Accounts payable (AP) - Financial definition
Concise definition of the term accounts payable
Accounts payable figuring in a company's balance sheet are amounts that are owed by the company to its suppliers.
Comprehensive definition of the term accounts payable
Whenever a company purchases something on credit, i.e. without immediate payment, it results in accounts payable. Most suppliers grant between 30 and 90 days in terms of payment.