Accrued expenses are classified in the statement of financial position as a:

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Accrued expenses represent expenses that a company has incurred but have not yet been paid. They are considered as a current liability because they are expected to be paid within the next year. Current liabilities are obligations that are due within one year, and they are classified as such on the statement of financial position to give a clear picture of a company's current financial obligations.

Accrued Expenses Are Classified in the Statement of Financial Position