Glossary of Terms beginning with P
- P2P
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Procure-to-Pay
- PAD
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Process Architecture Document
- Past due
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A financial asset is past due when a counterparty has failed to make a payment when contractually due.
- Past service cost
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The change in the present value of the defined benefit obligation for employee service in prior periods, resulting in the current period from the introduction of, or changes to, post-employment benefits or other long-term employee benefits. Past service cost may be either positive (when benefits are introduced or changed so that the present value of the defined benefit obligation increases) or negative (when existing benefits are changed so that the present value of the defined benefit obligation decreases).
- PCC
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Police Countributing Country
- PD
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Procurement Division
- PDD
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Project Design Document
- PDD
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Process Definition Document
- PI
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Process Integration
- PID
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Project Initiation Document
- PIT
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Product Integration Test(ing)
- PK
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Peace Keeping
- Plan assets
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Plan assets comprise: (a) assets held by a long-term employee benefit fund; and (b) qualifying insurance policies.
- PLM
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Product Lifecycle Management
- PMO
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Project Management Office/Project Management Officer
- PNR
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Personal Name or Number Record
- PO
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Purchase Order
- Post-employment benefits
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Employee benefits (other than termination benefits) that are payable after the completion of employment.
- Postemployment benefit plans
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Postemployment benefit plans are formal or informal arrangements under which an entity provides postemployment benefits for one or more employees.
- PPM
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Projects Portfolio Management
- PRD
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Production Environment
- Present value of a defined benefit obligation
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Present value of a defined benefit obligation is the present value, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior financial periods.
- Presentation currency
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Presentation currency is the currency in which the financial statements are presented. For the UN this is the US$.
- Preventive Maintenance Order
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Means of documenting maintenance work.
- Primary Cost Element
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Provides segregation of cost by 'nature of expense' and are created one-to-one with corresponding PandL accounts. They allow simultaneous posting to Finance (FI) and Controlling (CO).
- Prior period errors
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Prior period errors are omissions from, and misstatements in, the entity's financial statements for one or more prior financial periods, arising from a failure to use or a misuse of reliable information that (a) was available when financial statements for those financial periods were authorized for issue; and (b) could reasonably be expected to have been obtained and taken into account in the preparation and presentation of those financial statements.
- PRM
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Partner Relationship Management
- Production Support
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Assistance provided to end users to allow them to transition to and use UMOJA.
- Profit Centres
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Profit Centres represent an area of responsibility within a company. It is typically a unit which monitors both costs and revenues and which behaves as an independent operating unit for which a separate operating statement and balance sheet can be calculated for external reporting.
- Property, plant and equipment, (PPE)
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Property, plant and equipment, or PPE, are tangible items that are (a) held for use in the production or supply of goods or services, for rental to others or for administrative purposes; and (b) expected to be used during more than one reporting period. Property, plant and equipment should not be confused with inventories as defined above, although they may be counted and physically verified.
- Proportionate consolidation
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Proportionate consolidation is a method of accounting and reporting whereby a venture's share of each of the assets, liabilities, revenue and expenses of a jointly controlled entity is combined on a line-by-line basis with similar items in the venture's financial statements or reported as separate line items in the venture's financial ' statements.
- Prospective application of changes in accounting policy and accounting estimates
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Prospective application of a change in accounting policy and of recognizing the effect of a change in an accounting estimate, respectively, means: (a) applying a new accounting policy to transactions occurring in the financial period when the policy is changed; and (b) recognizing the effect of the change in the accounting estimate in the current, and where applicable, future financial periods affected by the change.
- Provision
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Provision is a liability of uncertain timing or amount.
- PT
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Performance Testing
- PTT
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Project Team Training