The main difference between Cost Sheet and Production Account is that Cost Sheet is using to express the details of the invention of a particular period, whereas Production Account is…

The main difference between Share Certificate and Share Warrant is that Share Certificate is a document that is issuing against shares, whereas Share Warrant is an instrument that is granting…

The main difference between Bookkeeping and Accounting is that Bookkeeping is the method of recording regular business transactions, whereas Accounting is the process of recording monetary transactions relating to the…

The main difference between income and revenue is that income is the money left for business after it subtracts expenses and costs from its revenue, whereas revenue is the total…

The main difference between Audit and Review is that Audit is providing a realistic level of assurance, whereas Review is a report on the credibility of the financial statement. An…

The main difference between Marketing Concept and Selling Concept is that Marketing Concept is concentrating on the need of the buyer, whereas the Selling Concept is concentrating on the needs…

The main difference between Internal Control and Internal Audit is that Internal Control is an ongoing system to make sure operative proficiency is achieving by the control of risk, whereas…

The main difference between Cash Flow Statement and Fund Flow Statement is that the Cash Flow Statement shows the inflows and outflows of cash, whereas the Fund Flow Statement shows…

The main difference between Trading Account and Profit and Loss Account is that Trading Account is such account that is showing the result of trading activities like buying and selling,…

The main difference between Fixed Capital and Working Capital is that Fixed Capital mentions the investment of the initiative in long term possession of the company, whereas Working Capital means…

The main difference between Provision and Reserve is that Provision is a specific amount that you place in sideways in your accounts to protect forthcoming accountability, whereas Reserve is a…

The main difference between Auditing and Investigation is that Auditing is an assessment or authentication of an individual, system, or an organization, whereas Investigation is an analysis or in-depth inspection…

The main difference between Cash Book and Passbook is that Cashbook saves the records of cash dealings, whereas the Passbook is providing by the banks to their account holders to…

The main difference between Book Value and Market Value is that Book value of an asset grants its accounting value, which is nothing but the historical cost less accumulated depreciation/amortization,…

The main difference between Accounting Concept and Accounting Convention is that Accounting concepts are the essential accounting assumptions that act as a ground for recording business transactions and preparation of…

In broader terms, the process of accounting deals with keeping detailed records and predicting the economic nature of business. It gives the assurance that all the actions going on in…

Accounting is the process of keeping detailed records, categorizing and predicting the economic nature of business. It deals with making sure all the accounts of a company are maintained and…

Debit and Credit are two terms used mostly in Banks and are associated to money and dealings. These are entries in double entry bookkeeping made in account ledgers in order…