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.
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References in periodicals archive ?
Following the discharge of the Irelandia loan facility and other accrued expenses and liabilities, it is expected that Merrion will retain approximately EUR 4m cash, and a number of IP assets.
Merrion Pharmaceuticals Sells IP Assets to Novo Nordisk for USD 3m
A matching principle applied to accrued expenses owed by a domestic taxpayer to a related foreign person.
IRS relaxes requirement that most payments to related foreign entities may be deducted only when paid
978 26,785 Investments-Endowment 50 50 Fixed Assets, Net 3,433 3,019 Trust Assets-Deferred Compensation 786 716 TOTAL ASSETS S 44,109 $ 43,185 LIABILITIES AND NET ASSETS: Current Liabilities: Accounts Payable S 634 S 577 Accrued Expenses 1,544 1,188 Deferred Revenues 8,703 9,777 Deferred Lease Costs, Current Portion 200 194 Total Current Liabilities 11,081 11736 Deferred Lease Costs, Less Current Portion 1,851 1,844 Deferred Compensation 786 716 TOTAL LIABILITIES 13,718 14,296 Commitments Met Assets: Unrestricted: Board Designated 7,500 6,500 Undesignated 20,921 20,300 Temporarily Restricted 1,920 2,039 Permanently Restricted 50 50 Total Net Assets 30,391 28,889 TOTAL LIABILITIES AND NET ASSETS $ 44,109 $ 43,185
Combined statements of financial position
847 LIABILITIES AND NET ASSETS: Current Liabilities: Accounts Payable $577 $ 328 Accrued Expenses 1,188 1,234 Deferred Revenues 9,777 10,411 Deferred Lease Costs.
Combined statements of financial position

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