> ## Documentation Index
> Fetch the complete documentation index at: https://docs.trykompass.com/llms.txt
> Use this file to discover all available pages before exploring further.

# FP&A glossary

> The planning and accounting terms Kompass uses, in plain language.

| Term | Meaning |
| - | - |
| Actuals | What really happened, from your accounting system or a file. |
| Budget vs Actuals (BvA) | The plan compared with what happened, line by line. |
| Variance | Actual minus budget. |
| Favorable / Unfavorable | Whether a variance helps or hurts: revenue above budget is favorable, expenses above budget unfavorable. |
| Chart of accounts (COA) | Every account in your ledger. |
| GL account | One ledger account, identified by a code such as *6100*. |
| Mapping | Linking a ledger account and a budget line so actuals land in the right place. |
| P\&L | Profit and loss, or income statement: revenue, costs and profit. |
| Balance sheet | What the business owns and owes at a point in time. |
| Cash flow statement | Cash coming in and going out over a period. |
| COGS | Cost of goods sold: the direct cost of what you sell. |
| OpEx | Operating expenses: the cost of running the business, such as salaries and rent. |
| EBITDA | Earnings before interest, tax, depreciation and amortization. |
| Fiscal year | Your financial year; it need not start in January. |
| Figures are in | The denomination a budget is written in: actual amounts, thousands, millions or billions. |
| Entity | A legal company inside your organization, with its own base currency. |
| Dimension | A way to slice numbers, such as department or region. Its values are members. |
| Department | A team that owns budget sheets; also a Department dimension member. |
| Master sheet | A budget sheet finance keeps for itself. |
| Department sheet | A budget sheet assigned to a department to fill in. |
| Consolidation | Rolling department sheets up onto the master sheets. |
| Activate | Make a draft budget live; its status becomes *In Review*. |
| Projection | A multi-year forecast built from your history. |
| Scenario | A set of figures, such as actuals or a projection's output. |
| What-if | A copy of a projection with one assumption changed. |
| Metric | A figure Kompass calculates from others, such as gross margin. |
| Dashboard | Charts and tables for one audience, such as leadership. |


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