How are a FOP and a FOAP different?
Question: How are a FOP and a FOAP different?
A FOP refers to the three codes (Fund, Organization and Program) that identify a budget. The three codes are combined to become one identifier for the budget:
When transactions add to (revenue) or deduct from (expense) the budget, they must include an A - Account code that identifies the transaction as well as the budget being updated. Thus a transaction requires the FOP codes and an A code, and the order of entry on the transaction is FOAP.
To learn more: Attend the Financial Management 101: Introduction to the FOAP Codes training class to learn more about the financial terms and business practices of Texas Tech. This class is a pre-requisite for Budget, Procurement, and Cognos Reporting classes that assist you in the performance of your job duties.
Submitted by: Byron Anderson
|Posted by: salih - Tue, Jun 17, 2008 at 11:48 AM. This article has been viewed 1151 times.|
|Online URL: http://kainz.ttu.edu/phpkbv8/article.php?id=67|
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