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An accounting expense recognized in the books before it is paid for. These expenses are typically periodic and documented on a company's balance sheet due to the high probability that they will be collected.
accrual Expenses are Expenses that actually incurred but not yet pad ,or billed, so they reported as Liabilities until they paid
accrual expenses are those which has been occurred in the past financial year but still payable and the nature is current liability
Accrued expense is expense which has been incurred but not yet paid. Expense must be recorded in the accounting period in which it is incurred.
it is the the value of services or goods provided in the last periods and has not paid till now
in other words it is expenses pertain other last period
it is current liabilities
An accrued expense is an expense that has been incurred, but for which there is not yet any expenditure documentation. In place of the expenditure documentation, a journal entry is created to record an accrued expense, as well as an offsetting liability.
In the absence of a journal entry, the expense would not appear at all in the entity's financial statements in the period incurred, which would result in reported profits being too high in that period.
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