Meaning of the Word
“Accrued” means accumulated or collected over time, typically referring to something that grows gradually, such as interest, benefits, or expenses.
Definitions and Meaning in English
- Accumulated over a period of time, especially referring to money, interest, or benefits.
- Gained or built up gradually, typically in relation to debts, costs, or earnings.
- To increase or accumulate, often without direct effort, over time.
- In accounting, to recognize revenues or expenses that have been earned or incurred but not yet recorded.
History and Origin
The word “accrued” comes from the Latin accruere, meaning “to increase” or “to grow.” The term entered English around the 14th century, initially used in legal and financial contexts to describe the gradual accumulation of something, particularly in relation to financial or legal obligations. Over time, the meaning broadened to refer to any form of gradual accumulation or buildup.
Detailed Explanation
“Accrued” is used to describe something that has gradually accumulated over time, particularly in financial contexts. For example, interest on a savings account or debts like taxes or salaries can be described as “accrued.” It typically refers to something that has been collected or built up in small increments, often without a person actively doing anything to accumulate it. In accounting, “accrued” refers to revenues or expenses that have been earned or incurred but have not yet been received or paid.
Example Sentences
- The company paid the accrued interest on the loan at the end of the year.
- The employee’s accrued vacation days were added to their benefits package.
- The bank will credit the accrued interest to your account at the end of each month.
- He was surprised by the amount of taxes that had accrued over the year.
- The business had accrued several debts due to unpaid invoices.
- The employee accrued enough hours of overtime to earn additional pay.
- They received a statement showing the accrued charges for their service usage.
- By the end of the month, she had accrued a significant amount of savings.
- The company must account for the accrued expenses in its financial records.
Synonyms with Short Explanations
- Accumulated – Built up or gathered over time, often in small increments.
- Gained – Acquired or accumulated, usually in relation to money or benefits.
- Collected – Assembled or gathered, often referring to amounts of something accumulated.
- Amassed – Gathered or accumulated, typically used in reference to wealth or resources.
- Incurred – Accumulated as a result of an action, often referring to costs or expenses.
Related Words with Short Explanations
- Interest – Money earned on savings or investments over time, often described as accrued.
- Liabilities – Financial obligations or debts that have accumulated or are owed.
- Dividend – A payment made by a corporation to its shareholders, often accrued over time.
- Receivables – Money owed to a business, typically described as accrued until payment is made.
- Payable – A financial obligation that has accumulated and is due for payment.
More Matches with Short Explanations
- Buildup – The gradual accumulation of something, such as debt or resources.
- Balance – The amount of money remaining, especially after accruals or deductions.
- Surplus – An amount that has accumulated beyond what is needed or expected.
- Debt – Money or obligations accumulated and owed, often referred to as accrued debt.
- Reserve – A fund or resource accumulated over time for future use or contingencies.
Antonyms
- Decreased
- Diminished
- Spent
- Paid
- Settled