Accrued expenses are current period expenses but will be paid in the coming period. Examples of accrued expenses include accounting fees of an accountant, payroll expense etc.

Accrued Expenses

Accrued expenses or accrued charges are current period expenses but not paid until the current period is expired. Accrued expenses are recognized in the current period as expenses but will be paid on a later date. Accrued expenses are just opposite of prepaid expenses, where expense is paid before it is recognized as an expense in the current period.

To read more about accrued expenses see the explanation accrued expenses as known liabilities.