accrued expense


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Related to accrued expense: unearned revenue, Accrued Revenue

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.

accrued expense

An expense incurred but not yet paid. A firm incurs certain expenses such as wages, interest, and taxes that are paid only periodically. From the time expenses are incurred until the date they are paid, expenses accrue in a firm's balance sheet.
References in periodicals archive ?
With immediate recognition, the accrued expense, excluding the cumulative effect, for the median firm is $5.4 million, which is 2.2 times the currently reported pay-as-you-go cost.
The cash paid for other operating costs was $403,450, which consisted of cash operating expenses recognized on the income statement ($476,400 minus the $15,000 of amortization expenses for a total of $461,400) plus the additional prepaid expenses made during the year ($32,000) minus the amount by which accrued expenses rose during the year ($89,950).
Oracle's solution, running on top of the Oracle8 database and Oracle Internet Application Server, gives MSC visibility and traceability for all financial transactions, the capability to enter accrued expenses as they occur instead of monthly and the ability to record worldwide transactions in the period in which they occur.
Each of the working capital components (including accounts receivable, inventory, accounts payable and accrued expenses) gets an adjustment in the cash flow from operating activity.
Accounts payable and accrued expenses 6,411,503 6,677,752
Some current liabilities include payroll taxes, accrued expenses, deferred income and accounts payable.
The next three chapters lay the base for developing a model of the cost of retiree health care for a firm and estimating accrued expenses and liabilities consistent with FASB 106 for a sample of firms.
Academy of Executives Statements of Financial Position December 31, 19X2 and 19X1 Assets 19X2 19X1 Cash and cash equivalents $ 410,199 $ 366,006 Accounts receivable 41,051 29,050 Prepaid expenses 9,337 2,210 Property and equipment 1,216,518 1,102,880 Other deposits 5,259 2,953 Investments 355,000 350,000 Total assets $2,037,364 $1,853,099 Liabilities and net assets Accounts payable $ 14,391 $ 46,408 Accrued expenses 13,403 15,104 Total liabilities 27,794 61,512 Net assets Unrestricted $1,308,669 $1,135,906 Temporarily restricted 345,901 305,681 Permanently restricted 355,000 350,000 Total net assets 2,009,570 1,791,587 Total liabilities and net assets $2,037,364 $1,853,099
Regarding the fee, it will be 19,000 per year payable quarterly and in advance, plus accrued expenses quarterly.
That accounted for its current liabilities of P190.046 billion and P564.072 billion of non-current liabilities that shall include its build-operate-transfer (BOT) lease obligations, accounts payable and accrued expenses, long-term liabilities and deferred collection of universal charges.
Following the transaction, the company has approximately USD 120,000 in cash on its balance sheet net of accrued expenses.