Author: Terms compared staff

Accounting vs finance

Financial transactions are of significant importance for entities, especially for business entities whose main motive is profit generation. They involve either an inflow or outflow of funds and thus have a direct impact on...

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Expense vs liability

The financial statements of a business which report its profitability and financial position primarily consist of a profit and loss account and a balance sheet. Accounts recorded in these financial statements fall in either of...

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