Interest accrued and due

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suresh (Querist)
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30 November 2011 what is the difference between Interest accrued and due & Interest accrued but not due.Please explain with example and interest accrued and due falls under which head. Thanks in advance.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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30 November 2011 Interest accrued and due means time given pay interest is over interest accrued but not due means interest computing period is over but their is time to payment. For example the interest calculating on last day of every month(30th or 31st as the case may be) and the time given to pay up to 5th of the next following month. in such case from 1st of the following month called interest accrued but not due from 6th of the following month onwards interest accrued and due. Both are shows as income/expenses what ever may be but interest accrued and due is called as overdue interest.
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