Tag: Difference

The term “difference” can have various definitions depending on the context in which it used. Here are some common definitions across different fields:

General Definition:
- The quality or condition of being unlike or dissimilar. This refers to a distinguishing characteristic or the way in which two or more things are not the same.
  - Example: “The main distinction between the two proposals is their cost.”
Mathematics:
- The result of subtracting one number from another. In this context, it is the amount by which one quantity is greater or smaller than another.
  - Example: “The distinction between 8 and 3 is 5.”
Logic and Philosophy:
- A property by which two concepts or objects are distinguished. It refers to a characteristic that sets two entities apart.
  - Example: “The distinction between humans and other animals is the capacity for abstract thought.”
Sociology and Anthropology:
- The various ways in which people or groups are distinct from one another, often considering aspects such as culture, ethnicity, gender, etc.
  - Example: “Understanding cultural distinctions is crucial in global business.”
Set Theory (Mathematics):
- Given two sets $A$ and $B$ , the difference (or set distinction) $A - B$ is the set of elements that are in $A$ but not in $B$ .
  - Example: “If $A = \{1, 2, 3\}$ and $B = \{2, 3, 4\}$ , then $A – B = \{1\}$ .”
Statistics:
- The difference between two values, such as the mean difference between two groups in an experiment.
  - Example: “The distinction in average scores between the control and experimental groups was significant.”

Each definition highlights a specific aspect of how the term “difference” can applied in various fields of study or everyday language.

Difference between Traditional and Managerial Economics
The primary difference between Traditional Economics and Managerial Economics; First, the Traditional economy is an original economic system in which traditions, customs, and beliefs help shape the goods and services the economy produces and the rules and manner of their distribution. Countries that use this type of economic system are often rural and farm-based. The concept of the study explains – What is traditional economics? Meaning, and What is Managerial economics? and their difference.

Understanding and Learn, Explain the Difference between Traditional Economics and Managerial Economics!

Also known as a subsistence economy, a traditional economy defines by bartering and trading. A Little surplus produces, and if any excess goods are made, they are typically given to a ruling authority or landowner.

After, Managerial economics is the “application of the economic concepts and economic analysis to the problems of formulating rational managerial decisions”. It sometimes refers to as business economics and is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units.

What is traditional economics? Meaning.

Traditional economics refers to the more primitive principles of modern economics, which are commonly using in undeveloped countries, who have not yet embraced technical and globalization changes in the study of economics over the years. Traditional economics relies on the use of old cultures, trends, and customs in allocating rare resources to gain profit.

A traditional economy will definitely rely on the traditions of heritage and how the previous generations have made their production activities, which will create the basis for the production of goods. The main production activities in the traditional economy include farming, livestock activities, and hunting. In countries with such traditional economic systems, Papua New Guinea, South America, parts of Africa, and the rural areas of Asia are including.

What is managerial economics? Meaning.

Managerial economics refers to the branch of economics, which derives from the subject matter of microeconomics, which considers houses and firms in the economy, and macroeconomics related to employment rates, interest rates, inflation rates, and other macroeconomic variables from the country are related to the complete completion.

Managerial economics uses mathematics, statistics, management theory, economic data, and modeling techniques to help business managers manage their operations with maximum efficiency. They help managers make the right decisions in the allocation of rare resources such as land, labor, capital to achieve high profitability while reducing costs. Managerial economics helps managers decide which products to produce, how much to produce, what prices will determine, and what channels to use in sales and distribution.

What is the Difference between Traditional Economics and Managerial Economics?

The upcoming discussion will help you to differentiate between traditional and managerial economics.

The difference in Traditional Economics:
- Traditional Economics has both Micro and Macro aspects.
- This is both positive (existing certain) and Normative Science.
- This deals with Theoretical aspects only.
- Here, problems are analyzing both from a Micro and Macro point of view.
- It studies human behavior based on certain assumptions, but these assumptions do not hold good in Managerial Economics.
- Here, we study only the economic aspects of the problems.
- Here, we study principles underlying rent, wages, interest, and profits.
- Traditional Economics scope is wide and it covers various areas.
- Here, the efficiency of the firm is not studying.
The difference in Managerial Economics:
- It is essentially Micro in character.
- This is essentially Normative (setting standard) in nature.
- While it deals with Practical aspects.
- It studies the activities of an individual firm or unit.
- Managerial economics deals mainly with Practical problems.
- Here, both economic and non-economic aspects of the problems are studying.
- Here, we study mainly the principles of profit only.
- While the scope of Managerial Economics is limited and its scope is not so wide as that of Traditional Economics.
- Here, the most important task is to study how to improve the efficiency of the firm.
Another Main difference between Traditional and Managerial in without table:

Managerial Economics has been describing as economics apply to decision-making. It may view as a special branch of Economics. However, the main points of differences are the following:
- Traditional Economics has both micro and macro aspects whereas Managerial Economics is essentially micro in character.
- Economics is both positive and normative science but Managerial Economics is essentially normative in nature.
- Economics deals mainly with the theoretical aspect only whereas Managerial Economics deals with the practical aspect.
- Managerial Economics studies the activities of an individual firm or unit. Its analysis of problems is micro in nature, whereas Economics analyzes problems both from the micro and macro point of view.
- Economics studies human behavior based on certain assumptions. But, these assumptions sometimes do not hold good in Managerial Economics as it concerns mainly with practical problems.
- Under Economics we study only the economic aspect of the problems but under Managerial Economics we have to study. Both the economic and non-economic aspects of the problems.
- Economics studies principles underlying rent, wages, interest, and profits. But in Managerial Economics we study mainly the principles of profit only.
- Sound decision-making in Managerial Economics is considering to be the most important task for the improvement of the efficiency of the business firm. But in Economics it is not so.
- The scope of Managerial Economics is limited and not so wide as that of Economics.
Thus, it is obvious that Managerial Economics is very closely related to Economics. But, its scope is narrow as compared to Economics.

Managerial Economics is also closely related to other subjects, viz., Statistics, Mathematics, and Accounting.

A trained managerial economist integrates concepts and methods from all these disciplines bringing them to bear on the business problems of a firm.

What is the difference between economics and managerial economics? Some Explanation.

Both managerial economics and traditional economics include production, distribution, and consumption of goods and services, and are reflecting on the basic economic theory of using. The factors of production effectively for the production of both goods and services.

The main difference between the branches of economics is that traditional economics is ancient. And, its development is done in undeveloped and less technologically advanced economies. While the result of managerial economics globalization and the development of economics involves making managerial decisions.

