definitions webpage for more information, including micro-learning videos and supplemental resources.

Financial Department is a segment of the new UC Davis Chart of Accounts. The approved definition for Financial Department is:
The Financial Department segment represents an academic or operating unit identified with an ongoing business objective, aligned with the UC Davis organization structure.

Visit the CoA Segment Design and Definitions webpage for more information, including micro-learning videos and supplemental resources.

Fund is a segment of the new UC Davis Chart of Accounts. The approved definition for Fund is:
The Fund segment identifies funding resources. These resources, or “pots of money” are classified based on designations and restriction types. This classification also supports external reporting of net position.

Visit the CoA Segment Design and Definitions webpage for more information, including micro-learning videos and supplemental resources.

The new Chart of Accounts includes two Future segments.
Based on lessons learned from other Higher Education institutions, and at the request of UCOP, the Future segments are reserved for UCOP’s future use.

Although users will see these segment in Oracle, they will NOT require data entry until criteria is defined and put into use. Until that time, a default value will be system-generated.