Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Important Definitions
Sr No. Term Meaning
1
Accounting Cycle/ financial
year
Composed of several Accounting Periods spanning over twelve (12) consecutive months. Organizations currently operate on a
fiscal year beginning on April 1st and ending March 31st
2 Accounting Period
Expenditure and revenue measurement within a predetermined time frame. There may be several Accounting Periods in an
Accounting Cycle
3
Accountant General
(Accounts and Entitlement)
The head of the department of an accounts office of the Comptroller and Auditor General of India by whatever designation called
4 Accountant General (Audit) The head of the department of an audit office of the Comptroller and Auditor General of India by whatever designation called
5 Advance A payment made to vendor/supplier/ employee before it is due
6 Amortization
The measure of an intangible asset‘s loss of value over time by a mathematical formula to properly match revenues against the
appropriated value of the asset. This is done for patents, copyrights, and organizational costs
7 Appropriation
The amount authorised for expenditure under a major or minor head or sub - head or other unit of appropriation or part of that
amount placed at the disposal of a disbursing officer
8 Appropriation Accounts
Accounts prepared by the Comptroller and Auditor-General for each grant or appropriation in which is indicated the amount of the
grant sanctioned and the amount spent under each level of head of account given in budget literature and on the grant as a whole.
Page 44 of 705