Relier Pairs Fiscal Terms - BudgetingVersion en ligne Match the Term to its Definition par Julie Catherino 1 Internal Controls 2 Expenses 3 Revenue 4 Separation of Duties 5 Liabilities 6 Assets 7 Forecasting 8 Fiscal Year The total amount of money collected for services or goods sold before any expenses are subtracted. Everything with an economic value that the program owns. The process of using historical financial information to predict future business trends. Owners can use it to estimate future budgets and make financial decisions during the year. A 12-month period of time used for tax and accounting purposes and preparing financial statements. The fiscal year can coincide with the calendar year. However, it can also be different, depending on business needs. Debts that the program is responsible to pay. Having more than one person complete a task. This is considered an internal control to help reduce risk. Processes that help reduce risk and provide reasonable assurance about the integrity of financial information, the effectiveness of operations, and compliance with laws. Money spent or costs incurred to run the program and earn revenue.
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