Accrued expense is a type of cost that has been incurred but not yet paid during an accounting period. These expenses are accounted for on the books until they are paid off.
Accrued interest refers to the interest that has been earned but not yet paid or received. It is often reported during interim periods between scheduled interest payments, and it accumulates from the date of issuance or the time of last interest payment.
Loan modification refers to changes made to the original terms of an existing loan agreement between the lender and borrower, usually to prevent foreclosure and provide financial relief to the borrower.