Managerial economics uses sophisticated modeling systems and statistical data to make decisions regarding quantity, pricing and distribution channels, whereas, in traditional economics, the use of farming, hunting, and livestock activities uses by individuals to meet their daily consumption requirements. Includes.

Difference between Traditional and Managerial Economics, Image Credit to ilearnlot.com.
July 11, 2018

Ten Differences in Formal and Informal Education!

The Ten Content is the study of Ten Differences in Formal and Informal Education. We all think we know about education as being the one imparted in schools around the country.

Explain Into Ten, Learn, Ten Differences in Formal and Informal Education!

This system of education, devised by the government and based upon a curriculum does called the formal system of education. However, in most countries, there is also an informal system of education that is different from school education and has nothing to do with the strict curriculum and other obligations found in formal education. Also Explain and learn, Ten Differences in Formal and Informal Education!

What is Formal Education?

Formal learning is education normally delivered by trained teachers in a systematic intentional way within a school, higher education, or university. It is one of three forms of learning as defined by the OECD, the others being informal learning, which typically takes place naturally as part of some other activity, and non-formal learning, which includes everything else, such as sports instruction provided by non-trained educators without a formal curriculum.

The education that students get from trained teachers in classrooms through a structured curriculum is referred to as the formal system of education. Formal education does carefully thought out and provided by teachers who have a basic level of competency.

This competency does standardize through formal training of teachers, to provide them with a certification that may be different in different countries. Formal education does imparted mainly in modern science, arts, and commerce streams with the science stream later getting divided into engineering and medical sciences.

On the other hand, there is also the specialization of management and chartered accountancy that students can take up in higher studies after completing 16 years of formal education.

What is Informal Education?

Informal Education is a general term for education that can occur outside of a structured curriculum. Informal Education encompasses student interests within a curriculum in a regular classroom but does not limit to that setting. It works through conversation and the exploration and enlargement of experience. Sometimes there is a clear objective link to some broader plan, but not always. The goal is to provide learners with the tools they need to eventually reach more complex material.

Informal education refers to a system of education that does not state-operated and sponsored. It does not lead to any certification and does not structured or classroom-based.

For example, a father giving lessons to his son to make him proficient in a family-owned business is an example of informal education.

Informal education is, therefore, a system or process that imparts skills or knowledge that is not formal or recognized by the state. This education does also not organized or structured as it is informal education. Learnings from incidents, radio, television, films, elders, peers, and parents get classified as informal education.

Informal learning helps little ones to grow and adapt to the ways and traditions of society, and they learn to adapt to the environment in a much better manner.

What is the difference between Formal and Informal Education?

Formal education stands recognized by the state as well as industry and people tend to get job opportunities based on the level of formal education they have achieved
Informal education does not recognized by the state but is important in the overall development of the individual. This system of learning is mostly incidental and verbal and not structured like formal education
The teachers in formal education receive formal training and are given the responsibility to teach based on their competency
Formal education takes place in classrooms while informal education takes place in life

There is a specially designed curriculum in formal education while there is no curriculum and structure in informal education.

The Difference between Formal Education and Informal Education:

Keys	Formal Education	Informal Education
Target Group	Full-time and Primary activity.	Mainly adults, those interested, voluntary and open.
Time Scale	Program	The Part-time and Secondary activity of participants.
Relevance	Separate form life, In the special institution, In sole purpose buildings.	Integrated with life, In the community, In all kinds of settings.
Education to meet learners.	Run by professionals, Excludes large parts of life.	It is participatory, Includes large parts of life.
Curriculum	One kind of education for all.	Egalitarian belief in Equal Right.
Methods	Teacher-centered, Mainly written.	Learner-centered, Much is Oral.
Objectives	Conformist.	Promotes.
Independence	Set by teachers, Competitive.	Set by learners and Controlled by Learners.
Orientation	Future.	Present.
Relationship	Hierarchical.	The terminal at each stage, Validated by education Professional.
Validation	The terminal at each stage, Validated by an education Professional.	Continuing validated by learners.

June 17, 2018

Difference between Central and Commercial Banks

The primary difference between Central and Commercial Banks; In any country’s financial sector, banks play a crucial role in the overall economic development, by mobilizing savings of individuals and entities. The Content of Difference between the Central Banks and Commercial Banks – Definition, Functions, Differences, Comparison, and Main Key Differences. They act as an intermediary between depositor and borrower. Besides lending money, banks provide various other value-added services, that help in the smooth functioning of the economy. Also, the Central bank, as the name suggests is the apex body, that regulates the entire banking system of the economy.

Learn, Explain the Difference between Central and Commercial Banks!

The Central bank is not the same as a commercial bank, which is the financial institution that provides banking services to individuals and firms. There is a big difference between the central bank and commercial bank in India, in the sense that the former is the top financial institution in the country, whereas the latter is an agent of the Central Bank. Check out the article in which we have compiled some differences in tabular form.

Definition of Central Banks:

Central Bank is the supreme financial institution that regulates the banking and monetary system of the country. It is formed to bring monetary stability, issue notes, and maintain the value of a country’s currency in the international market. It administers the currency and credit system of the nation.

In India, the Reserve Bank of India plays the role of a central bank, which came into existence, after passing an act in parliament in 1934. The bank is headquartered in Mumbai, Maharashtra.

The following are the main functions of the Central Banks:

It has the power to control, direct, and supervise commercial banks. Also helps them at the time of need.
It employs various measures to control the credit operations of the commercial banks.
It’s the banker and advisor to the government of the country.
It acts as a manager of foreign exchange reserves.
It collects and publishes information relating to the banking and financial sector.
It’s authorized to issue currency notes except coins and notes of small magnitude.
It oversees the credit and monetary policy of the nation.

Definition of Commercial Banks:

The entities that provide banking and financial services to a large number of people are known as Commercial Banks. They act as a mediator between the borrowers and savers. Also, Commercial Banks receive deposits from the general public and lends it at high interest to individuals and organizations. In this way, the mobilization of savings takes place, and the economic cycle goes on smoothly.

In earlier times, people used to deposit money in post offices for saving purposes, when the requirement of the banking system was felt. The people want an establishment where they can deposit their savings and withdraw them at the time of need. At present, there are more than 600 commercial banks in India, which include public sector banks, private sector banks, scheduled banks, non-scheduled banks, nationalized banks, etc.

