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Articles by Kiran Kumar Panigrahi
Page 27 of 32
Difference Between 2D and 3D Shapes
2D shapes are flat with only length and breadth, while 3D shapes are solid objects with length, breadth, and height. In this brief article, we will take a look at the features of 2D and 3D shapes and identify how they differ from each other.2D ShapesA 2D shape has two dimensions, that is, Length and Breadth. 2D shapes are flat because they don't have any height or depth. Examples of 2D shapes include circle, rectangle, square, polygons, etc.Since 2D shapes don't have any height, they don't have any volume either. 2D shapes have only areas. 2D shapes are drawn using ...
Read MoreDifference between accrual and provision.
Accruals and Provisions are concepts in Financial Accounting that are used in different types of situations. Provisions are done for expenses that have not been occurred yet, while Accruals are funds kept aside to clear the unpaid dues. In this article, we will have a detailed look at how Accruals and Provisions are used in Accounting.What is Accrual in Accounting?The Accrual Principle is a concept in Accounting where the financial transactions are recorded during the same time period in which they occur, however the actual cash flow may occur at a later stage. For example, suppose a company supplies goods ...
Read MoreDifference between JSP and ASP
JSP and ASP are both server-side scripting languages. JSP is Java based and is developed by Sun Microsystems, whereas ASP is developed by Microsoft and is also referred as Classic ASP. Whenever a browser requests a JSP or ASP page, the server engine reads the file, executes the code in file and returns the HTML output to the browser.JSP is compiled, whereas ASP is interpreted. ASP.NET is a .NET based variant of ASP where the codes are compiled to improve the performance.What is ASP?ASP is a server-side scripting engine, which means the code that is written gets sent to the ...
Read MoreDifference between Threat and Attack
From a security standpoint, threats and attacks are two critical occurrences. From the perspective of network security, it is critical to grasp the differences between the two.A threat in the realm of information security is the presence of a persistent hazard to information integrity. This might take the shape of a human, a computer virus or malware, or something else.An attack, on the other hand, is the actual act of exploiting the information security system's weaknesses.There are a number of network security dangers and attacks to be aware of, such as Information theft and fraud, putting a halt to routine ...
Read MoreHow to split a string in Golang?
Splitting a string means being able to get a part of a string, and that part can either be based on a position or a character in the string.In Go, if we want to split a string on the basis of positions, we can make use of the [ ] (square brackets) and then pass the indices in them separated by a colon.SyntaxConsider the syntax shown below.sl[startingIndex : EndingIndex]It should be noted that the element at the EndingIndex in the slice won't be considered, as the range is from startingIndex to (EndingIndex−1).Example 1Now, let's consider an example where we will ...
Read MoreCurrent, non-current and contingent liabilities
Classification of LiabilitiesDifferent types of liabilities can fall under the following three categories −Current liabilities are the liabilities that are due and payable within one year. These are also known as "short-term liabilities".Non-current liabilities are the liabilities that have to be cleared after a year or more, hence these are also known as "long-term liabilities".Contingent liabilities are a separate category of liabilities that may or may not arise, depending on a certain event.Current LiabilitiesCurrent liabilities are debts or obligations that need to be paid within a year. Current liabilities should be closely watched by management to ensure that the company ...
Read MoreWhat is Deferred Tax?
The term "deferred tax" refers to a tax which shall either be paid in future or has already been settled in advance. In this article, we will see why a company may differ its tax to a subsequent fiscal year or why a company may choose to pay the tax in advance.Most companies normally prepare an "income statement" and a "tax statement" every fiscal year because the guidelines that govern the recording of income and taxation are slightly different. It is this slight disparity between the guidelines that creates the scope for deferred tax.Types of Deferred TaxThere are two types ...
Read MoreWhat is Amortization?
Amortization vs. DepreciationBoth Amortization and Depreciation are concepts that are used to account for the consumption of assets and how they lose their value over their useful life.We understand that tangible assets such as plant machinery, furniture, buildings, and vehicles lose their value over a period, which is called "depreciation". But, what about intangible assets such as copyrights, trademarks, patents, agreements, etc.? Such intangible assets too lose their value over a course of their useful economic life.Amortization is a concept similar to depreciation, but it is applied primarily to intangible assets and their periodic reduction in value over time. The ...
Read MoreWhat is an Installment Sale?
As the name suggests, an "installment sale" is an approach where the seller allows the buyer to make payments in installments over a period of time. It is a Revenue Recognition method in which the seller defers the revenues until the payment is received.In an Installment Sale, the revenues and the expenses are recognized at the time when the actual cash flow occurs, rather than at the time of sale. Installment Sales are quite prevalent in real-estate deals.Note that, although the buyer gets the goods at the beginning of the installment period, the ownership is not fully transferred at the ...
Read MoreWhat is the Revenue Recognition Principle?
Most of the big companies do business on credit. They supply goods and services for which the payments are received at a later stage or over a period of time. Hence, it becomes important for companies to follow a standard process to recognize the revenue from such transactions and record them in their financial statements.There are multiple stages at which a company can recognize the revenues in its books.Revenue Recognition CriteriaAccording to the International Financial Reporting Standards, the following conditions must be satisfied to have a company recognize its revenues −There should be sufficient assurance that the payment will be ...
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