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what is the main difference between Outstanding & Accrued
Expenses?
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Answer Posted / 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 |
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