Key Difference – Master Budget vs Flexible Budget The key difference between master budget and flexible budget is that master budget is a financial forecast that contains all budgeted revenues and costs for the upcoming accounting year whereas flexible budget is a budget that is adjusted by incorporating the changes in the number of […]
Difference Between Capital Budget and Revenue Budget
Key Difference – Capital Budget vs Revenue Budget The key difference between capital budget and revenue budget is that capital budget assesses the long-term financial viability of investments by comparing future cash inflows and outflows whereas revenue budget is a forecast on revenue that will be generated by the company. Both these type of […]
Difference Between Actual Cost and Standard Cost
Key Difference – Actual Cost vs Standard Cost Actual cost and standard cost are two frequently used terms in management accounting. The key difference between actual cost and standard cost is that actual cost refers to the cost incurred or paid whereas standard cost is an estimated cost of a product considering the material, […]
Difference Between Term Loan and Working Capital Loan
Key Difference – Term Loan vs Working Capital Loan The key difference between term loan and working capital loan is that term loan is a form of borrowing where the payments can be made over a predetermined period of time in regular intervals whereas working capital loan is a loan taken out to finance […]
Difference Between Cash Budget and Projected Income Statement
Cash Budget vs Projected Income Statement The difference between cash budget and projected income statement is that cash budget includes the estimates of cash inflows and outflows for the accounting year whereas projected income statement provides an estimation of revenues and costs. Both cash budget and projected income statement are prepared as a part […]
Difference Between Marginal Analysis and Break Even Analysis
Key Difference – Marginal Analysis vs Break Even Analysis The two concepts marginal analysis and break even analysis are widely used in management decision making to decide selling prices and to control costs. The key difference between marginal analysis and break even analysis is that marginal analysis calculates the revenue and costs associated with […]
Difference Between Master Budget and Cash Budget
Key Difference – Master Budget vs Cash Budget The key difference between master budget and cash budget is that master budget is a financial forecast that consists of all the revenues and expenditure whereas cash budget records the predicted results of cash inflows and outflows for the accounting period. Therefore, cash budget becomes a […]
Difference Between Job Order Costing and Process Costing
Key Difference – Job Order Costing vs Process Costing Job order costing and process costing are systems of collecting and allocating costs to units of production. The key difference between job order costing and process costing is that job costing is used when products are manufactured based on customer specific orders whereas process costing […]
Difference Between Budget and Budgetary Control
Key Difference – Budget vs Budgetary Control The key difference between budget and budgetary control is that budget is an estimation of revenues and costs for a period whereas budgetary control is the systematic process where management uses the budgets prepared at the beginning of the accounting period to compare and analyze the actual […]
Difference Between FIFO and Weighted Average
Key Difference – FIFO vs Weighted Average FIFO (First in First Out) and weighted average method are inventory valuation methods. Inventory is one of the most vital current assets and some companies operate with significant amounts of inventories. Proper valuation of inventory is essential to show effective results in financial statements. The key difference […]
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