Accounting

Liability vs Debt

Liability vs Debt
Debt is every similar to liabilities. Both refer to obligations in which money needs to be paid back. In most instances, debt includes all liabilities, especially when calculating debt-to-equity ratio. However...

Assets vs Liabilities in Banking

Assets vs Liabilities in Banking
An asset is anything that can be utilized to make more money. A liability is an obligation on which money has to be paid. In terms of banking, an asset is anything on which one earns an interest, whereas a...

Fiscal Year vs Financial Year

Fiscal Year vs Financial Year
The terms Fiscal Year and Financial Year are synonymous, i.e. meaning the same thing. They are a period that governments use for accounting and budget purposes. However, they are also the duration on which tax...

Turnover vs Sales

Sales turnover and sales is quite similar in nature. Sales are the revenue that is earned by a company via sale of its product. Similarly, sales turnover is the amount of money that is earned by a company...

Turnover vs Profit

Turnover vs Profit
Turnover represents the value of goods and services provided to customers during a specified time period. Profit is basically the revenue minus the costs incurred.

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