Current Account vs Saving Account Savings accounts and current accounts are the two most common types of accounts that are maintained by businesses and individuals. While both savings accounts and current accounts help the individual or business to manage their funds in some way, they are quite different to one another in terms of […]
Difference Between Contribution Margin and Gross Margin
Contribution Margin vs Gross Margin Gross margin and contribution margin are quite similar to one another and are important indicators of a company’s profitability. They both offer information that is important to make decisions regarding production levels. Contribution allows a company to calculate the breakeven point (which is the amount of goods that need […]
Difference Between Turnover and Profit
Turnover vs Profit Turnover and profit are both terms that appear on a firm’s balance sheet. Turnover and profit are related to one another since profits are calculated by reducing expenses from the total revenue, of which a major portion is made of the company’s sales turnover. There are however a number of differences […]
Difference Between Discount Rate and Interest Rate
Discount Rate vs Interest Rate Interest rates and discount rates are rates that apply to borrowers and savers who pay or receive interest for savings or loans. Interest rates are determined by the market interest rate and other factors that need to be considered, especially, when lending funds. Discount rates refer to two different […]
Difference Between Retail Banking and Corporate Banking
Retail Banking vs Corporate Banking The banking industry is divided into two major banking components known as retail banking and corporate banking. Retail banking includes products and services which are offered to individual customers. Corporate banking services are those products and services that cater specifically to corporate customers such as large corporations and small […]
Difference Between Exempt and Zero Rated (VAT)
Exempt vs Zero Rated (VAT) VAT is the value added tax that is charged when selling goods and services. The price of these goods and services include the VAT amount. There are different types of VAT rates that apply to different types of goods and services. There are also certain goods and services on […]
Difference Between Charge, Mortgage and Pledge
Charge vs Mortgage vs Pledge Charges, mortgages, and pledges are quite similar to one another in that they are all security interests that banks use to provider lender with security over the borrower’s assets. There are, however, a few differences between them in terms of the ownership of the asset when loans are taken […]
Difference Between Cash and Accrual (Accounting)
Cash vs Accrual (Accounting) There are two methods used in accounting to record income and expenses which are known as cash basis accounting and accruals basis accounting. The method of accounting chosen will influence the manner in which transactions and business activities will be recorded in the books and will affect the final profit […]
Difference Between Rebate and Discount
Rebate vs Discount Discounts and rebates are similar to one another in that they both result in the customer paying a price that is less than the listed price for the product or service. The main difference between the two is the time period in which the price reduction is provided. While discounts will […]
Difference Between Cost Center and Profit Center
Cost Center vs Profit Center Businesses have a number of operating units that are essential to the smooth running of the business. There are certain operating units that generate revenue for the firm while there are other operating units that result in costs and expenses. Whichever way, both these types of units called profit […]
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