CV - Job Titles

What is the perceived best practice around job titles for CV's? Do you always put down what is on your job description even if it won't make a lot of sense to someone outside that organisation (e.g. I was once called a "Sales Service Manager" though my job was really a Distribution/Operations Manager)? Or what if a title doesn't accurately represent the role - e.g. in my current org' you are only actually called a manager once you move into a European role. So I build and manage a $4m+ budget, manage a team of 8 technical specialists, negotiate SLA?s with European business managers but my job title says ?Team Lead? which in many companies is a more hands-on supervisor role.
I don?t want to exaggerate or big myself up but I also don?t want my CV to be discarded because people home in on a job title and jump to wrong conclusions.