Sales vs Turnover Sales and turnover are concepts that are similar to one another and are often used interchangeably on a company’s income statement. Sales and turnover represent the total value of the goods that are being traded by a firm which may either be from their core activities or from non-core activities. The […]
Difference Between Audit and Assurance
Audit vs Assurance Auditing and assurance are processes that go hand in hand, and are usually used when evaluating a company’s financial records. Auditing and assurance are parts of the same process of verifying the information on the company’s accounting records for accuracy and compliance with the accounting standards and principles. Despite these similarities, […]
Difference Between Audit and Inspection
Audit vs Inspection Audit and inspection are carried out to verify that a certain set of standards, guidelines, rules, and norms are being met. Audits are carried out in greater depth than inspections, and they usually require a longer period of time. In contrast, inspections are less formal and can be done on a […]
Difference Between Bond and Loan
Bond vs Loan Bonds and loans are similar to one another in that they perform a similar function by lending money for which interest is charged. While the interest on loans can be fixed or variable, the interests on bonds are usually fixed. Bonds and loan operate in quite the same manner; however, there […]
Difference Between Duty and Tariff
Duty vs Tariff Duties and tariffs are both forms of taxes that are imposed on the import and export of goods to and from foreign countries. Since both are taxes, they are not voluntarily offered and are usually forced onto businesses and individuals. Duties and tariffs are quite similar to one another in their […]
Difference Between Tax and Levy
Tax vs Levy Any individual, firm, corporation, or legal entity will have to make a payment to their country’s government known as a tax payment. The funds that are collected through tax is the largest income that the government receives and is used for the running of government, investment, development, infrastructure, healthcare, public safety, […]
Difference Between Purchase and Acquisition (Method of Accounting)
Purchase vs Acquisition (Method of Accounting) Mergers and acquisitions are complex scenarios in which one firm combines/purchases another firm’s assets, liabilities, technology, knowhow, innovation, patents, trademarks, etc. The accounting methodologies that are used in the process of recording such large transactions are also quite complex. Two such accounting methods are acquisition accounting and purchase […]
Difference Between NASDAQ and Dow Jones (DJIA)
NASDAQ vs Dow Jones (DJIA) The Dow Jones Industrial average (DJIA) and NASDAQ Composite Index are indexes that track the movement of a number of different stocks. The DJIA is made of companies that are traded on the New York Stock Exchange while the NASDAQ index is composed of companies that are traded on […]
Difference Between Movement and Shift in Demand Curve
Movement vs Shift in Demand Curve Movement along the demand curve and shift in the demand curve are concepts that are closely studied in economics when discussing the forces of demand and supply. The demand curve illustrates the total quantity demand for a product at varying prices. The movement along the demand curve and […]
Difference Between Middle Class and Working Class
Middle Class vs Working Class Middle class and working class are two groups of people who are in different levels of the social hierarchy due to their differing levels of education, values, lifestyles, jobs, and social grouping. The middle class is between the upper class and working class and the working class is just […]