The major differences between the trial balance and balance sheet are as follows −Trail balanceBalance sheetOpening stock is considered.Debit and credit.Doesn’t take part in financial statement.Contains nominal, real and personal accounts.Internal useCan be prepared monthly, quarterly, half-yearly and financial period.Prepared in column format.Audit is not necessary.Information of loss or profit is not provided.Not necessary to prepared by law.Prepared before adjustments.Can’t tell true financial position of the firm.General ledger is the source.No thumb rule.Closing stock is considered.Assets and liabilities.Will take part in financial statement.Contains real and personal accounts.External use.Prepared in financial period.Prepared in T-Format.Audit is necessary.Information on loss/profit is provided.Prepared by ... Read More

Both spear phishing and whaling are types of cyberattacks. Spear phishing is a type of phishing attack in which scammers install malware on the targeted user’s system in addition to stealing data for fraudulent objectives, whereas whaling is a cyberattack on high profile persons such as CEOs, CFOs, celebrities, politicians, etc. Whaling is a relatively highrisk strategy as compared to spear phishing. Read through this article to find out more about spear phishing and whaling and how they are different from each other. What is Spear Phishing? Spear Phishing is a type of email phishing attack where a personalized email ... Read More

In today’s rapidly changing business world, it is critical for business leaders to have the right insight and data to make the right calls at the right time. Finding the right blend of what, why and how to use this enormous amount of data is something that needs attention in present day competitive business environment.Business strategies and operational decisions are being undertaken based on the analysis provided by past operational data. Hence it is tremendously important for global business entities to equip themselves with the emerging technologies like business analytics software for better decision making and forecasting.Business Decisions + Analytics ... Read More

What would a consumer expect from a product or a service that he had paid for — Quality, Value for Money, and most important of all Satisfaction. Right? But, in today’s cut-throat market, a consumer also expects good, if not excellent, customer service, post the purchase of a product. The quality of service that you get from a manufacturer or a service provider determines whether you would stay loyal to that brand or switch over to something else. In other words, it is the quality of service that determines whether a manufacturer or a service provider can hold on to ... Read More

Change Management is an approach to transitioning organizations, teams and individuals from their current state to a new desired state for the future. The purpose of Change Management is to establish standardized procedures for the handling of IT-related change requests and facilitates the assessment, scheduling, coordination, documentation and evaluation of all changes.A Change can be initiated both from within the organization and from external forces. Externally, competition may drive an organization to change a product. Internally, a problem may be identified and change management is seen as the process by which a solution can be implemented with the organization.Change Management ... Read More

It is very common for IT professionals coming into Catch-22 situation, especially while choosing one among the most famous project management certifications – the PMP or PRINCE2. The question – then, the next question arises – Which certification will help me to get the desired success in my career? and Which one helps me to increase my knowledge base in terms of project management? Will PMP or PRINCE2 certification help me in managing my projects?There are many such questions which come to your mind, isn’t it? Don’t worry! We will help you to solve this biggest dilemma.You can choose the ... Read More

Start-ups are promising, innovative and conducive to the ever expanding business environment. According to NASSCOM, India is gaining the third spot globally with the fastest growing base of start-ups. The growth rate has been almost 40% with more than 4000 being added every year since the beginnings in late 2014. Worldwide, US leads the way in the start-up ecosystem followed by Indonesia, UK, Germany, Brazil, Spain, Canada, and France.While all start-ups require financial support to flourish, they also need a technology stack to build their applications for the user/customer. The technology stack is simply the software tools/programming languages used for ... Read More

Isn’t it difficult to tackle certain situations when one wrong step can change the entire consequences? Yes, some situations make us dumbfound, and paralyze our decision-making capabilities whether that has a positive or negative impact on our project’s life. So, don’t you think that it is better to have some tools and techniques to deal with such threats and opportunities?Irrespective of the project’s duration and intricacy, risks are always there and in the case of long-term complex projects, the level of risks increases manifolds. So, to minimize the negative impact on our projects, we should have a concrete plan with ... Read More

Last week, while discussing with my colleagues on various topics, the discussions took an unexpected turn and reached to one of the trending topic called ‘Employee Attrition’. Frankly saying it was not unexpected, actually for the last couple of months we have been seeing many ‘good-bye’ or ‘keep in touch’ kind of parting emails almost twice or thrice in a week. Everybody is discussing on it, whether it is during lunch time or coffee breaks, the gossip and rumors are in the air!These type of discussions are not only restricted to one company. Actually, you can see such trends in ... Read More

Do you like to be at the center stage when the management showers the praises and appreciates with thundering applause? Of course, those are the golden moments that everyone is dreaming about. But, is it easy to be a champion without adequate knowledge and skills? No, not at all. You should have all the required skills to excel.And when we talk about a role like Scrum Master, which is widely misunderstood and misinterpreted in many organizations, how come, a person effectively play the role and it’s responsibilities and becomes a champion scrum master, isn’t it challenging?Let’s discuss how you can ... Read More