Definitions for "Accrued Income"
Income that has been earned but not yet received. For instance, if you have a non-registered Guaranteed Investment Certificate (GIC), Mutual Fund or Segregated Equity Fund, growth accrues annually or semi-annually and is taxable annually even though the gain is only paid at maturity of your investment.
Income that is due but not received at the date of the financial statement.
Earned income that has not yet been received; for example mutual fund gains that accumulate and are taxed annually but are paid only at maturity.