accrued liability

noun

1. the amount of liability accumulated at a given time but not yet paid.

Example Sentences

The unfunded accrued liability, the amount of money that the system is short of being fully funded, rose by $1.5 billion to nearly $16 billion.

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In short, when we ask clients if accrued liability X has been paid within Y months of year-end, what we are trying to determine, whether we realize it or not, is whether “economic performance” has occurred with respect to the liability.

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There is one rather large exception to the rule that an accrued liability may not be deducted before economic performance has occurred.

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Under this test, a taxpayer may deduct an accrued liability if the first two prongs of the all events test are met, and economic performance occurs before the earlier of:

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Movers were using the recurring item exception to deduct the accrued liability for unpaid damage claims, but was that the proper treatment?

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