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Accrued and Outstanding

Mridul Mittal (7 Points)

22 December 2018

I'm having a doubt
Accrued and Outstanding are they same...
Please help me

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3 Replies

Pushkar Nagda (2 Points)
Replied 26 December 2018

'Accrued ' is normally used with reference to Asset (eg Interest Income Accrued but not Due ). ' Outstanding ' is normally used with reference to Liability.

Aman Kumar (Accounts Executive) (744 Points)
Replied 26 December 2018

Accrued expenses: Accrued expenses are the expenses whose payments are due i.e. accrued expenses are included as the liability. Consider an example: Goods received but no invoice delivered for payments.

Outstanding expenses: Outstanding expenses symbols when the invoice sent are due to pay. It is the type where the payments are not made immediately, they may be late or in advance.