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what is the main difference between Outstanding & Accrued
Expenses?
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Answer / sandip goswami
Outstanding means an expense for which the due date has
passed. For eg. Salary was due on 30th sep but not paid, so
it will be an outstanding liability in the month of october.
Accrued means expenses that is going to occur in the near
future. eg Royalty, which is paid once in a year is divided
into a monthly basis so that it does not impact the P/L A/C
suddenly.
| Is This Answer Correct ? | 36 Yes | 4 No |
Answer / venkata sai kumar
Accrued expenses and outstanding expenses are similar but not same.
Accrued expenses are expenses incurred but not yet paid as due date has not occured.
Whereas in outstanding expenses, due date has come but not yet paid
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / sangeetha g
Outstanding Expenses means we have to pay which is already
received product/service from the supplier.
Accrued expenses means just we assume the particular
expenses may or may not receive the product or service in
future.
| Is This Answer Correct ? | 18 Yes | 18 No |
Answer / sudheer
there is no difference b/w outstaning and accrued
the word outstanding is commonly used to represent expenses
outstaning on the other hand accured is using income
outstanding(accrued income)
| Is This Answer Correct ? | 7 Yes | 20 No |
Answer / pravin kamble
There is no difference between outstanding & accrued
expenses, because when we say outstanding or accrued
expenses, that meanse the particluar even had happed, but
we have not made the payment for that even within that
particular period.
In both way this nothing but our unpaid expenses.
| Is This Answer Correct ? | 5 Yes | 27 No |
Explain . 1. Retail Invoice. 2. Tax Invoice. 3. Commercial Invoice. 4. E1 Invoice.
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