Accrued expenses are obligations that businesses owe but haven't paid yet. These expenses often accumulate over time and are recorded on the financial statements at the end of the accounting period. There are several synonyms for accrued expenses, including outstanding expenses, accrued liabilities, or accrued payables. Other terms that can be used include accrued bills, unpaid expenses, or accrued costs. Regardless of the term used, accrued expenses are an essential part of a company's financial statements and must be accounted for accurately to provide a clear picture of the company's financial health. Proper management of accrued expenses can help a business maintain its operations, invest in growth, and plan for the future.