APT Initiatives
APT Business & Economics Resources
Minimising Workloads, Maximising Performance
Established in 1999

Special Items


Expenses incurred during an accounting period for which invoices have not been received at the end of that accounting period. The amount likely to be owed up to the point of the balance sheet is estimated and included as a current liability. When accruals are invoiced the value is moved from accruals to creditors. As the cost relates to a particular accounting period, it must also be charged to, and thus included as an expense on, the income statement (or profit and loss account) for the period. See accrual principle.

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