Glossary of Terms beginning with O

Click one of the letters above to go to the page of all terms beginning with that letter.



Offices Away from Headquarters

Obligating event

Obligating event is an event that creates a legal or constructive obligation that results in an entity having no realistic alternative to settling that obligation.


Optical Character Recognition


Organizational Management

Onerous contract

Onerous contract is a contract for the exchange of assets or services in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits or service potential expected to be received under it.

Operating activities

Operating activities are the activities of the entity that are not investing or financing activities.

Operating lease

Operating lease is a lease other than a finance lease.

Original budget

Original budget is the initial approved budget for the budget period.

Other long-term employee benefits

Other long-term employee benefits are employee benefits (other than postemployment benefits and termination benefits) that do not fall due wholly within 12 months after the end of the financial period in which the employees render the related service.

Other price risk

The risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices (other than those arising from interest rate risk or currency risk), whether those changes are caused by factors specific to the individual financial instrument or its issuer, or factors affecting all similar financial instruments traded in the market.

Outbound Delivery

SAP transaction used during inventory transfer, whereby the sending mission organizes the outbound movement of inventory.

Outgoing Payments

Record created each time your organization issues a payment either to a customer, a vendor or a treasury counterparty. The outgoing payment document can be created for the following payment means: cash, check, and bank transfer. Once the outgoing payment is added, an appropriate journal entry is created.