The essential functions of a Commercial Bank are:

It accepts deposits from the general public, firms, institutions, and organizations. Further, it gives the facility to withdraw money on demand. Banks pay interest on deposits at various rates on different deposits.
The lends money to the public, institutions, and organizations in the form of long term and short term loans for a particular period and charges interest on the amount lent. Moreover, it provides overdraft and cash credit facilities to the customer.
It performs agency functions like collections of bills of exchange and promissory notes, trading of shares and debentures, payment to third parties on standing instructions of the customer, etc.
It provides the facility of safekeeping of valuables like jewelry and documents.
Collects, transfers, and makes payment of funds on behalf of the customer.
It provides the facility of ATM card, Debit Card, Credit Card, Cheques, etc., to its account holders.

Differences in Central Banks:

Work for the public welfare and economic development of a country. A central bank is governed by the government of a country.
Controls and regulates the entry banking system of a country.
Do not deal directly with the public. It issues guidelines to commercial banks for the economic development of the country.
Issues currency and control the supply of money in the Market.
Acts as a state-owned institution.
Act as a custodian of foreign exchange in the country.
Act as a banker to the Government.
Controls credit creations in the economy thus act as a clearinghouse of other banks.

Differences in Commercial Banks:

Operates for Profit Motive. The Majority of Stake is held by the government as well as the private sector.
Operates under the direct control and supervision of the central bank. In India, all the commercial banks work under the guidelines issued by RBI.
Deals directly with the Public. It serves the financial requirement of the public by providing short and medium terms loans and depositing and securing money that can be drawn on demand.
Does not Issue currency, but only adds to the approval of the central bank.
Acts as a state or privately owned institution.
Perform foreign exchange business only on the approval of the central bank.
Acts as agents of the central bank.
Acts as a clearinghouse only as an agent of the central bank.

Comparison of Central and Commercial Banks:

The Basis for Comparison	CENTRAL BANKS	COMMERCIAL BANKS
Meaning	The bank which looks after the monetary system of the country is known as Central Bank.	The establishment, which provides banking services to the public is known as Commercial Bank.
What is it?	It is a banker to the banks and the government of the country.	It is the banker to the citizens of the nation.
Governing Statute	Reserve Bank of India Act, 1934.	Banking Regulation Act, 1949.
Ownership’s	Public	Public or Private
Profit motive	It does not exist for making a profit for its owners	It exists for making a profit for its owners.
Monetary Authority	It is the supreme monetary authority with wide powers.	No such authority.
Objective	Public welfare and economic development.	Earning Profits
Money supply	Ultimate source of money supply in the economy.	No such function is performed by it.
Right to print and issue currency notes	Yes	No
Deals with	General Public	Banks and Governments
How many banks are there?	Only one	Many

Main Key Differences between Central and Commercial Banks:

The following are the differences between the central and commercial banks:

The bank, which monitors, regulates, and controls the financial system of the economy knows as Central Bank. The financial institution which receives deposits from people and advances them money is known as Commercial Bank.
Also, Central Bank is the banker to banks, government, and the financial institution, whereas Commercial Bank is the banker to the citizens.
The Central Bank is the supreme monetary authority of the country. As against this, the commercial bank does not have such authority and powers.
Central Bank of India i.e. the Reserve Bank of India is governed by RBI Act, 1934. Conversely, the Commercial Bank is regulating by the Banking Regulation Act, 1949.
The Central Bank is a publicly own institution while the Commercial Bank can be a publicly or privately owned institution.
The Central Bank does not exist for making a profit, whereas a commercial bank operates for making a profit for its owners.
Also, Central Bank is the fundamental source of money supply in the economy. While the commercial bank does not perform such a function on the contrary.
There is only one Central Bank in every country, but the Commercial Banks are many which serve the whole country.
The Central Bank does not deal with the general public, but Commercial Bank does.
The Central Bank has got the authority to print and issue the notes. Also, on the other hand, the commercial bank does not have such authority.
Bank main purpose of the Central Bank is a public welfare and economic development. In contrast Commercial Bank, which runs for-profit motive.

June 2, 2018

Difference between Cost and Financial Accounting

Cost Accounting and Financial Accounting Difference: Cost Accounting refers to that branch of accounting that deals with costs incurred in the production of units of an organization. A common question asked around, What is the Difference between Cost Accounting and Financial Accounting? On the other hand, financial accounting refers to the accounting concerned with recording financial data of an organization, to exhibit the exact position of the business. Also, take look at the difference between Cost and Management Accounting.

Learn, Explain the Difference between Cost and Financial Accounting!

Cost accounting generates information to keep a check on operations, to maximize profit and efficiency of the concern. On the other hand, Financial accounting ascertains the financial results, for the accounting period and the position of the assets and liabilities on the last day of the period. There is no comparison between these two because they are equally important for the users. This article presents you with the difference between cost accounting and financial accounting in tabular form.

Definition of Cost Accounting:

Cost Accounting is the field of accounting that uses to record, summarise, and report the cost information on a periodical basis. Its primary function is to ascertain and control costs. It helps the users of cost data to make decisions regarding the determination of selling price, controlling costs, projecting plans and actions, efficiency measurement of the labor, etc. also, Cost Accounting adds to the effectiveness of financial accounting by providing relevant information which ultimately results in the good decision-making process of the organization. It traces the cost incurred at each level of production, i.e. right from the input of the material till the output produced, every cost records.

There are two types of Cost Accounting systems, they are:

Non – Integrated Accounting System: The accounting system in which a separate set of books is maintaining for cost information.
Integrated Accounting System: The accounting system in which cost and financial data are maintaining in a single set of books.

Definition of Financial Accounting:

Financial Accounting is the branch of accounting, which keeps the complete record of all monetary transactions of the entity and reports them at the end of the financial period in proper formats that increases the readability of the financial statements among its users. Also, The users of financial information are many i.e. from internal management to outside parties. Preparation of financial statements is the major objective of financial accounting in a specified manner for a particular accounting period of an entity.

It includes an Income Statement, Balance Sheet, and Cash Flow Statement which helps in, tracing out the performance, profitability, and financial status of an organization during a period. Also, the information provided by financial accounting is useful in making comparisons between different organizations and analyzing the results thereof, on various parameters. In addition to this, the performance and profitability of various financial periods can also be compared easily.

