03/09/2026
๐๐๐๐ ๐๐๐ ๐๐๐๐ #5
๐ ๐๐๐๐ซ๐ฎ๐๐
Ever heard of getting something now but paying for it later? Thatโs basically what accrued means! ๐
In accounting, something is accrued when it has already been earned or incurred, even though the cash has not yet been received or paid.
For example, an employee has already worked for the month, but their salary will be paid next month. The salary is already accrued because the expense has happened even though the payment hasnโt been made yet.
In simple words: it already happened, but the cash comes later. ๐ก
And thatโs our FIFTH TERM! ๐
Stay tuned for more accounting terms as we make every word easier to understand!
๐ง๐๐ฅ๐ ๐ถ๐. ๐ง๐๐๐ ๐ถ๐. ๐ ๐ฎ๐ธ๐ฒ ๐๐ฒ๐ป๐๐ฒ ๐ผ๐ณ ๐ถ๐. ๐๐
โ๐ป: Steffi Elvambuena, G11 Executive VP
