Thesis and dissertation differ in the sense that thesis analysis is added to the existing literature. Conversely, a dissertation contributes to new knowledge of the already existing literature. Different countries define the words thesis and dissertation differently, i.e. in some countries they are used interchangeably, while in some countries thesis is related to bachelor's or master's degree course and dissertation is used in the context of a doctorate degree, whereas in some countries the … [Read more...]
Difference Between Teaching and Training
Learning has no end, in fact, there is no age bar for learning. We learn new things every day, no matter if we recognize it or not. Teaching and training are two very common methods of learning, which are often misconstrued by the people, but the fact is teaching is primarily associated with classroom learning, wherein theoretical knowledge of various subjects are provided to the student, as per the opted course. Conversely, training is one such process which helps in imparting specific … [Read more...]
Difference Between Horizontal and Vertical Analysis
In Horizontal Financial Analysis, the comparison is made between an item of financial statement, with that of the base year's corresponding item. On the other hand, in vertical financial analysis, an item of the financial statement is compared with the common item of the same accounting period. Financial Statement implies the formal and final summary of the financial affairs of the concern, indicating the performance, profitability, position, etc. The process of thoroughly analysing the … [Read more...]
Difference Between Enculturation and Acculturation
Enculturation refers to that learning process in which an individual comes to know about the rules, customs, skills and values of the society. The word enculturation is commonly juxtaposed with 'acculturation' which refers to the modification of culture of an individual or group, due to the interaction with other culture. We all know that it is because of the culture we speak, behave, celebrate and express in a specific way. Culture implies a varied set of intangible aspects i.e. features, … [Read more...]
Difference Between Turnover and Revenue
Turnover is a broad term which is used in different contexts in different disciplines. In general, it implies the business or trading done by a company, in terms of money, in a given period. On the other hand, the word revenue is specific in nature, which refers to the proceeds received by the company in a particular period. It is not the profit of the company, rather it is the receipts of the company. Whenever we talk about how big a company is? or how successful it is? Or how much it has … [Read more...]
Difference Between OTC and Exchange
Secondary market refers to a market wherein already issued securities and financial instruments are traded. It includes both exchanges and OTC market. Exchange refers to the formally established stock exchange wherein securities are traded and they have a defined set of rules for the participants. When the trading is performed through the exchange, it is under the supervision of the exchange and so it ensures that all the rules and regulations are duly complied with. Conversely, Over the … [Read more...]
Difference Between Current Ratio and Quick Ratio
The current ratio is the ratio used by corporate entities to test the ability of the company to discharge short-term liabilities, i.e. within one year. Conversely, quick ratio is a measure of a company's efficiency in meeting its current financial liabilities, with its quick assets, i.e. the assets which are easily convertible to cash in a short duration. The ratio refers to an arithmetical expression, representing the proportion of one thing with respect to another. A financial ratio shows … [Read more...]
Difference Between Psychology and Sociology
Psychology and Sociology are two broad disciplines which are related to the study of humans, wherein 'psychology' refers to the study of the human mind, i.e. it is concerned with what's going on inside the brain of a person, to understand the reasons of his/her behaviour in different circumstances. On the contrary, 'sociology' implies the study of human behaviour in a group or society and reasons thereof. Where psychology focuses on an individual, i.e. it studies an individual, his/her … [Read more...]
Difference Between Direct and Indirect Expenses
Expenses refer to the cost incurred on something and when it comes to business, the incurrence of expenses is a daily affair. These expenses may be related to production or regular business operations. When the expenses are linked to the production of a product, it is considered as a direct expense. Direct expenses can be identified or associated with the specific cost object such as product or service. Here, the word cost object refers to any product, service, process, or job for which cost … [Read more...]
Difference Between Error of Omission and Error of Commission
The error of omission refers to the error in which a transaction is not at all recorded in the books, either completely or partially. As against, the error of commission implies the error in which the transaction is incorrectly recorded in the books. While recording and posting the entries, the occurrence of errors is quite common. Errors are the mistakes committed by the accounts staff while recording and maintaining the books, which cannot be corrected by overwriting. Errors are divided … [Read more...]
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