Comparison of Cost and Financial Accounting:

Basis For Comparison	Cost Accounting	Financial Accounting
Meaning:	Cost Accounting is an accounting system, through which an organization keeps the track of various costs incurred in the business in production activities.	Financial Accounting is an accounting system that captures the records of financial information about the business to show the correct financial position of the company on a particular date.
Information type:	Also, Records the information related to material, labor, and overhead, which are used in the production process.	Records the information which are in monetary terms.
Which type of cost is used for recording?	Both historical and pre-determined cost	Only historical cost.
Users:	Information provided by the cost accounting uses only by the internal management of the organization like employees, directors, managers, supervisors, etc.	Also, Users of the information provided by financial accounting are internal and external parties like creditors, shareholders, customers, etc.
Valuation of Stock:	At cost	Cost or Net Realizable Value, whichever is less.
Mandatory:	No, except for manufacturing firms it is mandatory.	Yes for all firms.
Time of Reporting:	Details provided by cost accounting are frequently prepared and reported to the management.	Financial statements are reported at the end of the accounting period, which is normally 1 year.
Profit Analysis:	Generally, the profit is analyzed for a particular product, job, batch, or process.	Income, expenditure, and profit are analyzed together for a particular period of the whole entity.
Purpose:	Reducing and controlling costs.	Also, Keeping a complete record of the financial transactions.
Forecasting:	The forecasting is possible through budgeting techniques.	The forecasting is not at all possible.

The upcoming discussion will update you on the difference between cost and financial accounting.

The Difference in Cost Accounting:

The following difference below are;

Cost Accounting explains the principles, techniques, and methods for ascertaining the cost and to find out the variance in comparison with the standard and enquire reasons for such variation.
The objective of cost accounting is to ascertain the cost and allocates the same in respective places.
It applies to the manufacturing and service industries.
Also, Cost accounting supplies necessary information’s to the management for decision-making purposes.
Stocks are valued as per cost price in cost accounting.
Cost accounting determines the profit or loss of each item of product, process, etc.
There is no particular period for ascertaining the cost of a product.
Also, Cost accounting is based on the concept of costing principles.
They include data based on facts and figures and also on some estimates.
Also, Cost accounting considers the requirements of Sec. 209(1) of the Companies Act.
Cost accounting control, material labor and overhead costs with the help of Standard costing, Budgetary control, etc.
Usually, cost accounting provides services to internal management.

The Difference in Financial Accounting:

The following difference below are;

Financial accounting maintains records for keeping accounts relating to all monetary transactions.
The objective of financial accounting is to maintain records and to prepare final accounts.
It is applicable in all cases.
Also, Financial accounting supplies information’s to the management relating to profit or loss and financial positions.
In financial accounting, stocks are valued as per cost price or market price whichever is lower.
Financial accounting shows the profit or loss of a firm as a whole at a particular date.
In Financial Accounting, accounts are prepared periodically, usually at the end of the period.
Also, Financial accounting bases on the concept of GAAP.
Financial accounting takes data based on facts and figures only.
They meet the requirements of the Companies Act 1956, Sales Tax, Income-Tax, etc.
Financial accounting does not have any tool to control the financial transaction of the business.
Also, Financial accounting provides information to the internal as well as external users of accounting information.

The Main point of Differences Between Cost and Financial Accounting:

The following are the major differences between cost accounting and financial accounting:

Cost Accounting aims at maintaining the cost records of an organization. Also, Financial Accounting aims at maintaining all the financial data of an organization.
Cost Accounting Records both verifiable and pre-decided costs. On the other hand, Financial Accounting records just chronicled costs.
Also, Clients of Cost Accounting are restricted to interior administration of the element; though clients of Financial Accounting are inside just as outside gatherings.
In cost, accounting stock qualities at cost while in financial accounting, the stock qualities at the lower of the two for example cost or net feasible worth.
Cost Accounting is obligatory just for the association which participates in assembling and creative exercises. Then again, Financial Accounting is obligatory for all associations, just as consistent with the arrangements of the Companies Act and Income Tax Act, is additionally an unquestionable requirement.
Also, cost Accounting data reports intermittently at continuous spans; yet financial accounting data reports after the fruition of the financial year for example for the most part one year.
Cost Accounting data decide benefit identified with a specific item, work, or cycle. Instead of Financial Accounting, which decides the benefit for the entire association made during a specific period.
Also, the motivation behind Cost Accounting is to control costs; yet the reason for financial accounting is to keep total records of the financial data, in light of which detailing should be possible toward the finish of the accounting time frame.

May 29, 2018

Difference between Cost and Management Accounting

Cost and Management Accounting Difference; Cost accounting is a branch of accounting that aims at generating information to control operations to maximize profits and the efficiency of the company, that is why it is also termed control accounting. A common question asked around, What is the difference between the Cost Accounting and Management Accounting? Conversely, management accounting is the type of accounting that assists management in planning and decision-making and is thus known as decision accounting. Also learned, Financial and Management Accounting.

Learn, Explain the Difference between Cost and Management Accounting.

The two accounting system plays a significant role, as the users are the internal management of the organization. While cost has a quantitative approach, i.e. it records data that is related to money, management emphasizes both quantitative and qualitative data. Now, let’s understand the difference between cost accounting and management accounting, with the help of the given article.

Definition of Cost Accounting:

They are a method of collecting, recording, classifying, and analyzing the information related to cost. Also, the information provided by it is helpful in the decision-making process of managers. There are three major elements of cost which are material, labor, and overhead. The main aim of cost accounting is to track the cost of production and fixed costs of the company. Also, this information is useful in reducing and controlling various costs. It is very similar to financial accounting, but it is not reported at the end of the financial year.

Definition of Management Accounting:

Management Accounting refers to the preparation of financial and non-financial information for the use of management of the company. It is also termed managerial accounting. Also, the information provided by it helps make policies and strategies, budget, forecasting plans, making comparisons, and evaluating the performance of the management. The reports produced by management accounting are used by the internal management of the organization, and so they are not reported at the end of the financial year.

Comparison of Cost and Management Accounting:

The Basis of Comparison	Cost Accounting	Management Accounting
Meaning	The recording, classifying, and summarizing of cost data of an organization is known as cost accounting.	Also, the accounting in which both financial and non-financial information is provided to managers knows as Management Accounting.
Information Type	Quantitative.	Quantitative and Qualitative.
Objective	Ascertainment of cost of production.	Providing information to managers to set goals and forecast strategies.
Scope	Concerned with ascertainment, allocation, distribution, and accounting aspects of cost.	Impart and effect aspect of costs.
Specific Procedure	Yes	No
Recording	Records past and present data	It gives more stress on the analysis of future projections.
Planning	Short-range planning	Short-range and long-range planning
Interdependency	Can install without management accounting.	Cannot install without cost accounting.

The upcoming discussion will help you to differentiate between cost and management accounting.

The main difference between Cost and Management Accounting:

The following difference below are;

Objective:

The primary objective of Cost Accounting is to ascertain the cost of production as well as to control the same after careful analysis. On the other hand, the primary objective of Management Accounting is to supply the accounting information to the management for taking the proper decision.

