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procedure for accounting

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(Querist)
04 July 2008 hi,
i have a doubt,when will the expenditure payable and outstanding expenditure exists
(according to my thinking,payable exists when the right to payment exists and outstanding exists when the payment is not been made till the balance sheet date)
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PC-www.bharadwajinstitute.com

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PC-www.bharadwajinstitute.com (Expert)
04 July 2008 Expenditure payable and outstanding means the same...

Only when an expense becomes due, it becomes payable and when the amount is not paid...it is called as outstanding
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CA. A. Kumar

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CA. A. Kumar (Expert)
04 July 2008 VIEW OF PC IS CORRECT
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CA Rajesh S

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CA Rajesh S (Expert)
04 July 2008 they are one and the same.
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Amit Bajaj

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Amit Bajaj (Expert)
04 July 2008 You are right
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