Definition The current liability account which reports the amount of salaries earned by a company’s employees, but which have not yet been paid by the company. Related Q&A Are salaries and wages part of expenses on the income statement?
The accounting field typically tends to be a 9-5 job; however, there are certain time periods when longer hours may be required. This is particularly common during tax time. Accountants who are self-employed may need to work longer hours during tax time than accountants employed in other sect...
In accounting, do you capitalize overhead costs of acquisition? Is salaries payable considered financing activity in accounting? Are supply expenses an asset in accounting? What kind of cost is salary in accounting? Does gain on PP&E go in an income statement in accounting? Do accounting softwares...
d. Salaries payable What are Assets Assets are anything of economic value to a business which are then used to support its daily business operations in order to generate revenues. Common Assets owned by a business include Cash, Accounts Receivable...
Accounting: Accounting is basically classified into three divisions which are cost accounting, management accounting and financial accounting. All three divisions consist of different activities of an organization like financial activities would...