When it comes to education, the two concepts which pop up in our mind which are commonly misconstrued are syllabus and curriculum. Syllabus connotes the subjects as well as the topics covered in the course of study. On the other hand, curriculum implies the chapters and academic content taught in school or college. It alludes to the knowledge, skills and competencies students should learn during study. The fundamental difference between syllabus and curriculum is that the former is focused … [Read more...]
Difference Between Prepaid and Postpaid Connection
There is always a buzz when we talk about prepaid and postpaid connection. As the name suggests, prepaid refers to the payment made in advance and services are availed afterward. On the other hand, the postpaid connection is one in which you first avail the services and thereafter pay the price for it. Professionals, employees, and people belonging to business class prefer postpaid over prepaid while youngsters believe prepaid is better than postpaid. So the fight between these two SIM … [Read more...]
Difference Between Cash book and Passbook
There are end number of transactions occur in the normal course of business, where in receipt or payment is made in cash or cheque. To record these transactions the entity uses cash book and contains all the details of the receipts and disbursements that are recorded chronologically. Many times cash book is juxtaposed with Passbook, but there is a slight difference in the two. Passbook is a book issued by the bank to the account holder which records the amount deposited in/withdrawn from the … [Read more...]
Difference Between SWIFT code and IFSC code
SWIFT stands for Society for Worldwide Inter-bank Financial Telecommunication, which is a cooperative non-profit organization, fully owned by its member banks. SWIFT code is used when the transfer between two banks happens internationally. It is an electronic message transfer system, that conveys messages in a pre-defined format, anywhere in the world as and when the transaction occurs. On the other hand, IFSC code is used when the fund transfers between banks take place within the … [Read more...]
Difference Between FDI and FII
Foreign Direct Investment (FDI) is defined as the type of investment into production or business in a country, by an enterprise based in another country. It is often contrasted with Foreign Institutional Investment (FII), which is an investment fund, based in the country, other than the country, in which investment is made. Both are the forms of investment made in a foreign country. FDI is made to acquire controlling ownership in an enterprise but FII tends to invest in the foreign financial … [Read more...]
Difference Between Communism and Socialism
There are a number of political systems prevalent in different countries of the world. Communism and socialism are two such economic system, which are commonly juxtaposed by the people. While communism is described as a social organization system where the community owns the property and each individual contributes and receives wealth as per their needs and ability. On the other hand, Socialism is an economic theory wherein the means of production, distribution, and exchange are owned and … [Read more...]
Difference Between Democracy and Republic
There are many forms of political systems which are prevalent in different countries of the world for a long time like monarchy, oligarchy, anarchy, democracy and republic. Of these forms of government, democracy and a republic are quite often juxtaposed, but there is a fine line amidst the two. Democracy refers to the system of masses, i.e. a political system dominated by citizens of the country. Under this system, the general public possess a certain degree of power and authority and takes … [Read more...]
Difference Between Goals and Objectives
A company's goals and objectives are the foundation, which measures how much distance it has covered to attain its vision. Goals are defined as the lifelong aims, which an individual or entity endeavor to achieve something. It determines what the company is attempting to accomplish. On the other hand, objectives are the specific milestones which a person plans to achieve in a limited period. These are precise, measurable, time-based, actions that assist in the achievement of goal. Every … [Read more...]
Difference Between Guarantee and Warranty
The market is flooded with millions of products, of same nature, type, size and quality, which make it hard to pick one product over the other. As a buyer, you can specify the product of your choice by setting a standard for the manufacturing entities. In this context, the term warranty is quite commonly used. It implies a formal assurance given to the customer about the state of the product are true and declares that the manufacturer will be responsible for the repair or replacement, if found … [Read more...]
Difference Between Economic Growth and Economic Development
Economic Growth refers to the rise in the value of everything produced in the economy. It implies the yearly increase in the country's GDP or GNP, in percentage terms. It alludes to considerable rise in per-capita national product, over a period, i.e. the growth rate of increase in total output, must be greater than the population growth rate. Economic Growth is often contrasted with Economic Development, which is defined as the increase in the economic wealth of a country or a particular … [Read more...]
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