Finance & outsourcing glossary
Plain-language definitions of the terms that come up in conversations with our clients — fractional CFO, BPO, IFRS, working capital, month-end close, and others.
Bookkeeping
The systematic recording of financial transactions — sales, purchases, payments, receipts — to maintain accurate ledgers that support reporting and tax compliance.
Read full definitionBPO (Business Process Outsourcing)
Handing over an entire business function — such as accounting, finance, payroll, or customer service — to an external provider rather than performing it in-house.
Read full definitionEAS (Egyptian Accounting Standards)
The body of accounting standards issued by the Egyptian Ministry of Finance, mandatory for Egyptian companies, closely aligned with IFRS but with specific local divergences in areas like tax treatment, foreign currency, and certain disclosures.
Read full definitionEBITDA
Earnings Before Interest, Taxes, Depreciation, and Amortization — a measure of operating profitability that strips out the effects of financing decisions, tax regime, and non-cash accounting charges to show how much cash the core business generates.
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Integrated software that unifies a business's core operations — finance, inventory, procurement, sales, HR, and manufacturing — into a single data and process backbone, replacing disconnected systems and spreadsheets.
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The preparation of financial statements — income statement, balance sheet, cash flow statement — in accordance with applicable accounting standards (IFRS or local GAAP) for management, investors, lenders, and regulators.
Read full definitionFractional CFO
A senior finance leader retained on a part-time or project basis, typically a few days a month, providing CFO-level strategy, cash flow, budgeting, and board reporting without the cost of a full-time hire.
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The set of accounting standards issued by the International Accounting Standards Board (IASB), adopted by 140+ countries including Egypt and most of the GCC, that defines how financial statements must be prepared.
Read full definitionMonth-End Close
The structured process of finalizing a month's accounting records — reconciliations, accruals, adjustments, and review — to produce trial balance and financial statements ready for management review.
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Delegating the full accounting function — transaction processing, reconciliations, month-end close, and financial statement preparation — to an external firm rather than staffing internally.
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The short-term capital a business needs to fund day-to-day operations — calculated as current assets minus current liabilities — typically tied up in receivables, inventory, and prepaid expenses minus payables and accrued liabilities.
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