Passive: On a closing statement, items of expense that are incurred but not yet payable, such as interest on a mortgage loan or taxes on real property. Active: Expenses prepaid within the current business year which must be imputed to the new business year. A rent prepayment entitles the company to use its rented facilities during the new business year.
Related information about accrued items:
- What is accrued items? definition and meaning
Definition of accrued items: Passive: On a closing statement, items of expense that are incurred but not yet payable, such as interest on a mortgage loan or taxes ...
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In a closing statement, items of expense that are incurred but not yet payable, such as interest on a mortgage loan or taxes on real property.
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When we begin to talk about "accrued" items in relation to accounting transactions, we begin to go further into the reporting side of accounting, and in order to ...
- ACCRUED ITEMS - Boston Apartments
ACCRUED ITEMS. On a closing statement, items of expense that are incurred but not yet payable, such as interest on a mortgage loan or taxes on real property.
- DRS: 12-717(c)(3)-1, Accrued items not to be included in - CT.gov
12-717(c)(3)-1, Accrued items not to be included in subsequent taxable periods Abstract: DRS has reproduced this regulation. This is an unofficial copy. Official ...
- Adjusting Entries - QuickMBA
The following illustrates adjustments for accrued and deferred items. Accrued Items. As an example of an accrued item, consider the accrual of interest revenue .
- Adjusting Entries - NetMBA
Accrued items are those for which the firm has been realizing revenue or expense without yet observing an actual transaction that would result in a journal entry.
- accrued items (RE) (SAP Library - Glossary)
Real Estate Management (RE). Expenses paid in arrears and revenues received in arrears that are transferred to an income statement in a prior period by using ...