Accrued Items: In a closing statement, items of expense that are incurred but not yet payable, such as interest on a mortgage loan or taxes on real property.

 

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Accrued Items: In a closing statement, items of expense that are incurred but not yet payable, such as interest on a mortgage loan or taxes on real property.

Counterpart Items: Stocks whose price tends to rise when the economy is in recession or the market is bearish, and vice versa.

Cash-Equivalent Items: An accounting book that is composed of cash receipts plus disbursements. This balance is posted to the cash account in the ledger.

Extraordinary Items: Nonoperating gains and losses that are unusual in nature, infrequent in occurrence, and material in amount.

Prepaid Items: On a closing statement, items that have been paid in advance by the seller, such as insurance premiums and some real estate taxes, for which he or she must be reimbursed by the buyer.

Noncash Items: Items included in the determination of net income on an accrual basis that do not affect cash: examples are depreciation and amortization.

Accrued Weeks: Any unused weeks from the previous year that have been banked and are available for use this year. This will not be the same with all time shares so you should check your contract for furthe . . . View Full Definition

Accrued Market Discount: The rise in the market value of a discount bond as it approaches maturity (when it is redeemable at par) and not because of falling market interest rates.

Accrued Depreciation: 1. In accounting, a bookkeeping account that shows the total amount of depreciation taken on an asset since it was acquired, also called accumulated depreciation. 2. For appraisal purposes, . . . View Full Definition

Accrued Expenses: Expenses that the business has incurred for which it has not received, or will not receive, an invoice, and that have not yet been paid.