The interest rate is the rate at which the money is borrowed. Many of us think that the interest cost is greatest, but there are some implied costs included in the cost of borrowing which we don't notice. On the other extreme, APR or Annual Percentage Rate is an example of such cost, that is described as the overall borrowing cost. Nowadays, loan and mortgage are considered as one of the best means to fulfil the monetary requirement of businesses and individuals, for which they need to pay a … [Read more...]
Difference Between Bank Rate and Repo Rate
Bank Rate and Repo Rate are the tools of RBI, which helps to control the money supply in the economy. They are the lending rates, at which the apex bank of the country lends funds to the commercial bank. The bank rate refers to the standard rate, at which the Central Bank of India readily purchases or rediscounts bills of exchange and other commercial paper, that are eligible for purchase under the act. Conversely, when the economic system of the country encounters liquidity shortages and the … [Read more...]
Difference Between Statutory Audit and Tax Audit
Audit means an examination of books of accounts, conducted with the purpose of establishing the fact that the accounting records presents a true and fair view. Many people get confused amidst statutory audit and tax audit in this context. While the former is an audit carried out under the Companies Act, the latter is an audit conducted under the Income Tax Act. The rules related to the audit of financial statements of an entity are dealt in the statutory audit. On the other extreme, the … [Read more...]
Difference Between Tariff and Quota
When it's about international trade, normally Government of various countries intervenes in the name of protection. It is a policy of the government, to protect domestic industries from foreign competition. You often heard the terms tariff and quota, in this context. The tariff is a tax on imports while quota is a sort of quantity limit set on imports. However, they do not outrightly influence the domestic business operations. As both are the methods used by the government to reduce imports … [Read more...]
Difference Between Formative and Summative Assessment
Assessment refers to the evaluation of something. When it comes to learning, students are assessed by the educational institution, to analyse their learning graph, their understanding level and progress. It also helps in planning further study material. Assessment can be of two types, i.e. it can be formative or summative. The formative assessment (FA) is conducted during the learning process. On the contrary, summative assessment (SA) is undertaken only at the end of the course or unit. The … [Read more...]
Difference Between CPI and RPI
CPI and RPI are two popular methods of measuring inflation. As both indexes use a basket of goods for calculating inflation, it is hard to differentiate them. While, Consumer Price Index (CPI) which is projected, by taking the average price of the economic output purchased by the consumers as a base, while Retail Price Index or RPI measures the variations in prices of retail economic output. The first and foremost difference between CPI and RPI is that While the consumer picee index excludes … [Read more...]
Difference Between Basic and Diluted EPS
Basic Earning Per Share is the ratio, that is reckoned to know the earnings available to each equity share. It is calculated by considering company's ordinary shares. On the other extreme, diluted earnings per share are computed when there are potential shares, i.e. convertible securities, in the company's financial structure. Earning per share (EPS) as its name suggests, it is that portion of the profit which is attributable to the shares outstanding. Financial Accounting Standard Board … [Read more...]
Difference Between Foreclosure and Short Sale
Foreclosure is a process in which the lender takes possession of the mortgaged asset when the borrower consistently fails to pay the outstanding payments. On the other hand, Short Sale is a process in which the lending institution allows the owner of the property to sell it, on his own. The main difference between foreclosure and short sale, lies in the fact, that the two are used at different times, as well as they are initiated by different persons. These are the two alternatives … [Read more...]
Difference Between Organised and Unorganised Sector
Sectors are majorly divided into three categories primary, secondary and tertiary. Based on the employment conditions these are further classified as an organised and unorganised sector. The organised sector is one that is incorporated with the appropriate authority or government and follow its rules and regulations. On the contrary, the unorganised sector can be understood as the sector, which is not incorporated with the government and thus, no rules are required to be followed. While the … [Read more...]
Difference Between Credit Union and Bank
Credit union refers to financial cooperative, which is a non-profit entity. It allows its members to borrow money from pooled funds, at cheap interest rates. Many times they are juxtaposed with a bank, but they are not one and the same thing. A bank can be described as a financial institution that provides banking services to the customers, such as accepting deposits, extending credit, safeguarding valuables and providing allied services. The credit union is a member-owned organisation, which … [Read more...]
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