Accrued cost,
Definition of Accrued cost:
The total value of goods or services recorded as a profit or loss. Often paid for at a later date, accrued cost is the result of an expense transaction. For example, a business that rents equipment for the purpose of hosting a special event will use the rental items and then pay the required fee at some point in the future.
Meaning of Accrued cost & Accrued cost Definition
