Unique Skill ID: KS1204B65GL24XD81P45

Accrued Liabilities

Accrued Liabilities is a specialized accounting skill that involves recording and tracking expenses or liabilities that have been incurred but not yet paid for by a company. These can include wages, interest, taxes, rent, and other expenses that are owed to third parties. Proper management of accrued liabilities is important for accurate financial reporting and budgeting, as well as avoiding penalties and interest charges for late payments. It requires a deep understanding of accounting principles and practices, as well as the ability to analyze financial data and make informed decisions.

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This Skill is part of Lightcast Open Skills, a library of over 32,000 skills used by schools, communities, and businesses that has become the standard language.
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