- *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 — Fin an expense that has been incurred within a given accounting period but not yet paid … The ultimate business 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