Difference between financial performance measurement and non-financial performance measurement

Definitions: Financial performance measurement: Financial performance measurement is a measure of financial health of a company. These measures are used to determine that how well a company is using its available resources in order to generate sustainable revenues and operating income. Non-financial performance measurement: Non-financial performance measurement is a measure for establishment of non-financial indicators … Read moreDifference between financial performance measurement and non-financial performance measurement

Difference between financial and managerial accounting

Definitions: Financial Accounting: Financial accounting is a branch of accounting that deals with the recording and summarizing of financial transactions and presenting information in form of financial statements that reflect a fair picture of financial health of a business. Management Accounting: Management accounting refers to such accounting which helps the management of a company to … Read moreDifference between financial and managerial accounting

Difference between executive and non-executive directors

Definitions and meanings: Executive Director: Executive directors are working employees of an organization who are responsible for the top strategic decision-making. The main domain of an executive director is the effective running of business operations. Each executive director has a specific duty to perform based on his department. Executive directors can also be called as … Read moreDifference between executive and non-executive directors

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