ABSTRACT
Balance sheet – a list of an organisation’s assets and liabilities, which when netted off (i.e. assets minus creditors) gives a valuation of the organisation’s net worth (also known as capital). Budget – the business or overall plan of an organisation expressed in financial terms. Cash budget – an analysis of how the cash available to an organisation is expected to change over a given period of time. Continuation budgeting – budgets compiled on the basis of no change in policies or priorities, i.e. business as usual.
