Definition, Meaning & Synonyms
virement
Noun
/ˈvɪə.mənt/
Definition
The transfer of funds from one budget heading to another within an organization’s financial accounts.
Examples
- The company approved a virement to cover unexpected expenses in the marketing department.
- Due to unforeseen circumstances, the local government had to initiate a virement to balance its budget.
Meaning
Virement is a financial practice used to manage budgetary constraints by reallocating resources where needed.
Synonyms
- Reallocation
- Transfer
- Adjustment
