Accruals

(redirected from Accrued liabilities)
Also found in: Wikipedia.

Accruals

On a balance sheet, an expense or asset that is recognized before it is paid. Accruals are recorded as liabilities or assets (depending on the type) and are recognized because of the extremely high likelihood of payment. Accruals are generally periodic payments; examples include salaries and accounts receivable from well-known customers. They are recorded as "accrued" on a balance sheet on the date the payment begins to be expected; they remain in this section of the balance sheet until they are actually paid.
References in periodicals archive ?
The sanction is imposed for charging interest for late payments of company accrued liabilities for the supply of drinking water, disposal and treatment of waste water on the territory of Sofia Municipality during the months without metering device accounts which affects the interests of consumers and is an imposition of unfair trading condition.
They should further ensure that all validly accrued liabilities are promptly cleared and are not postponed towards the end of the financial year.
2m convertible preferred shares with a fully accreted value of CAD80m at 30 April 2009 and accounts payable and accrued liabilities of CAD16m.
Third, unfunded actuarial accrued liabilities indicate the excess, if any, of liabilities over assets in dollars.
The ARC is the employer's required contribution and consists of the normal cost for the year and a portion of amortization of the total unfunded actuarial accrued liabilities of the plan over a period not to exceed 30 years.
SPD also will provide certain other considerations and will assume certain trade payables, accrued liabilities and capital leases associated with the desktop software business.
For some, the goal is full payment of the accrued liabilities as quickly as possible (to minimize interest and late payment penalties).
The company's annual financial statements say: "Our accrued liabilities for environmental matters were $30 million as of December 31, 1999.
If a plan's assets equal its actuarial accrued liabilities (AAL), the plan is considered 100 percent funded.
Because a plan termination contemplates using existing plan assets to discharge all accrued liabilities at one time, it is a concern if the plan is under-funded on a termination basis.
The portion of companies' accrued liabilities that is for active workers will be about $257 billion in 1993, and the portion for retirees is $155 billion, as figure 1 shows.
The Governmental Accounting Standards Board issued an exposure draft, Accounting for Compensated Absences, to provide guidance for measuring accrued liabilities for compensated absences regardless of the reporting model or fund type used by state and local governments.