Glossary of Jirav Terms

There are many terms used in the vernacular of Jirav and the FP&A space. This glossary of terms continues to expand by including definitions aiding in your success.

Term	Definition
Accounts Payable (AP)	Money owed by a company to its creditors for expenses incurred in the ordinary course of business.
Accounts Receivable (AR)	Money owed to a company by its customers for sales incurred in the ordinary course of business.
Active Plan	An Active Plan is a scenario that is available to view in dashboards, reports, and plan areas of Jirav.
Actuals	Jirav imports actual historical data for reporting purposes. Jirav integrates accounting actuals for financial results, workforce actual detail for staffing, and key metrics on custom tables.
Amount per Headcount	Multiplies a headcount number by a dollar amount of a number to forecast values that are dependent on headcount. The input can be based on cumulated headcount or new headcount.
Annual Operating Plan (AOP)	A detailed plan that lays out a company's goals (financial and other). It describes how to define success and the plan to pursue the goals. The 12-month budget is the most visible part of the annual plan. The annual operating plan includes goal setting, model building, forecasting, budgeting, and tracking actual progress against the set goals.
Annual Recurring Revenue (ARR)	Income that a company can count on receiving every year. If a three-year contract value is $36,000, then the ARR would be $12,000.
Annual Target	Set an annual budget for an account and allocate it over 12 months. The forecast for the year will automatically adjust by considering amounts incurred throughout the year.
Archived Plan	An Archived Plan is a scenario that is hidden from view in dashboards, reports, and plan areas or Jirav. An archived plan can be reinstated to be an active plan.
Assets	Property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
Assumption	Like global drivers, assumptions can be used in more than one plan. They can be used in the place of constants when defining plan and global drivers.
Balance Sheet	A financial statement communicating the book value of an organization in the format of original cost. A classified balance sheet separates current accounts (those easily convertible into cash within 12 months) and long-term accounts (those not easily convertible into cash within 12 months). Accounts are generally noted as Assets, Liabilities, and Equity. The standard accounting equation is Assets = Liabilities + Equity
Board Reporting	Many companies have a Board of Directors that oversees the company's direction. Often, they do have the same operating functions that a CEO may have. Because of this, the board needs to be informed on the state of the company through the board report. Often, this report contains key financial metrics such as BvA and non-financial metrics.
Budget vs Actual Reporting (BvA)	BvA reporting compares planned financial performance (the budget) to actual results to identify variances and inform strategic decision-making.
Chart of Accounts (COA) Mapping	In the GL, accounts can often be very granular, such as multiple cash accounts. In reporting, there might not be a need for the detailed account view, so multiple accounts can be rolled up into one account named Cash.
Cost of Goods Sold (COGS) or Cost of Sales (COS)	The total amount paid as a cost directly related to the sale of products or services.
Custom Driver	A custom driver is based on two inputs with a mathematical function. It is applied to an output using the universal addressability picker. It can be rounded and has a start date with an end date.
Custom Line	Represents one line on a custom table. A line can be a section, reference, or a new line. Data for new lines can be imported into a custom table from Excel or Google Sheets.
Custom Table	Custom tables help define elements that are specific to your business but not tracked in the accounting or staffing data. Such data can be used for key performance indicators and bottom-up forecasting.
Customer Acquisition Cost (CAC)	The cost of winning a customer to purchase a product/service. For example, if you spend $10,000 on marketing and acquire 10 customers, then the CAC would be $1K (10,000 / 10 = 1,000).
Customer Lifetime Value (CLV)	CLV is based on two components: Lifetime Value (LTV) and Gross Profit Margin (GPM). Whereas LTV only examines gross sales per customer, CLV examines the profitability per customer. For example, if the LTV is $18,000 and the GPM is 40%, the CLV is $7,200 (18,000 x 40% = 4,200).
Cutover Date	The date that defines when the actual period of the plan has stopped and the forecasted period of the plan begins.