Method:

In Cost, accounts are prepared according to predetermined standards and budgets. But in Management reports are submitted to the management after measuring the variance between the actual performances and the budgets. As a result, past errors and defects may rectify and, thereby, efficiency improves.

Accounting System:

The Double Entry System can apply in Cost Account, if necessary, whereas this is not adopting in the case of Management Account.

Accounting Period:

Normally, in Cost, statements of the current year’s activities are to prepare, i.e., importance is not according to future activities while, in Management, primarily future activities are considering.

Management Accounting relates to the whole affair of the concern, the capacity for making profits or losses, and the expectation for the future. To discharge its duties properly, it has to depend on both Financial Accounting and Cost Accounting. Therefore, Management Accounting may regard as the expansion of these two forms of accounting, viz., Financial Account, and Cost Account.

The main points of the difference between Cost and Management Accounting:

The accounting related to the recording and analyzing of cost data is cost account. Also, the accounting related to producing information which uses by the management of the company is management account.
Also, Cost provides quantitative information only. On the contrary, Management provides both quantitative and qualitative information.
Cost is a part of Management as the information uses by the managers for making decisions.
The primary objective of Cost Accounting is the ascertainment of the cost of producing a product but the main objective of management accounting is to provide information to managers for setting goals and future activity.
There are specific rules and procedure for preparing cost accounting information while there is no specific rules and procedures in case of management accounting information.
The scope of Cost Account limits to cost data however the Management Account has a wider area of operation like the tax, budgeting, planning and forecasting, analysis, etc.
Cost related to the ascertainment, allocation, distribution, and accounts face of cost. On the flip side, management associates with the impact and effect aspect of cost.
They stress short-range planning, but management accounting focuses on long and short-range planning, for which it uses high-level techniques such as probability structure, sensitivity analysis, etc.
While management accounting can’t install in the absence of cost accounting; Also, cost accounting has no such requirement, it can install without management accounting.

May 29, 2018

Difference between the Financial and Management Accounting
Financial Accounting and Management Accounting are two interrelated facets of the accounting system. A common question asked around, What is the primary difference between the Financial and Management Accounting? Financial accounting provides the basic structure for collecting data. The data collection structure is suitably modifying or adjusts for accumulating information for management accounting purposes. They are not exclusive of each other; they are supplementary.

What is the Difference between Financial and Management Accounting? Discussion.

In a broader sense, management accounting includes financial accounting. They differ in their emphasis and approaches.

Difference between Financial and Management Accounting – Table

Basic Difference:

They are as follows;
1. Financial serves the interest of external users (i.e. investors etc.) while management caters to the needs of internal users (i.e. management).
2. Financial accounts govern by the generally accepted accounting principles while management accounts no set principles.
3. The Financial presents historical information while management represents predetermined as well as past information.
4. Financial accounts statutory while management accounts optional.
5. Financial accounting presents annual reports while management accounting reports are of both shorter and longer durations.
6. The Financial reports cover the entire organization while management reports are prepared for the organization as well as its segments.
7. The financial account emphasizes the accuracy of facts while the management account requires prompt and timely reporting of facts even if they are less precise.
This article will explain to you the difference between financial accounting and management accounting.

Focus:

Financial accounting emphasized the external use of accounting data. Management accounting, on the other hand, utilizes accounting data for internal uses. The major objective of financial accounting is to prepare a balance sheet and profit and loss account to inform shareholders and others about the firm’s profitability and the state of its resources and obligations. The purpose for which management accounting collects and reports relevant information is to make decisions to ensure optimum use of the firm’s resources.

Principle:

The accounting profession has developed certain principles for preparing and presenting financial reports for external uses. Financial accounting adheres to these generally accepted accounting principles. This introduces consistency and meaningfulness of data from the investors’ point of view. They can make inter-firm comparisons of performance and analyze performance trends over the years when some set of generally accepted principles are followed by all firms.

Management accounting, in contrast, is not based on any set of accepted rules or principles. Every enterprise, depending on its requirements for facts, evolves its procedures and principles for preparing reports for internal uses. The information should be relevant and aid management in making decisions.

Information:

Financial accounting accumulates and reports historical information to investors. Financial accounting reports tell what has happened in the past. Through balance sheet and profit and loss account, to the investors is revealed how the resources entrusted by them to the firm have been utilized. Management accounting being a decision-making process focuses on the future. It analyses past data and adjusts them in the light of future expectations to make plans.

Need:

Financial accounting is an outcome of the statute. For example, in India, it requires under the Companies Act, 1956 to prepare the balance sheet and profit and loss account for submission to shareholders and others. The financial statements are generally required to prepare in the formats prescribed by the law.

Management accounting is the result of the management’s need for information for making decisions. It is, therefore, optional. Management accounting functions would differ from firm to firm. A firm may have a sophisticated, elaborate, and comprehensive system while another may have a partial system only.

Timing:

Financial accounting adopts twelve months (one Year) period for reporting financial performance to shareholders and other investors. In contrast, management accounting reports are for shorter durations. Some companies in India prepare daily budgets. Monthly and quarterly reports are quite common. Management accounting information also collects for preparing long-term plans for five or more years. Capital expenditure plans, for example, cover a longer duration.

Coverage:

While reporting the state of affairs of a company, financial accounting covers the entire organization. Financial statements show revenues, expenses, assets, and equities of the firm as a whole. For management accounting purposes, however, the organization is divided into smaller units or centers. These centers may head by responsible persons. Cost data and other information are collecting and reporting by these centers. Thus, the data requirements of management accounting are more specific.

Reporting:

Financial statements-balance sheet and profit and loss account – are subject to the verification of statutory audit. Therefore, financial accounting stresses the accuracy and precision of accounting data. Management accounting requires information promptly for decision-making. The continuous and speedy flow of approximate information is more useful than the precise but delayed information.

The above points of difference between Financial Accounting and Management Accounting (Hindi Medium) prove that Management Accounting is a flexible approach as compared to the rigid approach in the case of Financial Accounting. In brief, financial accounting simply shows how the business has moved in the past while management accounting shows how the business has to move in the future.

Difference between Financial and Management Accounting.
May 29, 2018

Discuss the Compare of Coordination and Cooperation

Before Discuss the Compare of Co-Ordination and Co-Operation, first looking at their definition of Coordination and Cooperation. Coordination refers to the organization of all the activities in an orderly manner, to achieve unanimity of individual efforts in the pursuit of group goals. On the flip side, cooperation is a discretionary action of individuals to work together or help one another, for a mutual benefit. It is a joint effort of the members working in the organization for accomplishing a defined target. Also Learned, Essay on the Co-ordination of an Organization, Discuss the Compare of Coordination and Cooperation.

