accrued expense

Also found in: Dictionary, Thesaurus, Medical, Legal.

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.

Mentioned in ?

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

Since our currently available cash and cash equivalents is not adequate to meet our accounts payable and accrued expenses, we have engaged a law firm that specializes in work-out and bankruptcy matters to assist us in attempting to negotiate with and reduce amounts owed to our vendors.

Repros Therapeutics Inc. Reports Second Quarter 2009 Financial Results and Provides Update

The decrease in operating and net income is primarily due to the same realization of prior years' revenue plus the reversal of accrued expenses related to a legal settlement of approximately $61,000 - both of which occurred in the quarter ended September 30, 2007.

Comtex Reports First Quarter Fiscal 2009 Financial Results

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

Excluding the recognition of prior year revenue and the reversal of accrued expenses related to a legal settlement, net income decreased by approximately $61,000 from the first quarter of the prior fiscal year.

Comtex Reports First Quarter Fiscal 2008 Financial Results

TABLE OMITTED] Footnotes: (a) The difference between total assets and total net assets is due primarily to the issuance of preferred stock and/or the Fund's use of borrowings; total assets do not include accrued expenses, other liabilities, borrowings and the redemption value of preferred stock, if any.

Western Asset Emerging Markets Income Inc. Announces Financial Position as of May 31, 2007

Non-interest expenses for 2006 include accrued expenses, net of the related income tax benefits, of approximately $102,000 for retirement plans that we implemented in 2006.