Glossary

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 Exchange Rate (Accounting or Operational)

The rate that is applied, in the books of the organization, to one currency to determine its equivalent in another currency (all organizations normally use a common table of rates).

 Allotment

A financial authorization issued by or on behalf of the executive head of the organization to an official or a unit to incur obligations for specific purposes, and within specified limits, during a definite period.

 Accounts, Subsidiary

Accounts containing supporting details not included in main accounts.