Both Standard Costing and Budgetary Control are based on the principle that costs can be controlled along certain lines of supervision and responsibility, that focuses on controlling cost by comparing actual performance with the predefined parameter. However, the two systems are neither similar nor interdependent. Standard Costing delineates the variances between actual cost and the standard cost, along with the reasons. On the contrary, Budgetary Control, as the name suggest, refers to the … [Read more...]
Difference Between Fixed Budget and Flexible Budget
The budget can be understood as a quantitative plan that acts as an estimate of future operation. Based on the Capacity, there are two types of budgets prepared in cost accounting, namely, fixed budget and flexible budget. Fixed Budget is a budget that remains constant, irrespective of the levels of activity, i.e. the budget is created for a standard volume of production. On the contrary, Flexible Budget can be understood as the budget created for different production levels or capacity … [Read more...]
Difference Between Job Costing and Process Costing
There are various cost accounting techniques used to measure the cost of the product. When the goods are produced only against special orders, job costing is used by firms. On the other hand, when a product passes through several processes or stages, the output of one process becomes the input of next process, and to determine the cost of each process, process costing method is applied. It is generally used when like units are to be manufactured, that too in a continuous flow. In other words, … [Read more...]
Difference Between Strategy and Policy
In business parlance, the terms strategy refers to is a unique plan designed with the aim of achieving a competitive position in the market and also to reach the organisational goals and objectives. In short, it is an interpretative plan, that guides the enterprise in realizing its goal. On the other hand, policy refers to a set of rules made by the organisation for rational decision making. Policy lays down the course of action, which is opted to guide the organization's current and future … [Read more...]
Difference Between Strategy Formulation and Strategy Implementation
Strategy Formulation and Strategy Implementation are the two most important phases of strategic management process. Strategy Formulation means crafting a combination of strategies and picking out the best one to achieve the organizational goals and objectives and thereby reaching the vision of the organization. It involves a number of steps which are performed in chronological order. On the other hand, Strategy Implementation refers to the execution of the opted strategy, i.e. it converts the … [Read more...]
Difference Between CV and Resume
Curriculum Vitae (CV) outlines the academic qualifications, researches, and other relevant details about a person, to represent him in front of employers. A Resume is to the point document, which underlines a person's qualification for a specific job. When it comes to length, a CV is much larger than a resume. Whenever a person applies for a job, he/she has to make a document which introduces him/her. Which one is suitable a CV or a Resume? It is going to be very difficult to choose one of … [Read more...]
Difference Between Developed Countries and Developing Countries
Countries are divided into two major categories by the United Nations, which are developed countries and developing countries. The classification of countries is based on the economic status such as GDP, GNP, per capita income, industrialization, the standard of living, etc. Developed Countries refers to the soverign state, whose economy has highly progressed and possesses great technological infrastructure, as compared to other nations. The countries with low industrialization and low human … [Read more...]
Difference Between Privacy and Confidentiality
Every person wants some personal space in his/her life, because, one cannot share each and everything with others. In fact no one wants to talk about what's going on in their personal life. Hence, a certain degree of privacy is every person's need. Privacy is a state when a person is free from public interference while if we talk about Confidentiality, it speaks about a situation when important information is kept the secret between two individuals until the person to whom the information … [Read more...]
Difference Between Customer and Consumer
Do you know the fact that we all are consumers in some way or the other, no matter what our age, gender, race, caste, community is. The consumer is the one who consumes the goods, i.e. the user of the goods. It is commonly misconstrued with the term customer, which refers to a person who buys the goods or commodity and pays the price for it. Each and every marketing activity is directed towards influencing the behavior of customers, i.e. to induce them in such a way that they take an action … [Read more...]
Difference Between Indian Culture and Western Culture
One of the most debated topics in competitions and group discussions is Indian Culture Vs Western Culture. They are diametrically opposite to each other. As a coin has two sides, both cultures all have some merits and demerits. Indian culture is a mix of diversities in customs, rituals, traditions, language, etc., that varies from region to region within the country. It is one of the oldest and a combination of various cultures. On the other hand, Western culture, it is quite advanced and … [Read more...]
- « Previous Page
- 1
- …
- 87
- 88
- 89
- 90
- 91
- …
- 104
- Next Page »