Capital Market vs Stock Market A corporation that needs to raise funds for business purposes will have to obtain such funds from either the stock markets or capital markets. Stock markets and capital markets are essential for the economic development of any country. These two concepts are easily confused by many because, when considering capital […]
Difference Between Costing and Budgeting
Costing vs Budgeting It is essential for any business to utilise comprehensive methods to evaluate their costs and keep their expenses under control. Both costing and budgeting are used by businesses for this very purpose. Costing and budgeting are different from each other, because costing involves keeping track of the costs expected to incur in […]
Difference Between Cash Accounting and Accrual Accounting
Cash Accounting vs Accrual Accounting A business uses an accountant with sound accounting knowledge to prepare a company’s financial statements. These financial statements can be prepared by using either of the two methods; cash accounting or accrual accounting. Cash accounting and accrual accounting are distinguished from each other based on the types of businesses that […]
Difference Between Equity and Debt Financing
Equity vs Debt Financing Any firm, planning of starting up a new business or expanding into new business ventures, require adequate capital to do so. This is the point at which the company’s top managers are faced with a decision on their hands, as to whether they should go forward and obtain equity capital or […]
Difference Between Accruals and Provisions
Accruals vs Provisions Accruals and provisions are both essential aspects of a firm’s financial statements, and serve the purpose of providing users of financial information an insight regarding the company’s current financial status and the changes expected in the future. Both accruals and provisions are equally important, and the accountant must ensure that they are […]
Difference Between Flexible Budget and Fixed Budget
Flexible Budget vs Fixed Budget The preparation of a budget is essential for any business that wishes to keep its costs under control. Budgets also assist firms in planning business ventures, coordinating business activities and communicating information to the company’s stakeholders. Fixed budgets and flexible budgets are different from each other in terms of the […]
Difference Between VAT and Sales Tax
VAT vs Sales Tax | Sales Tax vs Value Added Tax It is a commonly known fact that for any goods or services purchased a component of tax needs to be paid. Sales tax and VAT (value added tax) are consumption taxes, which are taxes that are charged when a consumer spends on purchasing goods […]
Difference Between Management Accounting and Cost Accounting
Management Accounting vs Cost Accounting Management accounting and cost accounting are of great importance to any business, as both forms of accounting help in the decision making process when analyzing how best to allocate a company’s scarce resources. Cost accounting is a crucial part of management accounting and makes up a vital component in managing […]
Difference Between Commercial Paper and Commercial Bill
Commercial Paper vs Commercial Bill We keep hearing terms like Commercial Paper (CP) and Commercial Bill in financial and corporate circles without ever understanding their significance and importance. These financial instruments serve two different purposes. Despite having the word commercial prefixed, there are many differences between the two. This article attempts to highlight the features […]
Difference Between Financial and Taxable Income
Financial vs Taxable Income Income is simply the total revenue for a period of time. From a business point of view, survival of an entity depends on its income or revenue. Income is expressed for a specific period. For example, one may say that my monthly income is $2000, or a company may say we […]
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