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Acronym of Global Business Unit.

Acronym of Global Costing Control Owner.

It is an internal control role assigned to Business Controller by a GBU finance director. There is at least one GCCO by GBU:

• Validate variance analysis (WP1 only)
• Perform control related to net realization value reserve

Acronym of General Accounting Close.

Acronym of General Ledger.

Acronym of Group Accounting & Reporting.

Acronym of Global Distribution System. Hotel loads the Solvay rate or discount in GDS, meaning the rate can be booked by the travel agency and in the Self Booking Tool.

Acronym of Goods and Services Tax.

Generally accepted accounting principles (GAAP) refer to a common set of accepted accounting principles, standards, and procedures that companies and their accountants must follow when they compile their financial statements.

The GBU Masterfile is a compliance document which describes the operation of the GBUs within the Solvay Group. Each GBUs have a separate Masterfile.

The Group Masterfile is a compliance document which describes the operation of the Solvay Group. 

The content criteria of the Group Masterfile is defined by the OECD.

This documents serves as an appendix to the local transfer pricing documentation, which may be requested by local tax authorities in the event of a tax audit.