What processes represent the scope of financial management for IT services?

'Costing' is not the ITIL-defined term for the second process; the correct term is 'IT Accounting,' which encompasses cost tracking, allocation, and analysis.

ITIL's Financial Management for IT Services is formally composed of three sub-processes: Budgeting (planning and controlling financial expenditure), IT Accounting (tracking and reporting on costs), and Charging (recovering costs from customers or business units). These three processes together constitute the complete defined scope of Financial Management as documented in the ITIL Service Strategy volume.

Cost models and invoicing are components or outputs within Financial Management processes but do not represent the complete formally defined scope of the practice.

'Billing' is not the ITIL-defined process name, and this option omits Budgeting, which is a core and required component of the Financial Management scope.