Here are Learn, Discuss the Compare of Coordination and Cooperation.

Definition of Coordination:

By coordination, we mean a cycle, utilized by the administration to synchronize different exercises in the association. The power connects the wide range of various capacities performed by the administration, for example arranging, coordinating, putting together, controlling, staffing, driving, and so forth association, to make the most ideal utilization of the association’s assets.

Coordination assumes a critical function in keeping up routineness in tasks, for example, buy, creation, deals, human asset, showcasing, account, and so forward, as it is the consistent idea that associates all the exercises. It is something, which is natural in all administrative capacities. The cycle focuses on the efficient administration of individual or collective endeavors to guarantee unanimity in real life, in the achievement of normal destinations.

Definition of Cooperation:

We characterize cooperation as an optional action in which at least two people consolidate and work in the quest for shared objectives. In this cycle, the individuals from the association put forth joined attempts, for inferring common advantages. Along these lines, each member is required to effectively partake in the gathering movement, really at that time they can be in an ideal situation.

Cooperation is available in all the degrees of the association and happens between the individuals from the association. Aside from business, cooperation likewise happens at the public and worldwide level, for example between various states and nations of the world.

Through cooperation, the data can share among members effectively, which builds the information base, work performed, and assets, in a skilled way.

Differences between Coordination and Cooperation:

Basis	Coordination	Cooperation
Meaning	It is an orderly arrangement of group efforts in pursuit of common goals.	It means mutual help willingly.
Scope	It is broader than co-operation which includes as well because it harmonizes the group efforts.	It is termed as a part of coordination.
Process	The function of coordination is performed by top management.	The functions of co-operation are prepared by persons at any level.
Requirements	Co-ordination is required by employees and departments at work irrespective of their work.	Co-operation is emotional in nature because it depends on the willingness of people to work together.
Relationship	It establishes formal and informal relationships.	It establishes an informal relationship.
Freedom	It is planned and entrusted by the central authority & it is essential.	It depends upon the sweet will of the individuals and therefore it is not necessary.
Support	It seeks wholehearted support from various people working at various levels.	Co-operation without co-ordination is fruitless & therefore it may lead to unbalanced developments.

Therefore, the existence of co-operation may prove to be an effective condition or requisite for co-ordination. But it does not mean that co-ordination originates automatically from the voluntary efforts of the group of members. It has to be achieved through conscious & deliberate efforts of managers, therefore to conclude we can say that co-operation without co-ordination has no fruit and co-ordination without co-operation has no root.

The Main Key Differences Between Coordination and Cooperation:

The following points are noteworthy so far as the difference between coordination and cooperation is concerned:

The methodical game plan and synchronization of various components of the executives to guarantee, smooth working, know as coordination. The demonstration of working together or following standards, for the acknowledgment of shared objectives, calls cooperation.
Coordination is a basic action of the board; that helps in accomplishing agreement in real life among different related exercises and branches of the association. Actually, cooperation relies upon the desire of any individual, for example, to work with or help somebody willfully, for achieving regular destinations.
Coordination of a devise cycle performed to incorporate various exercises of the association. Then again, cooperation is a characteristic cycle, which isn’t arranged however happens precipitously, out of shared regard.
Coordination is a persistent capacity of the board. Thus, it is as long as possible. As against this, the cooperation of people is needed for achieving an errand or movement, consequently, it is for the momentary as it were.
Coordination may bring about the foundation of formal and casual connections. Dissimilar to, cooperation offers to ascend to the casual connection between people.
In coordination, there is open correspondence between all the individuals from the association. As restricted, implicit correspondence happens between people in cooperation.
Coordination of exercises performs at high-level administration, though cooperation performs at each level.

Relationship Between Coordination and Cooperation:

Co-ordination is a systematic plan of collective endeavors to give solidarity of activity in the quest for common destinations. It implies uniting the endeavors of various components of the association to give them the solidarity of direction. While cooperation indicates the collective endeavors of individuals working in the association intentionally to accomplish a specific reason.

The presence of co-operation among the individuals from a gathering encourages co-ordination. In any case, coordination doesn’t start from the deliberate endeavors of the gathering individuals. It must accomplish by the conscious endeavors of the administration.

For example, five people occupied with pushing a taxi out of the mud have a solid demeanor of co-operation. Be that as it may, they may not be effective except if one of them gives leadership and coordinates the exercises of all. Similarly, the ensemble conductor coordinates the endeavors of the individuals from his gathering to delivering fine music.

So, co-operation without co-ordination has no organic product, and coordination without co-operation has no root. Co-operation and co-ordination go hand in hand and one is the venturing stone of the other. A decent chief attempts to accomplish both because just through cooperation and coordination he can complete things through others.

May 25, 2018

What is the Concept of Investment? Saving and Investing

Concept of Investment – Investment is the employment of funds to get the return on it. In general terms, investment means the use of money in the hope of making more money. In finance, investment means the purchase of a financial product or another item of value with an expectation of favorable future returns. A study, PDF Reader with free Download PDF File. Also learn, Two Types: economic and financial investment, Difference between Saving and Investing, GST, What is the Concept of Investment?

Learn and Understand, What is the Concept of Investment?

What is Investment? An investment is an asset or item acquired to generate income or appreciation. In an economic sense, an investment is the purchase of goods that do not consume today but use in the future to create wealth. In finance, an investment is a monetary asset purchased with the idea that the asset will provide income in the future or will later sell at a higher price for a profit, mutual funds.

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Investment of hard-earned money is a crucial activity of every human being. Also, Investment is the commitment of funds that have been saved from current consumption with the hope that some benefits will be received in the future. Thus, it is a reward for waiting for money. Savings of the people invest in assets depending on their risk and return demands. Also Importance, Industrial Relations!

Investment refers to the concept of deferred consumption, which involves purchasing an asset, giving a loan, or keeping funds in a bank account to generate future returns. Various investment options are available, offering differing risk-reward tradeoffs. An understanding of the core concepts and a thorough analysis of the options can help an investor create a portfolio that maximizes returns while minimizing risk exposure.

There are two concepts of Investment:

Economic Investment:

The concept of economic investment means an addition to the capital stock of the society. Also, The capital stock of the society is the goods that use in the production of other goods. The term investment implies the formation of new and productive capital in the form of new construction; and, producers of durable instruments such as plants and machinery. Also, Inventories and human capital include in this concept. Thus, an investment, in economic terms, means an increase in building, equipment, and inventory.

