Accrued

Acquired or accumulated gradually over time, particularly in the context of financial or legal contexts. The term 'accrued' often refers to the growth of interest, expenses, or benefits that have collected but have not yet been realized in cash or payment.

Accrued meaning with examples

• After a year of hard work, the employee was pleased to see that her vacation days had accrued to a significant amount, allowing her to take an extended break.
• The bank statement showed that interest had accrued on the savings account, indicating that the money was working for her.
• In accounting, the concept of accrued expenses refers to costs that have been incurred but not yet paid, affecting the company's financial statements.
• As the project manager, he noted that the team's efforts had accrued goodwill among stakeholders, enhancing future collaboration.
• During tax season, it's essential for individuals to report any accrued income that may affect their overall taxable earnings.