| Accrued liabilities (accrued expenses) | Short-term obligations for services of a continuing nature that accumulate over time. Examples include interest, taxes, rent, salaries, and pensions. They generally are not evidenced by invoices or statements.
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| Confirmation | Direct communication with vendors or suppliers to determine the amount of an account payable. Represents high-quality evidence because it is a document created outside the client organization and transmitted directly to the auditors.
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| Consignment | A transfer of goods from the owner to another person who acts as the sales agent of the owner.
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| Subsequent period | The time extending from the balance sheet date to the date of the auditors' report.
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| Trade accounts payable | Current liabilities arising from the purchase of goods and services from trade creditors, generally evidenced by invoices or statements received from the creditors.
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| Vendor's statement | A monthly statement prepared by a vendor (supplier) showing the beginning balance, charges during the month for goods or services, amounts collected, and ending balance. This externally created document should correspond (except for timing differences) with an account in the client's accounts payable subsidiary ledger.
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| Voucher | A document authorizing a cash disbursement. A voucher usually provides space for the initials of employees performing various approval functions. The term voucher may also be applied to the group of supporting documents used as a basis for recording liabilities or for making cash disbursements.
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| Voucher register | A journal used in a voucher systemto record liabilities requiring cash payment in the near future. Every liability recorded in a voucher register corresponds to a voucher authorizing future payment.
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