what is the difference between outstanding & accrual

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Accepted Answer

Outstanding refers to unpaid expenses while accrual refers to expenses that have been incurred but not yet paid.

Outstanding expenses are those that have not been paid yet, but are due to be paid in the future.
Accrual expenses are those that have been incurred but not yet paid, such as salaries or interest on loans.
Outstanding expenses are recorded as a liability on the balance sheet, while accrual expenses are recorded as an expense on the income statement.
Examples of outstanding expenses include unpaid bills or invoices, while examples of accrual expenses include salaries owed to employees or interest on a loan that has not yet been paid.

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