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hello in this lecture weamp;#39;re going to find the term of accrued expenses ing to fundamental accounting principles while 22nd edition that the definition of accrued expenses is costs incurred in a period that are both unpaid and unrecorded adjusting entries for recording accrued expenses involve increase in expenses and increasing liabilities letamp;#39;s break that down a bit weamp;#39;re talking about costs that have been incurred so under the matching principles of the accrual principle that means if itamp;#39;s been incurred then we should be recording the expense at the point in time that it has been incurred ing to accrual principles but at this point in time it has been unpaid whether that be by cash or some other means we havenamp;#39;t paid the cash or some other payment yet and it has not yet been recorded at this point in time what that means is that the accrued expenses are something that we will need to adjust at the end of the time period so weamp;#39;re going t
