What is the term for cash that is received or paid after the revenues or expenses have already been recognized?

The term that describes cash that is received or paid after revenues or expenses have already been recognized is accruals. In accounting, the accrual basis of accounting requires that revenues be recorded when they are earned, regardless of when cash is received, and expenses be recorded when they are incurred, regardless of when they are paid. Therefore, any cash transactions that occur after the recognition of these revenues or expenses fall under the category of accruals.

Accruals facilitate a more accurate representation of a company's financial condition, as they align the recording of financial events with the periods to which they pertain, rather than when cash changes hands. For example, if a company recognizes revenue for services performed in December but does not receive payment until January, this situation exemplifies the concept of accruals—where the revenue is recognized before the associated cash is received.