Expenses (such as wages, salaries, and utility charges) which are incurred but for which no payment is made during an accounting period. They are shown in the balance sheet as a current (short term) liability.
Jack is happier this week than last week because of the accrued liability.
They will be working on the accrued liability issue at tomorrow's meeting.
We can write off that accrued liability.
Is there a clause that specifies accrued liability?
Jim can explain what the accrued liability is.
Is there a single reason why accrued liability is so misunderstood?