Financial reporting - balance sheet - liabilities.
An amount owing - but not yet invoiced - for:
- Services or goods received before the end of the accounting period; or
- Other economic benefits enjoyed before the end of the accounting period.
An accrued expense is a form of liability, because it represents cash that will have to be paid out in the future, for a benefit that has already been received.
Accrued expenses may include estimates about the amounts of final future payments, or their likelihood, or both.
Also known as an accrual.