What is meant by acceptance outstanding?

Letters of Credit outstanding - this account arises out of the issuance of letters of credit for which the bank obligates itself to pay or guarantee payment. The bank has a right of recourse against the customer whose credit it substitutes.

Acceptance outstanding - this is similar to the account letters of credit outstanding except that it makes the bank's obligation more real than contingent. the bank will honor the drafts presented to it and will also have the right of recourse against the customer. The acceptance makes the instrument easily negotiable and more acceptable for discounting.

source:

Banking

theory and practice

by: Mercedes M. Leuterio & Consuelo B. Estepa