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Whipsaw Glossary

Currently viewing the definition of: Deferred Income
 
 
 Is income received in advance of the period in which it is earned. It must be carried forward as a liability on the balance sheet until it has been earned, when it is credited to the profit and loss account. 
 


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    • Capital Budget
      A budget set by organisations for its future capital expenditure over multi-periods. The budget will invariably be split between assets which will need to be replaced at the end of their useful economic lives and new capital expenditure to facilitate business developments.