COMPANY BUDGET MANAGEMENT

The difference between the available cash at the beginning of an accounting period and that at the end of the period. Cash comes in from sales, loan proceeds, investments and the sale of assets and goes out to pay for operating and direct expenses, principal debt service, and the purchase of assets.

Internal Control and Risk Management, as defined in accounting and auditing, is a process for assuring achievement of an oganisation’s objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies.

A broad concept, internal control involves everything that controls risks to an organization.