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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

In a careful manner.

accrued

/əˈkro͞od/

adjective verb

(of benefit or sum of money) received or accumulated in regular or increasing amounts over time. To carry over costs to the next accounting period.

liabilities

/ˌlīəˈbilədē/

noun other

state of being legally responsible for something. People, things that causes problems for someone.

creditors

/ˈkredədər/

noun other

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

current

/ˈkərənt/

adjective noun

Happening or being in the present time. Movement of water in a river, or air in the sky.

difference

/ˈdif(ə)rəns/

noun verb

Not of the same kind; unlike other things. alter coat of arms.

specifically

/spəˈsifək(ə)lē/

adverb

in exact and clear way.

probably

/ˈpräbəblē/

adverb

certainly.

payable

/ˈpāəb(ə)l/

adjective noun

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

company

/ˈkəmp(ə)nē/

noun verb

Being with another person rather than alone. 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. Paying money for something (big). offset against taxable income.

balance

/ˈbaləns/

noun verb

Instrument for weighing things. To be steady by having equal weight on both sides.

incurred

/inˈkər/

verb

To bring something (bad) on yourself.

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