Dashboard	Groupings of charts and graphs, called tiles, that allow the user to visualize data pictorially.
Departmental Budgeting	Department-level planning for spending for the upcoming budget period.
Driver	A driver represents one or more key factors (inputs) having impact that is applied to an output. The input of a driver can be defined by ranges and reductions. The output of a driver can be controlled by a start date, end date, and rounding. Drivers can be plan drivers or global drivers.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)	EBITDA is metric that tracks earnings before interest, taxes, depreciation, and amortization. It is computed by obtaining Net Income from the Income Statement and subtracting interest, taxes, depreciation, and amortization.
End Date	When used in a driver, the end date represents the latest date when the driver should be applied to the output. It is either the specific date, cutover date, minimum plan date, or maximum plan date.
Fixed Spread	Set a budget for a period that does not change as actual amounts are incurred.
Forecasting	Forecasting is the process of estimating future financial outcomes based on historical data, current trends, and expected business conditions. As a company moves into the future, the original plan can roll forward with adjustments made based on updated projections.
General Ledger (GL)	Account numbers and/or account descriptions that are used to categorize financial transactions. Most common general ledger account types are Revenue, Expenses, Assets, Liabilities, and Equity. Expenses are divided into deeper account types referred to as cost of goods sold, operating expenses, and other expenses. Assets and Liabilities are divided into deeper account types referred to as Current (those that are easily converted into cash within 12 months) and Long-term (those that are not easily converted into cash within 12 months).
Global Driver	Global drivers can be accessed by more than one plan. They are associated with custom tables and must be custom drivers.
Gross Profit	On the Income Statement, this is computed by subtracting Cost of Sales from Revenue. The Gross Profit only includes costs that are directly associated with providing goods or services for sale.
Growth on Historicals	Applies a growth percentage to a historical amount. Requires data from the prior two years to compute a growth percentage formula.
Income Statement (Profit and Loss or "P&L")	This is the financial statement that presents Revenue and Expenses. Expenses are typically presented in three groupings: Cost of Sales, Operating Expenses, and Other. These groups allow the user to view three important subtotals: Revenue – Cost of Sales = Gross Profit Margin Gross Profit Margin – Operating Expenses = Operating Income Operating +/- Other Expenses = Net Income The income statement along with the balance sheet and statement of cash flows, helps users understand the financial health of a business.
Key Performance Indicator (KPI)	Demonstrates how well a company is achieving its goals and expectations.
Liability	Liabilities are a company's obligations to others arising from past transactions or events, which will require the future use of assets, services, or other economic resources to settle. They represent future sacrifices of economic benefits.
Lifetime Value (LTV)	LTV is a component of total Customer Lifetime Value (CLV). There are three sub-components of LTV: average value of sales, number of transactions, and retention time period. For example, if the average monthly subscription is $500, and the average customer purchases a 12-month contract and renews the 12-month contract for two more years, then the LTV is $18,000 (500 x 12 x 3 = 18,000).
Maximum Date	The end date of a plan.
Minimum Date	The start date of a plan.
Model Building	Enables users to incorporate financially impactful business decisions, also known as a driver-based model, where key decisions act as levers across the organization.
Monthly Recurring Revenue (MRR)	Income that a business can count on receiving every single month. If a three-year contract value is $36,000, then the MRR would be $1,000 (36,000 / (12 x 3) = 1,000).
Net Income	On the Income Statement, Net Income measures the profit realized after considering all sources of revenue and expenses (cost of sales, operating expenses, and other).
Operating Expenses (OpEx)	Any expenses that a business incurred that are not capitalized or directly related to the sale of products or services. Examples include: salaries, bonuses, marketing, insurance, R&D, etc.
Operating Income	On the Income Statement, this is computed by subtracting both Cost of Sales and Operating Expenses from Revenue. The Operating Income measures the profit realized from a business operation.
