accrued expense
An unpaid expense incurred and *recognized in a *financial reporting period, and recorded as a liability at the end of that period. In line with the *accruals basis of accounting, accrued expenses are matched with the accounting periods to which they relate, and are held within either *current or *long-term liabilities until the related cash payment is made. For example, an unpaid, long-term rental cost would be expensed over the periods to which it related, and an appropriate, accumulated balance would be recorded on the balance sheet within *accrued expenses until the item was fully settled in cash.

Auditor's dictionary. 2014.

Look at other dictionaries:

  • accrued expense — ➔ expense * * * accrued expense UK US noun [C] (also accrued charge, also accrued cost, also accrued liability, also accrual) ACCOUNTING …   Financial and business terms

  • accrued expense — an expense incurred but not yet paid, as accrued interest on notes payable. [1980 85] * * * …   Universalium

  • Accrued Expense — An accounting expense recognized in the books before it is paid for. It is a liability, and is usually current. These expenses are typically periodic and documented on a company s balance sheet due to the high probability that they will be… …   Investment dictionary

  • accrued expense — an expense incurred but not yet paid, as accrued interest on notes payable. [1980 85] …   Useful english dictionary

  • accrued expense — See: accrual …   Accounting dictionary

  • expense — ex‧pense [ɪkˈspens] noun 1. [countable, uncountable] ACCOUNTING an amount of money that a business or organization has to spend on something: • Most advertisers look upon advertising as an expense and not an investment, which is a mistake. • The… …   Financial and business terms

  • accrued cost — ➔ cost1 * * * accrued cost UK US noun [C] ACCOUNTING ► ACCRUED EXPENSE(Cf. ↑accrued expense) …   Financial and business terms

  • accrued liability — UK US noun [C] (plural accrued liabilities) ACCOUNTING ► ACCRUED EXPENSE(Cf. ↑accrued expense) …   Financial and business terms

  • accrued charge — UK US noun [C] ACCOUNTING ► ACCRUED EXPENSE(Cf. ↑accrued expense) …   Financial and business terms

  • expense — That which is expended, laid out or consumed. An outlay; charge; cost; price. The expenditure of money, time, labor, resources, and thought. That which is expended in order to secure benefit or bring about a result. Shinrone Farms, Inc. v. Gosch …   Black's law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”