ABSTRACT
Budgets Chapters 2 to 9 provide a basic understanding ofhow accountants and, in particular, cost accountants approach their work. This chapter explains:
• what a budget is, and how expenditure is usually categorized in budgets (Section 2.1);
• the difference between recurrent and non-recurrent expenditure (Section 2.2); • the difference between capital and revenue (or operating) expenditure (Section
2.3).