Financial Investment:

This is an allocation of monetary resources to assets that expect to yield some gain or return over a given period of time. It means an exchange of financial claims such as shares and bonds, real estate, etc. Financial investment involves contracts written on pieces of paper such as shares and debentures. People invest their funds in shares, debentures, fixed deposits, national saving certificates, life insurance policies, provident fund, etc. in their view investment is a commitment of funds to derive future income in the form of interest, dividends, rent, premiums, pension benefits and the appreciation of the value of their principal capital. In primitive economies, most investments are of the real variety whereas in a modern economy much investment is of the financial variety.

The economic and financial concepts of investment are related to each other; because, investment is a part of the savings of individuals; which flow into the capital market either directly or through institutions. Thus, investment decisions and financial decisions interact with each other. Also, Financial decisions are primarily concerned with the sources of money whereas investment decisions are traditionally concerned with the uses or budgeting of money.

Wise investing requires knowledge of key financial concepts and an understanding of your personal investment profile and how these work together to impact investing decisions. Here we will understand the difference between saving and investing. Illustrate the risk/rate-of-return tradeoff, the importance of the time value of money and asset allocation; your personal risk tolerance, recognize your financial goals, and in defining an appropriate investment plan and asset mix for you and your family

The Difference Between Saving and Investing:

Even though the words “saving” and “investing” are often used interchangeably, there are differences between the two.

Saving provides funds for emergencies and for making specific purchases in the relatively near future (usually three years or less). Also, the Safety of the principal and liquidity of the funds (ease of converting to cash) are important aspects of savings Rupees. Because of these characteristics, savings Rupees generally yield a low rate of return and do not maintain purchasing power.

Investing, on the other hand, focuses on increasing net worth and achieving long-term financial goals. Investing involves risk (of loss of principal) and is to consider only after you have adequate savings.

Savings v/s Investment Rupees
Savings Investment
Safe Involve risk
Easily accessible Volatile in short time periods
Low return Offer potential appreciation
Used for short-term goals For mid- & long-term goals

What is the Concept of Investment? Saving and Investing,

May 15, 2018
Do you Know What are Employee Relations?

Learn and Understand, Do you Know What are Employee Relations?

Employee Relations, An organization can’t perform only with the help of chairs, tables, fans or other non-living entities. It needs human beings who work together and perform to achieve the goals and objectives of the organization. The human beings working together towards a common goal at a commonplace (organization) are called employees. In fact, the employees are the major assets of an organization. Also learn, Employee and Industrial Relations, Do you Know What are Employee Relations?

“The success and failure of any organization are directly proportional to the labor put by each and every employee.” The employees must share a good rapport with each other and strive hard to realize the goal of the organization. They should complement each other and work together as a single unit. For the employees, the organization must come first and all their personal interests should take a back seat.

Definition of Employee Relations:

“Communications between management and employees concerning workplace decisions, grievances, conflicts, problem resolutions, unions, and issues of collective bargaining.”

According to the Chartered Institute of Personnel Development, the use of industrial relations to describe workplace relations is no longer as prevalent, due to the widespread deindustrialization of developed economies and declining union membership. Instead, employers now use the term “employee relations,” which refers to relationships that exist in both unionized and nonunionized workplaces. Employers hope to manage employee relations successfully with each respective individual, as a means to raise morale and productivity.

Employee relations is your company’s structure of managing the rapport between the bosses and the staff. “Well in that case, what is the difference between HR and employee relations?”

That’s an easy one, employee relations are just one facet of the role of HR. HR is an umbrella term which includes tasks such as payroll, updating employee databases and many more responsibilities – one of these being managing ER.

Our knowledge of how important ER is has helped us shape how we make our HR software. Features such as letting an employee clearly keep track of their staff benefits and tools to let their workers get to know more about them are all in place to create a happier workplace.

Better Understand, What are Employee Relations?

Every individual shares a certain relationship with his colleagues at the workplace. The relationship is either warm, so-so or bad. The relationship can be between anyone in the organization – between co-workers, between an employee and his superior, between two members in the management and so on. It is important that the employees share a healthy relationship with each other to deliver their best performances.

An individual spends his maximum time at the workplace and his fellow workers are the ones with whom he spends the maximum hours in a day. No way can he afford to fight with his colleagues. Conflicts and misunderstandings only add to tensions and in turn, decrease the productivity of the individual. One needs to discuss so many things at work and needs the advice and suggestions of all to reach a solution which would benefit the individual as well as the organization.

No individual can work alone. He needs the support and guidance of his fellow workers to come out with a brilliant idea and deliver his level best.

Employee relations refer to the relationship shared among the employees in an organization.

The employees must be comfortable with each other for a healthy environment at work. It is the prime duty of the superiors and team leaders to discourage conflicts in the team and encourage a healthy relationship among employees.

Life is really short and it is important that one enjoys each and every moment of it. Remember in an organization you are paid for your hard work and not for cribbing or fighting with each other. Don’t assume that the person sitting next to you is your enemy or will do any harm to you. Who says you can’t make friends at work, in fact, one can make the best of friends in the office. There is so much more to life than fighting with each other.

Observation says that a healthy relationship among the employees goes a long way in motivating the employees and increasing their confidence and morale. One starts enjoying his office and does not take his work as a burden. He feels charged and fresh the whole day and takes each day at work as a new challenge. If you have a good relationship with your team members you feel going to office daily. Go out with your team members for a get together once in a while or have your lunch together. These activities help in strengthening the bond among the employees and improve the relations among them.

An employee must try his level best to adjust to each other and compromise to his best extent possible.

If you do not agree with any of your fellow worker’s ideas, there are several other ways to convince him. Sit with him and probably discuss with him where he is going wrong and needs a correction. This way he would definitely look up to you for your advice and guidance in future. He would trust you and would definitely come to your help whenever you need him. One should never spoil his relations with his colleagues because you never know when you need the other person.

Avoid using foul words or derogatory sentences against anyone. Don’t depend on lose talk in office as it spoils the ambiance of the place and also the relationships among the employees. Blame games are a strict no-in office.

One needs to enter his office with a positive frame of mind and should not unnecessarily make issues out of small things.

It is natural that every human being cannot think the way you think, or behave the way you behave. If you also behave in the similar way the other person is behaving, there is hardly any difference between you and him. Counsel the other person and correct him wherever he is wrong.

It is of utmost importance that employees behave with each other in a cultured way, respect each other and learn to trust each other. An individual however hardworking he is, cannot do wonders alone. It is essential that all the employees share a cordial relation with each other, understand each other’s needs and expectations and work together to accomplish the goals and targets of the organization.

