UCD Accounting Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z List All Terms

Term Definition

F.O.B. An acronym meaning, "free on board". The term means that the seller is required to place goods aboard the equipment of the transporting carrier with or without cost to the buyer. The F.O.B. must be qualified by a location. The stated F.O.B. location is generally where title for the goods passes from the seller to the buyer. The buyer is liable for such charges and risks after passing of title. Refer to the Freight Terms online resource for assistance in choosing the correct code.

Fabrication Inventorial equipment physically constructed by a University activity or department. Documentation instructions for completing a fabrication are available in the Fabrication Request online reference manual.

Facilities and Administrative (F&A) Costs See Indirect Costs.

Fellowship Financial assistance awarded by the University based on scholarship and promise of outstanding academic or professional contribution. Usually awarded to graduate or post-graduate students for the purpose of enabling the recipient to devote full time to study and research.

Finalization A GL Review System process performed by the Primary Reviewer; it indicates that the monthly review is complete.

FIS An acronym for Financial Information System.

Fiscal Pertaining to financial matters.

Fiscal Period A segment of a fiscal year. There are 13 periods defined for each fiscal year - 12 that approximate the months in a year, and the 13th for the fiscal close process.

Full Accounting Unit (FAU) 30-character string that identifies the university function of a financial transaction. The complete FAU consists of the following fields: Chart (1) - Account (7) - Sub Account (5) - Object (4) - Sub Object (3) - Project (1-10). The required FAU fields are: Chart, Account, Object. See the online help resource for more information.

Full-time Equivalent (FTE) Equal to one employee working 100 percent time.

Fund An income source established for the purpose of carrying on specific activities, or attaining certain objectives, in accordance with special regulations, restrictions or limitations. The terms and conditions established by this income source must be complied with in making expenditures against the particular account.

Fund Accounting A method of accounting that separates and tracks financial transactions to meet restrictions and reporting requirements imposed by funding sources.

Fund Group A high level classification of all fund sources which have similar characteristics.

Term	Definition
F.O.B.	An acronym meaning, "free on board". The term means that the seller is required to place goods aboard the equipment of the transporting carrier with or without cost to the buyer. The F.O.B. must be qualified by a location. The stated F.O.B. location is generally where title for the goods passes from the seller to the buyer. The buyer is liable for such charges and risks after passing of title. Refer to the Freight Terms online resource for assistance in choosing the correct code.
Fabrication	Inventorial equipment physically constructed by a University activity or department. Documentation instructions for completing a fabrication are available in the Fabrication Request online reference manual.
Facilities and Administrative (F&A) Costs	See Indirect Costs.
Fellowship	Financial assistance awarded by the University based on scholarship and promise of outstanding academic or professional contribution. Usually awarded to graduate or post-graduate students for the purpose of enabling the recipient to devote full time to study and research.
Finalization	A GL Review System process performed by the Primary Reviewer; it indicates that the monthly review is complete.
FIS	An acronym for Financial Information System.
Fiscal	Pertaining to financial matters.
Fiscal Period	A segment of a fiscal year. There are 13 periods defined for each fiscal year - 12 that approximate the months in a year, and the 13th for the fiscal close process.
Full Accounting Unit (FAU)	30-character string that identifies the university function of a financial transaction. The complete FAU consists of the following fields: Chart (1) - Account (7) - Sub Account (5) - Object (4) - Sub Object (3) - Project (1-10). The required FAU fields are: Chart, Account, Object. See the online help resource for more information.
Full-time Equivalent (FTE)	Equal to one employee working 100 percent time.
Fund	An income source established for the purpose of carrying on specific activities, or attaining certain objectives, in accordance with special regulations, restrictions or limitations. The terms and conditions established by this income source must be complied with in making expenditures against the particular account.
Fund Accounting	A method of accounting that separates and tracks financial transactions to meet restrictions and reporting requirements imposed by funding sources.
Fund Group	A high level classification of all fund sources which have similar characteristics.

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