Process Costing- A Guide with Illustrations
What is Process Costing? Process costing is a subset of operation costing typically applicable to manufacturing entities mass-producing a homogeneous product. It is a GAAP approved system of costing. …
Mortgagee vs Mortgagor – All You Need To Know
Mortgagee and Mortgagor are the terms that come into use, usually in the context of home financing. Both the terms relate to the parent term ‘Mortgage,’ which means ‘collateral’ …
Stocks vs Shares – All You Need To Know
Most of the times, the difference between stock and share is not evident enough to be taken note of. Therefore, people use both the terms interchangeably to talk about …
Non-Profit vs Not-for-Profit – All You Need To Know
Not-for-Profit and Non-profit are often confused to be the same. Thus, people actively use both the terms for businesses that prefer not to share the profit with the owners …
Absolute Advantage vs Comparative Advantage – All You Need To Know
Absolute advantage and comparative advantage are two very important terms used in economics. Both terms usually come in use when talking about International Trade. Both these are simple terms …
Trademarks- A Contemporary Summary
What are Trademarks? A trademark is a unique characterization given to a product in order to distinguish it from other similar or competitive products. A trademark can take the …
Copyright- The Long and Short of It
What is Copyright? A copyright is a legal entitlement bestowed upon the author/creator to secure complete exclusivity and control over their original works. Their scope includes but is not …
Mutual Fund vs Hedge Fund – All You Need To Know
Hedge funds and mutual funds are often misunderstood to be the same as both require pooling of funds from the investors. Fund managers manage both types of funds, and …
Balance of Trade vs. Balance of Payment – All You Need To Know
If you want to know about the transactions that your country makes with the rest of the world or about foreign exchange or international trade, then you must know …
Production vs Manufacturing – All You Need To Know
Production and manufacturing are usually understood to be the same and used interchangeably when referring to creating goods. However, production and manufacturing have minor differences among them regarding the …
