what is the difference between outstanding & accrued?
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Answer Posted / mukund inamdar
To give a best example-
The Credit Card -
Assuming the billing cycle is 5th to 4th of every month, and if we check the usage on 25th of the month, we might see some amount which would be "Unbilled"... It is an accrued expense for us and an accrued income for the Credit Card company. On the other hand, on 4th the bill gets generated and you see XXX amount payable is "Due" and we would have a date which is due date to repay this.. however if we do not pay after the due date it becomes "Outstanding"
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