Budget Surplus vs Budget Deficit A budget is a financial document, which forecast the future income and expenses, further it illustrates the ways in which income is going to be received, and how that received income is going to be shared or allocated among the expenses that are to be incurred. Budget can be prepared […]
Difference Between Image and Brand
Image vs Brand Brand is a concept that separates one seller or company or its products or services from its competitors. We all know about Coca-Cola, McDonald, Apple, Microsoft, and so on. Of course, these are giants of companies in their chosen field of manufacture or service, but there is something that separates them (read […]
Difference Between Salary and Wages
Salary vs Wages When someone asks your income, if you are in a private or government service, he is obviously referring to your salary. But when we talk about the income of blue collar workers or others who earn daily through their work, we invariably talk in terms of wages. Though wages are income, and […]
Difference Between Current Balance and Available Balance
Current Balance vs Available Balance Have you been confused by the statement slip coming out of the ATM machine that mentions both current balance and available balance in your bank account? Often it so happens that you go to your bank presenting a withdrawal slip thinking that you have the money in your account, but […]
Difference Between Double Entry and Single Entry
Double Entry vs Single Entry An accounting system can be defined as an organized set of manual, accounting methods, procedures, and controls established to gather, record, classify, summarize, interpret, present timely and accurately for decision making. Book keeping is a process in which the financial records of a business are kept well organized, and up-to-date. […]
Difference Between Journal and Ledger
Journal vs Ledger Journal and ledger are two main words that often one come across either when studying the concepts of financial accounting or preparing financial statements. In the double entry system of accounting, ledgers and journals are playing a vital and important role. Before the preparation of final accounts, all the transactions occurred must […]
Difference Between Debit and Credit
Debit vs Credit Debit and credit are two concepts that are an integral part of any accounting system and also have great significance in lives of individuals in the form of debit and credit cards. Even a layman knows his account has been credited when he deposits money or a check drawn in his favor, […]
Difference Between Liability and Indemnity
Liability vs Indemnity Though, liability is a word that is used both in terms of individual as well as company level to describe what is owed to others, it is also used prominently in the insurance field. Here, it is used to describe the amount of money a person owes to another person or party […]
Difference Between Supermarket and Hypermarket
Supermarket vs Hypermarket Between supermarket and hypermarket, a number of differences can be observed in terms of the size, the appearance, the service each offer, etc. Before discussing these differences, let us take a trip down the memory lane. How did your parents make a purchase of grocery items when you were a kid? […]
Difference Between Net Profit and Gross Profit
Net Profit vs Gross Profit Those who are into business know very well that there are glaring differences between gross and net profits and keep their profit margin at levels that they end up with some profit after taking into account all expenses. This is an important dichotomy for those who have never done business […]
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