{"id":2711,"date":"2019-11-19T16:11:47","date_gmt":"2019-11-19T16:11:47","guid":{"rendered":"https:\/\/commerceiets.com\/?p=2711"},"modified":"2025-03-01T20:21:29","modified_gmt":"2025-03-01T20:21:29","slug":"difference-between-transaction-and-event","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/difference-between-transaction-and-event\/","title":{"rendered":"DIFFERENCE BETWEEN TRANSACTION AND EVENT"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_72 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/commerceiets.com\/difference-between-transaction-and-event\/#DIFFERENCE_BETWEEN_TRANSACTION_AND_EVENT\" title=\"DIFFERENCE BETWEEN TRANSACTION AND EVENT\">DIFFERENCE BETWEEN TRANSACTION AND EVENT<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/commerceiets.com\/difference-between-transaction-and-event\/#DIFFERENCE_BETWEEN_TRANSACTION_AND_EVENT-2\" title=\"DIFFERENCE BETWEEN TRANSACTION AND EVENT\">DIFFERENCE BETWEEN TRANSACTION AND EVENT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/commerceiets.com\/difference-between-transaction-and-event\/#CONCLUSION\" title=\"CONCLUSION\">CONCLUSION<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"DIFFERENCE_BETWEEN_TRANSACTION_AND_EVENT\"><\/span>DIFFERENCE BETWEEN TRANSACTION AND EVENT<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p>Before understanding the difference between transaction and event, one must clearly understand the two concepts.<\/p>\n\n\n\n<p class=\"has-text-align-center has-luminous-vivid-orange-background-color has-background has-large-font-size\"><strong>TRANSACTION<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/commerceiets.com\/transactions\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Transaction  (opens in a new tab)\">Transaction <\/a>refers to any exchange of goods and services on cash or credit basis by the business with the outside parties i.e. other business or customer. Transaction is an economic activity. It has an effect on the net worth or financial position of the business.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>FEATURES OF TRANSACTION<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">The following are the features of transaction:<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>ECONOMIC ACTIVITY<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Transaction is an economic activity. It includes the dealing\nsuch as purchase and sale of goods, lending or borrowing money etc. It does not\ninclude any kind of social activity such as inviting a friend to dinner or\ngiving money as gift on some occasion.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>IMPACT ON FINANCIAL POSITION<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Transaction has a great bearing on the financial position of\nthe firm. Each transaction may have little or great impact on the financial\nposition of the firm. It results in either inflow or outflow of cash and inflow\nor outflow of goods and services.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>MAY BE QUANTITATIVE OR QUALITATIVE<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Transaction may be quantitative or qualitative. Quantitative\ntransactions are those that involve the exchange of money. Example: purchase of\nfurniture worth Rs. 5,000 for cash.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">On the contrary, qualitative transactions are those that\ninvolve no exchange of money. Example: Depreciation or decrease in the value of\nthe asset.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>FINANCIAL CHANGE<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">Transaction brings financial change for the business or\nparties. Only that event is regarded as transaction that impacts the financial\nposition. Example: Death of a debtor turns the amount due from him\/her into bad\ndebt, which is a monetary loss, hence regarded as transaction.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">On the other hand, death of an inefficient employee leads to\nno monetary loss, hence not regarded as transaction.<\/p>\n\n\n\n<p class=\"has-text-align-center has-luminous-vivid-orange-background-color has-background has-large-font-size\"><strong>EVENT<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">An event may be described as anything that occurs as a\nresult of something. These are the occasions which cause changes in the value\ndue to time element. An event can be said as the final outcome of a business activity,\nwhich can affect the accounts of the company, if it is financial in nature.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>TYPES OF EVENTS<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">There are mainly two types of events:<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>INTERNAL EVENT: <\/strong>When the transaction takes place within the framework of the organization, the result would be an internal event. <strong>Example: <\/strong>Supplying raw material by stores to the manufacturing department, payment of wages, transfer of material from one department to another etc.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>EXTERNAL EVENT: <\/strong>When the business entity transacts with an external organization, the outcome would be an external event. <strong>Example:<\/strong> purchase of goods from supplier, sale of goods to the customer etc.<\/p>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"DIFFERENCE_BETWEEN_TRANSACTION_AND_EVENT-2\"><\/span>DIFFERENCE BETWEEN TRANSACTION AND EVENT<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>   BASIS OF DIFFERENCE   <\/strong><\/td><td><strong>   TRANSACTION   <\/strong><\/td><td><strong>   EVENT   <\/strong><\/td><\/tr><tr><td><strong>   MEANING   <\/strong><\/td><td>\n  Transaction refers to any exchange of goods and services on cash or\n  credit basis by the business with the outside parties i.e. other business or\n  customer.