% of Another Account	Allows you to apply a driver based on a percentage of another account or input from the staffing table, custom table, goals, or KPI library.
Periodic Growth	Applies a growth percentage or number on a periodic basis to a calculated amount.
Plan	A plan represents a specific source scenario based on actual and forecasted amounts. Jirav allows you to have multiple plans. For instance, a company can have an “Annual Base Operating Plan”, a “Best Case Scenario Plan”, and a “Worst Case Scenario Plan”. Plans can be active plans, archived plans, or plans of record.
Plan Driver	Plan drivers can only be used within one plan. They can be standard drivers or custom drivers.
Plan Management	A plan represents a specific scenario and has a start date (minimum date) and an end date (maximum date). The cutover date indicates when the actual period ends and the forecasting period begins. The Plan Management page allows you to control these dates as well as create new plans.
Plan of Record (POR)	An active plan can become a plan of record, which permanently locks down the plan, making it read-only and permanently saved for auditability. An active POR can be viewed in reports, dashboards, and plans. While a POR cannot be edited, it can be cloned into an editable plan.
Range	Ranges provide the ability to select varying lengths of time. This is used to gather inputs and/or present outputs in a dashboard tile, report element, and perform mathematical calculations within drivers. Jirav delivers default ranges and users can also create custom ranges.
Reduction	When a selected range encompasses more than one period, the reduction determines how to aggregate the selected value. Examples include sum, average, maximum, and minimum.
Report Template	Jirav allows you to create reporting packages, referred to as Report Templates, containing standard financial reports like the Balance Sheet, Income Statement, and Cash Flow Statement. Users can also create supporting schedules and operating reports. Reports can be based on a variety of sources, including actual and planned amounts. It is also possible to include dashboards in a report template.
Return on Investment (ROI)	Return on Investment is a performance measurement on the efficiency of an investment.
Rolling Forecast	A rolling forecast is a financial projection that is continuously updated, typically monthly or quarterly, to extend the planning horizon and reflect the most current data and trends.
Settings	You define the values in the Settings area of Jirav that are used in plans, reports, and dashboards. Common values defined in the Setup area include: Integrations, Company, Users, Chart of Accounts, Departments, Custom Tables, Global Drivers, Assumptions, etc.
Standard Drivers	Standard drivers include Annual Target, Fixed Spread, Growth on Historicals, Periodic Growth, Amount per Headcount, % of Another Account, and Custom Driver.
Start Date	When used in a driver, the start date represents the earliest date when the driver should be applied to the output. It is either the specific date, cutover date, minimum plan date, or maximum plan date.
Statement of Cash Flows	The Statement of Cash Flows aggregates data related to sources of cash received and uses of cash disbursed. All receipts and disbursements are divided into three activities: Operating Activities, Investing Activities, and Financing Activities.
Subitem	Subitems are useful for fixed expenses that are specific to a month and an account. For example, contractor expenses planned by the individual contractor.
Tile	An individual chart or graph included in a dashboard is referred to as a tile. Jirav uses several tile types, including column charts, line charts, horizontal row charts, tables, stacked column charts, and donut charts.
Trial Balance (TB)	A trial balance contains all the general accounts and their totals for a respective period of time. It is the report where debits and credits are proven to be in balance before preparing the financial statements referred to as the Income Statement, Balance Sheet, and Statement of Cash Flows.
Universal Addressability Picker (UA Picker)	To simplify selections of data for users, Jirav utilizes an engine to point at any data line within the model using a filter. The UA Picker is used throughout Jirav – you will find it on dashboard tiles, report elements, and drivers. For example, the field of Category on a driver points to the Income Statement, Balance Sheet, Staffing, Custom Tables, and Key Assumptions. If you select the Category of Balance Sheet, the UA Picker filters out all information except Assets, Liabilities, and Equity.
Workforce Planning	Methodology for making sure the right people with the right skills are where they need to be in the organization.