Tag Archives | Comparison

Public and Private Finance: Similarities and Difference

In this article we will discuss about the similarities and difference between public and private finance. Similarities between Public and Private Finance: While the individual is concerned with the utilization of labour and capital at his disposal, in order to satisfy some of his wants, the state is concerned with the utilization of the labour […]

Comparison among Revenues, Expenses, Gains and Losses

Learn about the comparison among revenues, expenses, gains and losses. 1. Revenues and gains are similar in several ways, but some differences are significant, especially in displaying information about an enterprise’s performance. Revenues and expenses provide different kinds of information from gains and losses, or at least information with a different emphasis. Revenues and expenses […]

Comparison between USA’s FAS 33 and UK’s SSAP 16

FAS 33 (USA) and SSAP 16 (UK) differ in the following respects: 1. General Requirements: SSAP 16 calls for a complete profit and loss account and complete balance sheet on a current cost basis that may be presented as supplementary information or as the “main accounts with supplementary historical cost accounts” or as “the only […]

Comparison between Cost Audit and Financial Audit

This article throws light upon the three points of comparison between cost audit and financial audit. The points are: 1. Functional Relationship 2. Co-Operation and Co-Ordination: Cost Audit and Financial Audit 3. Co-Operation and Co-Ordination: Cost Audit and Financial Audit. Comparison: Point # 1. Functional Relationship: There are some fundamental differences between the three forms […]

Standard Cost and Estimated Cost | Cost Accountancy

Learn about the comparison between Standard Cost and Estimated Costs. (i) Objective: Estimated costs are intended to ascertain what the costs will be while standard costs aim at what costs should be. (ii) Calculation: Estimated costs are calculated on the basis of past performance being adjusted in the light of anticipated changes in the future. […]

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