7 Ways to Honor Your Father. You may remember the story of Butch OâHare, the military hero we featured a few months ago. Well, several of our subscribers pointed us to who Butchâs father was â Edward J. âEddieâ OâHare. Eddie was a lawyer who worked with Al Capone. Details to the extent of this relationship are uncertain.
accrued revenue definition. Revenue that has been earned but not yet invoiced to the customer.
What is accrued expense? An accrued expense is an accounting term referring to an expense that is owed but not yet paid for (also known as an accrued liability). For more on other kinds of liabilities, see the encyclopedia entry liability. The accrued expense concept is one of several accounting conventions made necessary by the use of accrual accounting, in which revenues are recorded when earned and expenses are recorded when owed.