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Accounts payable vs accrued expenses

18,338 views

The Finance Storyteller

Video Language:

  • English

Caption Language:

  • {{captionLanguage | language_name}} ({{captionLanguage}})

Accent:

Speech Time:

99%
  • 7:06 / 7:07

Speech Rate:

  • 136 wpm - Conversational

Category:

  • Education

Tags :

Intro:

Video Vocabulary

closely

/ˈklōslē/

adverb

Nearby; just next to.

accrued

/əˈkro͞od/

adjective verb

Slowly increasing in amount over time. To carry over costs to the next accounting period.

liabilities

/ˌlīəˈbilədē/

noun other

state of being legally responsible for something. Some things that are owed to someone else, e.g. debt.

creditors

/ˈkredədər/

noun other

person or company to whom money is owing. People to whom money is owed.

current

/ˈkərənt/

adjective noun

belonging to present. Electricity flowing through wires.

difference

/ˈdif(ə)rəns/

noun verb

A thing or issue that people do not agree about. alter coat of arms.

specifically

/spəˈsifək(ə)lē/

adverb

As regards a particular thing; closely related to.

probably

/ˈpräbəblē/

adverb

That is likely to happen or be true.

payable

/ˈpāəb(ə)l/

adjective noun

Due to be paid; must be paid. debts owed by business.

company

/ˈkəmp(ə)nē/

noun verb

Good feeling from being with someone else. associate with.

financial

/fəˈnan(t)SHəl/

adjective noun

Involving money. organization's finances.

suppliers

/səˈplī(ə)r/

noun other

person or organization that provides something needed such as product or service. Organizations that provide products or services.

expenses

/ikˈspens/

noun other verb

money spent on something. Monies you have to pay to do part of your job. offset against taxable income.

balance

/ˈbaləns/

noun verb

Money remaining after paying costs. To make two or more things equal.

incurred

/inˈkər/

verb

To bring something (bad) on yourself.

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