Difference between one-tier and two-tier board of directors

Definitions and meanings: Board of directors comprises of a group of people who administers and governs the activities of an organization. The organization can be a profit seeking, non profit seeking, governmental or a non-governmental organization (mostly termed as Non Government Organization or NGO). One-tier board of directors (also known as unitary board of directors) … Read moreDifference between one-tier and two-tier board of directors

Difference between centralization and decentralization

Definition: Centralization and decentralization are two types of systems based on which the decision-making takes place within a business or an organization. Difference between centralization and decentralization The main points of difference between centralization and decentralization are given below: 1. Concentration of power: Centralization, within an organization refers to the concentration of authority of decision-making … Read moreDifference between centralization and decentralization

Difference between income statement and statement of cash flows

Definitions and meanings Income statement: The income statement reflects a company’s revenue and total expenses. These include non-cash items such as depreciation and amortization over a given accounting period. The income statement, which is made up of operating and non-operating activities, determines the performance of a company i.e. profits generated and owner’s equity. The entries … Read moreDifference between income statement and statement of cash flows