Accrued Expenses vs Accounts Payable - What is the Difference?

Accrued Expenses and Accounts Payable are both accounting terms for costs that have been incurred and recognised in the accounts but have not yet been paid. But while they appear to be the same thing, there are some differences.

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Timestamps:
00:00 Accrued Expenses vs Accounts Payable - What is the Difference?
00:08 Accrued Expenses vs Accounts Payable
01:13 Accrued Expenses vs Accounts Payable Trade Creditors
02:00 Accrued Expenses vs Accounts Payable

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