Accruals

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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 ?
As of 31 December 2016, the company's accrued liability related to the straight-line rent on the lease between the company and the City was approximately USD 2.
Under previous authoritative standards this amount was known as the unfunded actuarial accrued liability (UAAL) or unfunded actuarial liability (UAL); under the GASB's new pension pronouncements, it will be referred to as the net pension liability (NPL).
Morningstar's pension plan analysis focused on two key metrics: funded ratio-the ability of a pension plan to meet its obligations, which is calculated by dividing the pension plan's assets by its liabilities; and unfunded actuarial accrued liability (UAAL) per capita-the unfunded liability per capita, representing the amount each person in the state would need to pay to fully fund this unfunded liability.
When the latter exceeds the former, the result is what's called the unfunded actuarial accrued liability, soon to be known as the net pension liability.
In its filing to the Securities and Exchange Commission (SEC), the bank said that the legal liability, in addition to its accrued liability, would range from USD145m to USD1.
Proceeds from the series 2010A POBs will finance a portion of the county's share of Sonoma County Employees' Retirement Association unfunded actuarial accrued liability.
For retiree health benefits, studies estimate that the total unfunded actuarial accrued liability for state and local governments lies between $600 billion and $1.
These checks are an accrued liability for a municipality until paid to the rightful vendor or until applicable law allows the jurisdiction to claim the funds through escheatage.
The effects of a termination benefit on an employer's defined benefit pension or OPEB obligations (for example, a change in an employer's actuarial accrued liability for pension benefits or postemployment healthcare benefits) should be accounted for and reported in accordance with the requirements of Statement 27 or Statement 45, respectively.
The common and simple approach used to compute the book-tax difference for these accrued liabilities is to subtract the ending balance from the beginning balance in the accrued liability accounts.
The actuarial accrued liability for benefits not yet due and payable would be reported in the schedule of funding progress, together with the actuarial value of assets (generally, market value smoothed over, for example, three to five years).