Henry Fayol, a Mining Engineer and Executive of France, who listed out 14 Principles of Management. Two such Management theories are Unity of Command and Unity of Direction. Unity of Command proclaims that each employee is accountable to one supervisor and thus, get orders from him, relating to the task to be performed. Unity of Direction, on the other hand, signifies that the series of activities having similar objective should be performed as per a single plan and that too under one … [Read more...]
Difference Between Revenue Reserve and Capital Reserve
In business, all the profit earned during a financial year is not utilized for payment of dividend to the shareholder, rather a certain amount is earmarked and retained in the business, so as to meet out future needs or cope with emergency situations, it is known as reserves. Based on the nature of profit from which reserves are created, they are grouped as revenue reserve and capital reserve. Revenue Reserve is created out of profit arising from day to day business operations while Capital … [Read more...]
Difference Between Audit Plan and Audit Programme
Audit Plan refers to the scheme formulated by the auditor that comprises of strategy or approach, that is followed for carrying out audit. On the other hand, audit programme implies a range of verification procedures, which are applied to the final accounts, to acquire audit evidence, and thus helping auditor in providing an informed opinion. While conducting the audit, the auditor requires evidence, in support of his opinion. A collection of evidence is the beginning of the auditing process. … [Read more...]
Difference Between Advertising and Personal Selling
Advertising is one of the widely used techniques of promotion, wherein modes like television, radio, newspapers, internet, etc. are used for creating demand or interest of the customers towards the product or services offered by the company. On the other hand, personal selling is the verbal communication of the message, to one or more customers, so as to create sales. Both advertising and personal selling are two major elements of promotion mix, which is employed by the organization to reach … [Read more...]
Difference Between Trading Account and Profit & Loss Account
Trading Account is an account that is prepared by the entities to know the profit earned or loss suffered from trading activities. On the other hand, Profit & Loss account is an account created to ascertain the net profit or loss for the period. This article excerpt deals with the difference between trading and profit & loss account. There are two types of entities, i.e. manufacturing entities and non-manufacturing entities. Non-manufacturing entities are the entities engaged in … [Read more...]
Difference Between Nomination and Assignment
When we talk about life insurance, we often hear the terms nomination and assignment. The former refers to the appointment of a person, to receive the proceeds upon the demise of the policyholder, whereas the latter implies the legal transfer of rights to the benefits of the policy to another person, i.e. assignee. In the nomination, the property or amount secured by the policy remains at the disposal of the assured, till the time he/she is alive and the person appointed as the nominee is … [Read more...]
Difference Between e-Government and e-Governance
e-Government implies the implementation of information and communication technology like internet, to improve government activities and process, with the aim of increasing efficiency, transparency, and citizen involvement. On the other hand, e-Governance means governing or administering a country/state or organization, with the help of information and communication technology. Many think that these two are related to delivering government services through the internet, but the fact is they … [Read more...]
Difference Between Insurance and Reinsurance
In simple terms, insurance is the act of indemnifying the risk, caused to another person. Conversely, reinsurance is when the insurance company takes up insurance to guard itself against the risk of loss. The two concepts are very similar to each other but may differ in they way; they are applied. Insurance is a very common form of financial protection which is used to provide protection against the risk of losses. On the other hand, reinsurance is used by the insurance company, when it does … [Read more...]
Difference Between Internal and External Communication
When the members of the organization, communicate with each other, it is called as internal communication. However, when there is a communication between members of the organization, with the outside party, it is said to be external communication. These are two types of communication, which can be seen in the corporate world. This article excerpt will provide you all the important differences between internal and external communication. In the process of management, communication plays a … [Read more...]
Difference Between General Lien and Particular Lien
'Lien,' a right to keep in possession, the movable goods belonging to another person, till the time the debt owed by that person is realized. It can be classified as the general lien and particular lien. When one party is entitled to retain the goods belonging to another party, until all the dues are discharged, is called general lien. In contrast, particular lien implies the right of retention of specific goods, until the claims related to those goods are realized. Lien is tied with … [Read more...]
- « Previous Page
- 1
- …
- 48
- 49
- 50
- 51
- 52
- …
- 89
- Next Page »