May 10, 2018
Difference between Internal and External Sources of Recruitment
Internal and External Sources of Recruitment Difference: Recruitment is the process of attracting the potential candidates and motivating them to apply for the jobs or selecting skilled and right candidates from the pool of applicants and appointing them for the right jobs. Her strategic thinking and decision-making can help in finding potential candidates. Also, human resources are one of the scarce resources and it is becoming a challenge to find the right candidate for the right job in the organizations. Also learn, Recruitment.

Learn, What is the difference between Internal and External Sources of Recruitment?

So organizations are approaching consultancies to find skilled and efficient employees to get a competitive advantage. Approaching recruitment agencies can give better results, but it is expensive and may not suitable for all organizations.

Recruitment involves searching for the right candidates and motivating them to apply for the openings in the organization. Here sources of recruitment are two types i.e., Internal and External Sources of Recruitment of Employees!

This article will help you to differentiate between internal and external sources of recruitment.

The Difference Internal Sources:

The following content is below, also learn, What is the Internal Sources of Recruitment?
1. In the case of internal sources of recruitment, the management has a restricted choice vis-a-vis, the source out of which recruitment shall be done, as the only person available is either the existing or ex-employees of the organization.
2. The cost of recruiting from internal sources is nil or negligible.
3. Not much time is involved in recruiting personnel from internal sources; as employees are already available with the organization. Further, ex-employees of the organization could trace without taking much time.
4. Selection formalities are minimum; as candidates from internal sources had already gone through detailed selection-procedure earlier. This saves, again time and cost, involving in undertaking the selection procedure.
5. Candidates from internal sources, do not require any orientation (i.e. introduction); as this personnel is already familiar with various aspects of the organization, and it’s functioning.
6. Only limited talent is available when personalized recruiting from internal sources. Their talents – existing and potential are already known to management.
7. Candidates comprised of internal sources are said to have high morale; especially in cases of recruitment for promotion purposes
8. The phenomenon of labor turnover is likely to minimize; when employees of the organization wait for their chances for promotion – especially in cases of time-bound promotions.
9. Candidates picked up from internal sources quite advance in age; as they have already served the organization, for some time, in the past.
10. Candidates from internal sources might or might not be suitable for newer types of jobs, arising in the organization.
The Difference External Sources:

The following content is below, also learn, What is the External Sources of Recruitment?
1. In case of external recruitment, the management has quite a wide choice vis-a-vis, the sources out of which recruitment could do; as a large number of sources are available – which could compare based on their relative worth. And best sources of recruitment can finalize, based on such relative analysis.
2. The cost of recruiting from external sources is from moderate to considerable – depending on particular sources.
3. A detailed selection procedure has to undertake for carefully selecting candidates, from external sources. This also means time and cost, involving in undertaking the selection procedure.
4. Much time is involving in recruiting personnel from external sources; as people take time to notice vacancies and yet take more time again to apply for jobs, to the organization.
5. Needless to say that candidates from external sources require orientation; being absolutely new to the organization. This necessitates orientation training programs for them.
6. Extra-ordinary talented personal might procure, from external sources – depending on the particular sources finalize for recruitment, and on chance factor also.
7. New candidates from external sources could not expect to have high morale for the organization, at least initially i.e. at the time of joining the organization.
8. Labor turnover is quite likely; in case organizational jobs do not suit the recruits.
9. Candidates from external sources are usually of a lower age i.e. belong to the young group of the population. In fact, minimum and maximum ages are an important requirement for candidates from external sources.
10. For newer types of jobs, suitable candidates might recruit from a variety of external sources of recruitment.
Difference between Internal Sources of Recruitment and External Sources of Recruitment
April 19, 2018

Savings v/s Investment Rupees
Savings	Investment
Safe	Involve risk
Easily accessible	Volatile in short time periods
Low return	Offer potential appreciation
Used for short-term goals	For mid- & long-term goals

Tag: Difference

Understanding and Learn, Explain the Difference between Traditional Economics and Managerial Economics!

What is traditional economics? Meaning.

What is managerial economics? Meaning.

What is the Difference between Traditional Economics and Managerial Economics?

The difference in Traditional Economics:

The difference in Managerial Economics:

Another Main difference between Traditional and Managerial in without table:

What is the difference between economics and managerial economics? Some Explanation.

Explain Into Ten, Learn, Ten Differences in Formal and Informal Education!

What is Formal Education?

What is Informal Education?

What is the difference between Formal and Informal Education?

The Difference between Formal Education and Informal Education:

Learn, Explain the Difference between Central and Commercial Banks!

Definition of Central Banks:

The following are the main functions of the Central Banks:

Definition of Commercial Banks:

The essential functions of a Commercial Bank are:

Differences in Central Banks:

Differences in Commercial Banks:

Comparison of Central and Commercial Banks:

Main Key Differences between Central and Commercial Banks:

Learn, Explain the Difference between Cost and Financial Accounting!

Definition of Cost Accounting:

Definition of Financial Accounting:

Comparison of Cost and Financial Accounting:

The Difference in Cost Accounting:

The Difference in Financial Accounting:

The Main point of Differences Between Cost and Financial Accounting:

Learn, Explain the Difference between Cost and Management Accounting.

Definition of Cost Accounting:

Definition of Management Accounting:

Comparison of Cost and Management Accounting:

The main difference between Cost and Management Accounting:

Objective:

Method:

Accounting System:

Accounting Period:

The main points of the difference between Cost and Management Accounting:

What is the Difference between Financial and Management Accounting? Discussion.

Basic Difference:

Focus:

Principle:

Information:

Need:

Timing:

Coverage:

Reporting:

Here are Learn, Discuss the Compare of Coordination and Cooperation.

Definition of Coordination:

Definition of Cooperation:

Differences between Coordination and Cooperation:

The Main Key Differences Between Coordination and Cooperation:

Relationship Between Coordination and Cooperation:

Learn and Understand, What is the Concept of Investment?

Economic Investment:

Financial Investment:

The Difference Between Saving and Investing:

Learn and Understand, Do you Know What are Employee Relations?

Definition of Employee Relations:

Better Understand, What are Employee Relations?

Employee relations refer to the relationship shared among the employees in an organization.

An employee must try his level best to adjust to each other and compromise to his best extent possible.

One needs to enter his office with a positive frame of mind and should not unnecessarily make issues out of small things.

Learn, What is the difference between Internal and External Sources of Recruitment?

The Difference Internal Sources:

The Difference External Sources: