A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Accrual Accounting:
System of accounting where items are brought to account and included in the financial statements as they are earned or incurred, rather than as they are received or paid. Compare with cash accounting.
Source: http://www.deh.gov.au/about/budget/2002/paes/glossary.html
Accrued:
Periodically accumulated over time; "accrued interest"; "accrued leave". Also: the amount of interest owing but not paid.
Activity Based Costing :
A methodology that measures the cost and performance of activities, resources, and cost objects. Resources are assigned to activities, then activities are assigned to cost objects based on their use. Activity-based costing recognizes the causal relationships of cost drivers to activities.
Source: http://strategicsourcing.navy.mil/reference_documents/defs.cfm
Adjustment Budget :
The proposed amendments to the appropriations voted in the main Budget for the year. This is the mechanism by which government seeks parliamentary approval for spending which differs from the allocations legislated for in the Budget and Appropriations Act.
Source: Hickey, A and Van Zyl, A (2002), South African Budget Guide and Dictionary, IDASA Budget Information Service
Affidavit :
Written declaration made under oath; a written statement sworn to be true before someone legally authorized to administer an oath.
Allocation:
Money earmarked for a particular purpose in the Budget. For example the allocation for welfare on the national Budget has to be spent on welfare.
Source: South African Budget Guide and Dictionary by Alison Hickey and Albert van Zyl, published by Idasa, Cape Town, 2002
Assignment :
Functions may be allocated to local government through assignment. This entails the transfer of authority (where delegation would be merely the transfer of responsibility).
Source: Local Government Budget Guide
Audit:
An examination and verification of a company's financial and accounting records and supporting documents by a professional, such as a Certified Public Accountant.
