ACCRUED PAYROLL Definition

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ACCRUED PAYROLL is a liability arising from employees salary expense that has been incurred but not paid.

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ACCRUAL BASIS OF ACCOUNTING is wherein revenue and expenses are recorded in the period in which they are earned or incurred regardless of whether cash is received or disbursed in that period. This is the accounting basis that generally is required to be used in order to conform to generally accepted accounting principles (GAAP) in preparing financial statements for external users.

STRONG, from a corporate perspective, usually means having or wielding force or authority within that entitys market segment or niche.

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