IFPUG I40-420 Question Answer
The Account Reconciliation Application (ARA) is used by banking operations to match credit (in) and debit (out) transactions within client accounts. Both credit and debit transactions are received from several other applications and stored as the Client Reconciliation logical file. ARA is capable of automatically matching transactions based on the Business Parameters logical file which is maintained by users in the ARA.
Access permissions in the User Access logical file are maintained by users in the ARA, and contain online user account permissions and approval levels.
The users can maintain their own report forms in the Reporting logical file. All reports use the Currency logical file, which is maintained by an external application, to convert the local payment currency to Euros.
From the Names of Possible Functions listed identify the data functions for the ARA. Select N/A if a Name of Possible Function does not apply.
Identify the functions used:
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- Value of Money
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