Foundational Oracle Terms

Term	Description
Chart of Accounts (CoA)	The chart structure to be used by UofM for recording transactions. It will provide the common framework for financial and management reporting. The CoA will replace FOPAL.
EPM	Enterprise Performance Management - One of the Oracle modules that will be implemented as part of the initiative.
ERP	Enterprise Resource Planning - A type of software that UofM will use to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations.
HCM	Human Capital Management - One of the Oracle modules that will be implemented as part of the initiative.
General Ledger (GL)	A general ledger is a bookkeeping system that accountants use to record financial transactions.
Subledger	A subledger is a ledger containing all of a detailed sub-set of transactions. The total of the transactions in the subledger roll up into the general ledger.
Boundary System	Any current UofM system or software that houses financial, human resources, and budget-related data that will need to be shared with the Oracle Cloud system.
Assignment	Refers to a set of information that defines an employee's role in the organization, including job, pay, compensation, managers, working hours, and work location. An employee can have multiple assignments in a single work relationship.
Development Goals	Development goals facilitate the career growth of caregivers so that they can perform better in their current jobs or prepare themselves for advancement.
Talent Profile	A module that maintains professional details for candidates and employees, such as skills, licenses, certifications, and education details.
Position	Position is a specific instance of a job in an organization
Department	Lowest level of an organization to which you assign Employees
Jobs	Generic roles that identify the general nature of the work performed.
Seniority Date	Basis of calculation of a person's seniority with the Enterprise, Department, Grade, or other entity
Area of Responsibility	A specific responsibility given to an individual to access records of groups of people to perform transactions. Allows you to assign a responsibility to an individual and select the group of people who fall under that individual's responsibility. Used to identify representatives for an employee population, identify approvers in an approval flow, or secure access to paerson and position records.