Difference Between Transparency and Accountability

Difference Between Transparency and Accountability

Transparency vs Accountability   Even though the terms Transparency and Accountability often go together, there is a difference between these two words. Both terms are used in a wide variety of settings such as in businesses, governance, and media. Transparency refers to conducting activities or performing actions in an open and clear manner. On the […]

Difference Between Bilateral and Multilateral Trade Agreements

Bilateral vs Multilateral Trade Agreements

Bilateral vs Multilateral Trade Agreements   Bilateral and Multilateral Trade Agreements are not uncommon terms, and that makes it easier to determine the difference between them. Indeed, although most of us might not be aware of their precise definition, we have a general idea as to their meaning. In simple terms, Bilateral refers to something […]

Difference Between Umbrella Company and Limited Company

Difference Between Umbrella Company and Limited Company

Umbrella Company vs Limited Company   Identifying the difference between umbrella company and limited company might appear to be somewhat difficult without knowing about both types of companies. In fact, most of us might not even have heard of the terms. Particularly, the term Umbrella Company can be new to most of us. Therefore, a […]

Difference Between Planned Economy and Market Economy

Planned Economy vs Market Economy

Planned Economy vs Market Economy   Though the aim of both planned economy and market economy are similar, the way the economic activities takes place in the economy contributes to the difference between them. Market economy and planned economy are two economic models that have the aim of making high productivity. Planned economy, as denoted by […]

Difference Between Compensation and Remuneration

Difference Between Compensation and Remuneration

Compensation vs Remuneration   Finding the difference between Compensation and Remuneration is indeed a tough one. The two terms have been used interchangeably or defined the same way countless number of times that it is difficult to draw a distinction. However, a common mistake is to think of Compensation as having the same meaning as Remuneration. […]

Difference Between Public and Private Administration

Public vs Private Administration

Public vs Private Administration   One difference between public and private administration that everyone knows is the profit. They also differ in their nature and the way they are governed. However, the terms public and private administration might appear somewhat technical for some. Indeed, they are not terms used in day-to-day conversation and one hears […]

Difference Between Policy Making and Decision Making

Policy Making vs Decision Making

Policy Making vs Decision Making   Between Policy Making and Decision Making there is subtle difference which many of us fail to apprehend. This is because, aside from hearing the terms Policy Making and Decision Making via news or other sources, we are not familiar neither are we properly acquainted with the meaning of each term. […]

Difference Between Skills and Attributes

Difference Between Skills and Attributes

Skills vs Attributes   Skills and Attributes, like Skills and Abilities, are two pairs of words that are often confused without understanding the difference between each term in their meanings. First, let us be reminded that as we speak of people and their capabilities, we use a variety of words. Attributes, skills, competencies are some of these […]

Difference Between Hard Work and Smart Work

Difference Between Hard Work and Smart Work

Hard Work vs Smart Work   As work plays a significant role in human life, let us see what is hard work, what is smart work, and what, in fact, is the difference between hard work and smart work. While some of us tend to enjoy the work that we engage in, some of us […]

Difference Between Breakeven Point and Margin of Safety

Difference Between Breakeven Point and Margin of Safety

Breakeven Point vs Margin of Safety   Difference between breakeven point and margin of safety is a necessary knowledge to have as Breakeven Point (BEP) and Margin of Safety (MOS) are two concepts that carry a significant importance in decision making under cost accounting. Both of these concepts deal with costs, sales volumes, selling prices […]