for example, Outstanding expenses means - expenses to be 
paid - 
accrued means, for a fixed deposit, amt. of interest 
portion for the deposit amount as on date.

outstanding exp is an expense which is incurred and needs 
to be paid...whereas accrued exp is an exp which is accrued 
but not paid..it can be carried forward for a longer 
time,,,whereas outstanding exp cannot gbe kept outstanding 
for a long period

Accrued or Outstanding 
    Earned but not received
Outstsnding income has to be added to the respective income 
on the credit side.
Outstanding expenses added to the respective indirect 
expenses on the debit side.

both are the same thing