Glossary

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Glossary For "A"

Accounts Payable (also known as Payables)

Money owed by your organization according to bills or invoices already received.

Accounts Receivable (also known as Receivables)

Money owed to your organization, corresponding to bills or invoices that have already been sent out.

Accrual Accounting/Budgeting

The accounting/budgeting system that records revenue when it is earned, expenses when they are incurred, and the cost of using fixed assets such as buildings or equipment, as opposed to Cash Accounting, defined below.

Actions that will be undertaken by the program staff in order to achieve program objectives.

Allocation of Costs

In a cost or fund accounting system, the assignment of costs to different programs, operating centers, or types of services. For example, the accounting system may allocate 50 percent of the Training Coordinator's salary to "Overhead", and then allocate 10 percent to each of five different programs.

Annual Work Plan

A document that describes what the organization will do over the period of one year and links together the work plans of all the program components.

An asset is anything that has value that helps an organization provide its services to clients. Examples of assets include: cash, land, buildings, equipment, inventories (of supplies or goods for sale), furniture, and money owed to the organization ("receivables"). See "Fixed Assets" and "Current Assets."

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