What is Arrears? | Glossary by Mojek Money

Other glossary terms

Account Statement

Summary of transactions in a financial account

Accounts Payable

Amount owed to suppliers

Accounts Receivable Financing

Financing secured by accounts receivable

Accounts Receivable Turnover

Ratio measuring how effectively credit sales are collected

Accrued Benefit

Pension benefit earned to date

Accrued Dividend

Dividend earned but not yet received

Accrued Expense

Expense recognized before it’s paid

Accrued Income

Income earned but not yet received

Accrued Interest

Interest earned but not yet paid

Accrued Liability

Expense recognized but not yet paid

Accrued Market Discount

Gain on a bond bought below par value

Accrued Revenue

Revenue earned but not yet received

Accumulated Benefit Obligation (ABO)

Estimated pension liability based on current salary

Accumulated Deficit

Negative retained earnings balance

Accumulated Depreciation

Total depreciation taken on an asset over time

Accumulated Earnings

Profits retained for reinvestment rather than paid out as dividends

Accumulated Funding Deficiency

Shortfall in required pension plan funding

Accumulated Interest

Interest that has accumulated but not yet paid

Accumulated Other Comprehensive Income (AOCI)

Gains and losses excluded from net income

Accumulation Account

Account used for reinvesting investment earnings

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Arrears