Key Differences

Difference Between Occupation and Profession

Occupation is an activity undertaken by the person to earn his livelihood. It can be business, profession or employment that a person undertakes to make money. Many think that occupation and profession are synonyms, but the fact is they are different. Profession is an activity that requires specialised training, knowledge, qualification and skills. It implies membership of a professional body, and certificate of practice. The individuals who undertake a profession of rendering personalised … [Read more...]

Difference Between Job and Career

While the job is an activity that an individual do to fuel his livelihood, a career is something related to pursuing your passion. There is always a buzz, whenever we talk about job and career because many people see their job as their career. With the passage of time, the difference between the two terms is getting blurred. In simple terms, job is a position of regular employment, that is paid. Conversely, career implies progress of an individual in a particular profession or in a … [Read more...]

Difference Between CV and Cover Letter

Cover Letter is a document that highlights the job seeker’s credentials, and describes the content of another document, i.e. resume or curriculum vitae, with which it is sent. On the other hand, Curriculum Vitae or CV is a summary of the applicant's educational and employment credential. It is a snapshot of the career history of the candidate, which is indeed the primary phase, in getting the attention of potential employer. The two documents are of great importance, for every candidate who … [Read more...]

Difference Between Transfer and Transmission of Shares

One of the most important features of the securities is that they are transferable, which facilitates the company in acquiring permanent capital and liquid investments to the shareholders. Transfer of shares is a voluntary act of a member that takes place by way of contract. It is not exactly same as transmission of shares, as the two differ in their meaning and concept as well. The transmission of shares occurs due to the operation of law i.e. in case if the member passes away or becomes … [Read more...]

Difference Between Goods and Services

In economics, goods and services are often pronounced in the same breath. These are offered by the companies to the customers to provide utility and satisfy their wants. At present, the success of the business lies in the combination of best quality of goods and customer oriented services. 'Goods' are the physical objects while 'Services' is an activity of performing work for others. Goods implies the tangible commodity or product, which can be delivered to the customer. It involves the … [Read more...]

Difference Between On-the-job and Off-the-job training

Nowadays, training has become the core needs of the organization to develop specific skills in their existing and prospective employees. There are two methods for imparting training in workers are on-the-job training and off-the-job training. As their name suggests, the former refers to the training imparted at the actual job location involving 'hands-on' training, whereas the latter method involves giving training to the employees at a place other than the real job location. While on-the-job … [Read more...]

Difference Between Deduction and Exemption

Income Tax is a compulsory obligation which is levied on every citizen, based on their paying capacity, age, and gender. In order to provide relief to the assessee from payment of taxes, the tax law has certain provisions for deduction and exemptions, which decreases the overall tax liability. In deduction, the amount is first included in the income of the taxpayer and then the deduction is allowed as per the rules, i.e. in full or part or when certain conditions are satisfied. An exemption, on … [Read more...]

Difference Between e-commerce and m-commerce

With the emergence of new trends of doing business, nowadays people need not wait in queue for a long time just to buy a single article. However, traditional commerce is still in vogue, but every second person uses the latest modes of trading i.e. electronic commerce (e-commerce) and mobile commerce (m-commerce). e-Commerce delineates all forms of business dealings undertaken through electronic processing and exchange of data, including text, sound, video, images and so on. On the other hand, … [Read more...]

Difference Between Direct Cost and Indirect Cost

The identification, measurement, and allocation of costs can help to determine the actual profit of the organization. Based on the relationship or degree of traceability to products, the costs are classified into direct costs and indirect costs. The two cost differ in the sense that expenditure which can be identified and allocated to a particular cost object or cost center, i.e. traceable to a particular product in an economically feasible manner, it is termed as a direct cost. On the other … [Read more...]

Difference Between Direct Debit and Standing Order

There are end number of facilities provided by the banks to its customers, apart from the basic lending of money and accepting deposits. Direct Debit and Standing Order are two such facilities, which the customers can avail, in order to ease their monetary transactions. The former implies a facility, in which the payee is authorized to draw the amount due for payment from the account of the payer, while the latter denotes an instruction given to the bank by the customer to pay/transfer certain … [Read more...]