This glossary covers the principal budget and forecasting terms used in the book.
Activity based costing (ABC) A method of allocating overhead costs across product/service lines.
Asset An item of realisable value.
Asset register A record of the purchase price and depreciation of items of realisable value.
Budget Used by itself the term usually refers to budget allocation.
Budget allocation Financial limits allocated to expense and revenue headings, often calendarised.
Budget forecast Expected revenue and expenses for a budgeting period, based on rational considerations and experience.
Capital expenditure (expense/cost) Expenditure on items that ...
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