Definition: Accounts Payable is an accounting transaction that reflects money owed by the firm to entities (typically suppliers) on the purchase of products or services on credit. Includes also expenses (advertising, travel, entertainment, office supplies and utilities). |
More on accounting and auditing: Accounting Cycle, Accounts Receivable, Accrued Revenue, Amortization, Appreciation, more on accounting and auditing... MBA Brief provides concise yet precise definitions of organizational concepts, management methods, and business models as taught in an MBA program. We keep it short and provide links to high-quality websites where you can learn more about your topic. |
© 2024 MBA Brief - Last updated: 6-12-2024 - Privacy | Terms