What does the word ACCRUED mean? Is there a conceptual difference between interest payable and accrued interest payable?

Dear brothe, there is no term as such accrued interest payble. Either it is accrued interest or interest payble and they are exactly the same. Meaning of accrued is also payble.

Accrued is something (can be income or expense) accumulated over a period of time. For eg. You may accrue interest payable on loan based on the calculation agreed between both the parties (on a monthly basis), however, it will only be classified as interest payable, once you have actually received an invoice (obligation to pay) from the other party.

The word accrued means what ever amount supposed to be paid but remained unpaid as on date of financial period is calculated and duly provided to get true and fair view.

There is no difference.

Accrued means carried forward to next accounting period

Accrued interest is the accumulated interest on your loan that the lender has charged but that hasn't been paid. Under the accrual rate method of accounting, the amount of interest that you have recognized as an expense but have not yet paid in cash to your lender is accrued interest payable, which is a liability.

There is no conceptual difference between the two terms. Both accrued interest or interest payable can be used.

to increase the amount or amount over period of time

EXPENSES WHICH ARE PAYABLE FOR CURRENT ACCOUNTING PERIOD BUT NOT PAID ARE ACCOUNTED AS ACCRUED EXPENSES SUCH AS ACCRUED SALARY, RENT ETC.

The word Accrued pertains to Income, the income which has been earned during the period, but not yet received in terms of money. Interest payable refers to the expenditure side i.e. the XYZ has to pay that sum while Accrued Interst refers to the income side which XYZ has earned but not received.

Accrued is the time when the service is done and liable to pay or receive the amount but in some cases like advance payment the amount gets accrued before the particular service is performed

Accrued means your setting up future payable. There is a difference between interest payable and accrued interest payable. In interest payable this is the amount to be paid while in accrued interest payable this is not yet due just anticipating the amuont to be paid to supplier this is not yet the final amount