To allow for a common starting point between the Accounting/Finance and the Information Technology departments, the practice of Information Technology Financial Management (ITFM) starts with general ledger expenses. This brings alignment between the Finance and the Information Technology (IT) functional areas by providing a common starting place for the ITFM model. Due to a variety of reporting needs, ITFM will often model the IT general ledger expenses to pools of costs, IT functions or towers, infrastructure/functional IT areas, IT business services and ultimately to business units. A school of thought has surfaced that encourages identifying or tagging general ledger costs with all the tags necessary to identify each expense to IT functions, functional areas and/or services.
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