Reviewed by David Kindness Fact checked by Vikki Velasquez An accrual has occurred but has not yet been paid for. This can ...

This can include work or services that have been completed and considered accrued expenses. Interest that has been charged or accrued but not yet paid is accrued interest. Examples of accrued ...

Interest expense is a general term used to describe the cost of borrowing money. It can have slightly different meanings depending on the context, but in corporate finance, interest expense is ...

With the accrual method, income and expenses are recorded as they occur, regardless of whether or not cash has actually changed hands. An excellent example is a sale on credit.