LC vs Bank Guarantee Letter of Credit and Bank Guarantee are two financial instruments that are very helpful to buyers and suppliers, especially when they are not too well known to each other or are just starting out on a venture. These two financial instruments are issued by banks to buyers and sellers and have […]
Difference Between Association and Organization
Association vs Organization We come across myriad organizations in our lives and sometimes it becomes confusing to differentiate between them on the basis of their nature, scope and purpose. One such type of organization is association. We know that there are various types of associations like PETA, sports associations, blind association, alumni associations and so […]
Difference Between Pay Order and Demand Draft
Pay Order vs Demand Draft | Banker’s Check (Cheque) vs Demand Draft What do you do when you need to transfer money in somebody else’s account? You can either issue a cheque in the name of the party or you can get a pay order or a demand draft made in the name of the […]
Difference Between GAAP and IASB
GAAP vs IASB With increase in international trade and also the size of companies operating in a number of countries, it became imperative for the world to have a uniform accounting standard applicable on all countries. This initiative was taken by International Accounting Standard Board (IASB) to set a framework of guidelines, known as GAAP, […]
Difference Between GAAP and GAAS
GAAP vs GAAS Cultural differences and evolution of different accounting principles in different parts of the world have meant that in this age of globalization, it is difficult to make a fair assessment of a company’s performance that is situated in a different country from yours. To bridge the gap between accounting principles of various […]
Difference Between Walkthrough and Inspection
Walkthrough vs Inspection Walkthrough and Inspection are two words that are used in organizational behavior and in business. The two terms are indeed different when it comes to their inner meanings. A walkthrough is nothing but an informal meeting that takes place to evaluate the performance of a product. This kind of meeting needs no […]
Difference Between Review and Audit
Review vs Audit Review and Audit are two terms that are associated with the subject of Accounting. These two terms are to be understood with difference when it comes to their meanings. Actually the objectives of an audit of financial statements are different from the objectives of conducting a review of a company. An audit […]
Difference Between Hedgers and Speculators
Hedgers vs Speculators A jeweler needs certain amount of gold for sale of ornaments in the coming festive season. He has even advertised the latest designs of earrings, bracelets, and pendants through catalogs and has already secured orders from customers. But what if the prices of gold go up drastically after a few months? He […]
Difference Between MOA and AOA
MOA vs AOA MOA and AOA stand for memorandum of association and articles of association respectively and are important source of information for shareholders and other stakeholders in a company that has been duly incorporated. These are documents that are necessary at the time of formation of a company and must be deposited with the […]
Difference Between Short Term Planning and Long Term Planning
The key difference between short term planning and long term planning is that short term planning focuses on an immediate period, especially in reference to revenue and profitability, whereas long term planning focuses on achievements for projected future. In the current business context, business owners plan their businesses in terms of short term, medium term […]
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