Budget – an estimate of income and expenditure for a set period of time
I can see the eyes glazing over right now. There are few things in life that are considered as mind-numbingly boring as a budget. Yet a budget is perhaps the most quintessential thing we accountants do, and, indeed, if it is done well, it is one of the most inspiring and human activities one can ever engage in. As usual, many of you are now thinking I have lost my mind, but let me state my case. You might agree with me when I’m done.
It is our ability to think that gives us, the human race, our basic tool to survive and thrive. Unlike lions and tigers and bears, who instinctively hunt or forage for their food and have the physical equipment to allow them to do so, we humans have neither the physical equipment nor the instincts to survive in the same way. We only have our minds, but it is our minds that have allowed us to dominate the planet – to go from cave-dwelling ‘animals’ to space-exploring, DNA-cloning, sky-scraper builders in 10,000 years time. Continue reading