I'm having a doubt
Accrued and Outstanding are they same...
Please help me
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.
Vinod lalwani
(28 Points)
Replied 27 December 2018
Accrued means Right to receive is arise but it is not due, while outstanding is accrued as well as due
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