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General accounting
Use this category for general accounting terms.
Industry: Accounting
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General accounting
accrued future service benefit
Accounting; General accounting
Benefits credited to a participant's defined benefit plan based on the participant's eligible years of service that follow the plan's start date up to the most recent plan year.
accrued income
Accounting; General accounting
Amount earned in the current accounting period, but which will be received in a subsequent period.
accrued interest
Accounting; General accounting
Interest earned but not received (realized). For example, bonds usually pay interest every six months, therefore interest accrues between one interest payment and the next. The buyer of a bond pays ...
accrued liability
Accounting; General accounting
Debt, expense, or obligation incurred in an accounting period but chargeable or payable in another.
accrued revenue
Accounting; General accounting
Revenue earned in the current accounting period, but which will be collected in a subsequent period. Also called unrealized revenue.
accrued tax
Accounting; General accounting
Tax incurred on the income-to-date, but which is to be paid at the end of the accounting period.
accumulated adjustment account
Accounting; General accounting
An account used by S corporations which have retained earnings and profits are required to keep per the US tax code in order to assure that distributions receive the proper tax treatment. The account ...