Revenues that meet the appropriate recognition criteria of the fund type involved, but are not realized until a subsequent accounting period. Also refers to Accrual Basis and Modified Accrual Basis.

Liabilities reflecting the obligation to pay for goods or services that have been incurred or received but not paid for by the end of the accounting period. Accrued liabilities related to refunds of revenue are offset to the revenue originally recorded.

Expenditures that meet the appropriate recognition criteria of the account type involved but have not been paid. Accrued expenditures are expected to be paid in a subsequent accounting period.

The basis of accounting whereby revenues are recognized when they are earned and measurable regardless of when collected, and expenses are recorded on a matching basis when incurred. All proprietary and fiduciary funds use the accrual basis of accounting.

The three-character alpha/numeric code assigned by OFM to identify each account. (See the Fund Reference Manual.)