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2. Accrual - Wikipedia

   en.wikipedia.org/wiki/Accrual

   In accounting and finance, an accrual is an asset or liability that represents revenue or expenses that are receivable or payable but which have not yet been paid. In accrual accounting, the term accrued revenue refers to income that is recognized at the time a company delivers a service or good, even though the company has not yet been paid.

3. Accrued liabilities - Wikipedia

   en.wikipedia.org/wiki/Accrued_liabilities

   Accrued liabilities are liabilities that reflect expenses that have not yet been paid or logged under accounts payable during an accounting period; in other words, a company's obligation to pay for goods and services that have been provided for which invoices have not yet been received. [1]

4. Adjusting entries - Wikipedia

   en.wikipedia.org/wiki/Adjusting_entries

   In accounting, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. The revenue recognition principle is the basis of making adjusting entries that pertain to unearned and accrued revenues under accrual-basis accounting. They are ...

5. Assets vs. Expenses: Understanding the Difference - AOL

   www.aol.com/finance/assets-vs-expenses...

   Assets and expenses are two accounting terms that new business owners often confuse. Here’s what each term means and how to use them in accounting. Assets vs. Expenses: Understanding the Difference

6. Matching principle - Wikipedia

   en.wikipedia.org/wiki/Matching_principle

   Accrued expenses are liabilities with uncertain timing or amount, but the uncertainty is not significant enough to classify them as a provision. An example is an obligation to pay for goods or services received, where cash is to be paid out in a later accounting period. The amount is deducted from accrued expenses when it is paid.

7. Basis of accounting - Wikipedia

   en.wikipedia.org/wiki/Basis_of_accounting

   The accrual basis is a common method of accounting used globally for both financial reporting and taxation. Under accrual accounting, revenue is recognized when it is earned, and expenses are recognized when they are incurred, regardless of when cash is exchanged. [7]