What are Accounting Concepts? Accounting concepts are the fundamental principles that underlie the practice of accounting. They provide a framework for the way financial transactions and events are recorded, classified, …
Aid vs Grant – Difference and Comparison
What is Aid? Aid is provided for the exact purpose of providing help to another entity or another country. Aid can be in form of funds or resources. For example, …
Accruals vs Deferrals – Difference and Comparison
What is Accruals? Accruals are earnings or costs that have accumulated over time and are now payable in the current accounting quarter. This is done so that any accumulated accounting …
Accounting Profit vs Cash Flow – Difference and Comparison
What is Accounting Profit? Accounting profit is determined as income/revenue, which is the money you bring into the business less your explicit cost. It’s like the business’s earnings minus the …
Accounting vs Economics – Difference and Comparison
What is Accounting? Accounting is a practical notion used by practically every organization to keep track of its finances. Its purpose is to maintain track of how money moves through …
403(b) vs 457(b) – Difference and Comparison
What is 403(b)? The elective deferral of 403(b) is $19,500 for the year 2021 and grows to an amount of $20,500 in the year 2022 with an additional catch-up contribution …
APR vs APY – Difference and Comparison
What is APR? One of the most used acronyms is APR (Annual Percentage Rate), and it stands for Annual Percentage Rate. Interest will accrue on loans made by individuals or …
Alibaba Trade Assurance vs PayPal – Difference and Comparison
What is Alibaba Trade Assurance? Alibaba Trade Assurance in digital payment or money transaction method which is available exclusively on Alibaba platforms like its shopping sites and apps. The user …
Activity Based Costing vs Traditional Costing – Difference and Comparison
What is Activity Based Costing? Activity-based costing can be defined as allocating additional charges which can be direct and Indirect. These charges may include utilities and salaries related to several …
ACH Debit vs ACH Credit – Difference and Comparison
What is ACH Credit? The Automated Clearing House Network (ACH) is a U.S. banking network that allows payments to be “pushed” from one bank account to another (ACH network). Direct …
ACH vs Wire Payment – Difference and Comparison
What is ACH? Automatic Clearing House Payments (ACH) is an abbreviation for Automatic Clearing House Payments. It is a type of electronic funds transfer technology that allows money to be …
Accumulated Depreciation vs Depreciation Expense – Difference and Comparison
What is Accumulated Depreciation? Accumulated Depreciation is the total cost allocation for depreciation expense by the company since the time the asset has been put into use. It is essentially …
Accounting vs Financial Accounting – Difference and Comparison
What is Accounting? Accounting is the management of today’s transactions, pecuniary resources, and preparing financial statements. Accounting includes recording, creation and summation for the preparation of financial statements, which are …
401K vs Pension – Difference and Comparison
What is 401k? The 401(k) is a retirement account built into most work plans. A 401(k) is a great way to save for retirement, and most people use their 401(k) …
Advance Directive vs Living Will – Difference and Comparison
What is an Advance Directive? It is a credible declaration (till it is medically relevant), which states the options and critiques of someone concerning his/ her medical care. Instances can …