Bank Draft vs Certified Cheque Bank draft and certified cheque are among the different services banks offer to their customers, as such it is beneficial to know the difference between bank draft and certified cheque. More specifically, bank drafts and certified cheques are both payment mechanisms that are made available to bank customers. Both bank […]
Difference Between Factoring and Bill Discounting
Factoring vs Bill Discounting As both factoring and bill discounting are sources of short term finance which are offered by banks and financial institutions, knowing the difference between factoring and bill discounting is nothing but helpful. Factoring and bill discounting offer sellers and traders the facility to collect their receivables faster without having to […]
Difference Between Sales Ledger and Purchase Ledger
Sales Ledger vs Purchase Ledger As sales and purchase ledgers are two of the sub-ledgers used in the practice of accounting, it is useful to know the difference between sales ledger and purchase ledger. Sales ledger and purchase ledger can be identified as two sets of sub-ledgers used to record detailed sales and purchases […]
Difference Between Capital Reserve and Reserve Capital
Capital Reserve vs Reserve Capital People tend to confuse capital reserve and reserve capital as the same thing as they sound somewhat similar, but despite their seemingly similar sound, there is some difference between capital reserve and reserve capital. While capital reserves arise from capital profits, reserve capital is the share capital that is […]
Difference Between Credit Sales and Accounts Receivable
Credit Sales vs Accounts Receivable As most of the business organizations, nowadays, offer credit facilities to their customers, it is very useful to know the difference between credit sales and accounts receivables. Businesses allow them to pay for the goods and services that they purchase at a later date (within specifically given / agreed […]
Difference Between Accounts Payable and Accounts Receivable
Accounts Payable vs Accounts Receivable Accounts payable and receivable are two important factors in the decision making of working capital and, therefore, it is valuable to know the difference between accounts payable and accounts receivable. Every business organization typically deals with numerous credit transactions in its day-to-day activities. As a result of these credit transactions, […]
Difference Between Bankruptcy and Debt Consolidation
Bankruptcy vs Debt Consolidation Debt consolidation and bankruptcy being two methods that are used by individuals and firms to manage their debts, knowing the difference between bankruptcy and debt consolidation is important to decide between the two to manage one’s debt. Both debt consolidation and bankruptcy offer some form of relief when someone has to […]
Difference Between IFRS and AASB
IFRS vs AASB An accounting standard can be defined as a set of rules and procedures that need to be followed in preparing financial statements at the end of a financial year. This article evaluates the purposes and the importance of AASB accounting body and IFRS standards that are linked with the international accounting […]
Difference Between Sunk Cost and Opportunity Cost
Sunk Cost vs Opportunity Cost In cost accounting, there are specific costs related to planning and decision making of business activities. In this article,the definitions of sunk cost and opportunity cost, methods of calculating sunk cost and opportunity cost, the purpose of sunk cost and opportunity cost calculations, and finally, the difference between sunk cost […]
Difference Between Account Balance and Available Balance
Account Balance vs Available Balance Although they sound similar to each other, there is a difference between account balance and available balance. Available balance directly affects the cash deposits or withdrawals, but the account balance in the bank account takes time to update the changes, either cash increases for the deposits or cash reduces […]
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