Difference Between Tax Planning and Tax Avoidance
An assessee can reduce his/her tax liability, by legitimate means, in two ways – tax planning and tax avoidance. The former is described as the arrangement of financial activities in a way that the assessee [...]
Difference Between Internal Audit and External Audit
An audit performed in an organisation is broadly classified into two categories, as Internal Audit and External Audi. Internal Audit is not compulsory by nature but can be conducted to review the operational activities of the organisation. [...]
Difference Between Statutory Audit and Tax Audit
Audit means an examination of books of accounts, conducted with the purpose of establishing the fact that the accounting records presents a true and fair view. Many people get confused amidst statutory audit and tax [...]
Difference Between Accounting and Auditing
Accounting is an activity of record keeping and preparation & presentation of the financial statement, whereas Auditing is an activity of verification and evaluation of financial statement. So, Auditing starts where Accounting ends. These two [...]
Difference Between Bookkeeping and Accounting
Many times accounting is juxtaposed with bookkeeping, in fact, the individuals of non-commerce background think that both are same. This article excerpt will make an attempt to distinguish the two terms. The first step to [...]
How Your Small Business Can Sell in China Today
Small business has been a big focus for President Trump and his administration. Recently, he met with Executive Chair of Alibaba Group Jack Ma, where they declared their joint intention to help create a million [...]