\n  <\/td><td>\n  An event may be described as anything that occurs as a result of\n  something. These are the occasions which cause changes in the value due to\n  time element.\n  <\/td><\/tr><tr><td><strong>   CAUSE OR EFFECT   <\/strong><\/td><td>\n  Transaction is a cause.\n  <\/td><td>\n  An event is an effect.\n  <\/td><\/tr><tr><td><strong>   ACCOUNTING RECORD   <\/strong><\/td><td>\n  All transactions are recorded in the records as they arise.\n  <\/td><td>\n  Only those events are recorded which are financial in nature.\n  <\/td><\/tr><tr><td><strong>   IMPACT ON FINANCIAL POSITION   <\/strong><\/td><td>\n  It results in change in the financial position of the company.\n  <\/td><td>\n  It may or may not impact the financial position of the company.\n  <\/td><\/tr><tr><td><strong>   NATURE OF CHANGES   <\/strong><\/td><td>\n  It involves quantitative as well as qualitative changes.\n  <\/td><td>\n  It involves only qualitative changes\n  <\/td><\/tr><tr><td><strong>   SCOPE   <\/strong><\/td><td>\n  It is wider in scope.\n  <\/td><td>\n  It is narrower in scope.\n  <\/td><\/tr><tr><td><strong>   TYPES   <\/strong><\/td><td>   These are of many types:<br \/>   Cash transaction<br \/>   Credit transaction<br \/>   External transaction<br \/>   Internal transaction<br \/>   Exchange transaction<br \/>   Non-exchange transaction   <\/td><td>   An event is of mainly two types only:<br \/>   Internal event<br \/>   External event   <\/td><\/tr><tr><td><strong>   PARTIES INVOLVED <\/strong><\/td><td>\n  It always involves more than one parties.\n  <\/td><td>\n  It involves only one party.\n  <\/td><\/tr><tr><td><strong>   NATURE OF ACTIVITY   <\/strong><\/td><td>\n  It is an economic activity.\n  <\/td><td>\n  It is a historical activity.\n  <\/td><\/tr><tr><td><strong>   FEATURE   <\/strong><\/td><td>\n  All transactions are events.\n  <\/td><td>\n  All events are not transactions.\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"CONCLUSION\"><\/span>CONCLUSION<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-medium-font-size\">To conclude the difference between transactions and events, it can rightly be said as all the transactions are events but all events are not transactions. The transaction results out of the business activity and event results out of the transaction.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting\/\"><strong>Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/non-profit-organisation\/\"><strong>Non profit organisation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/depreciation\/\"><strong>Depreciation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/liquidity-ratios-types\/\"><strong>Liquidity ratios<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/nature-of-accounting\/\"><strong>Nature of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/\"><strong>Receipts and Payments Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/depreciation-accounting\/\"><strong>Depreciation Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/acid-test-ratio-formula\/\"><strong>Acid Test Ratio<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/benefits-of-accounting\/\"><strong>Benefits of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/scope-of-accounting\/\"><strong>Scope of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/\"><strong>Hire Purchase Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/cash-ratio\/\"><strong>Cash Ratio<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-cost-accounting-and-financial-accounting\/\"><strong>Difference between cost accounting and financial accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-financial-accounting-management-accounting-and-cost-accounting\/\"><strong>Financial accounting, cost accounting and management accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-hire-purchase-and-instalment\/\"><strong>Difference between hire purchase and instalment system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/financial-ratio-analysis\/\"><strong>Financial ratio analysis<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-transaction-and-event\/\"><strong>Difference between transaction and event<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/transactions\/\"><strong>Transactions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/users-of-accounting\/\"><strong>Users of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/current-ratio-formula\/\"><strong>Ratio analysis<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/limitations-of-accounting-2\/\"><strong>Limitation of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/capital-expenditure\/\"><strong>Capital Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/instalment-system\/\"><strong>Instalment System<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-consignment-and-sale\/\"><strong>Difference between consignment and sale<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/book-keeping\/\"><strong>Book Keeping<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/revenue-expenditure\/\"><strong>Revenue Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/reserves-accounting\/\"><strong>Reserves Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-normal-and-abnormal-loss\/\"><strong>Abnormal loss vs normal loss in consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accountancy\/\"><strong>Accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-capital-expenditure-and-revenue-expenditure\/\"><strong>Difference between capital and revenue expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/reserves-accounting\/\"><strong>Provisions&nbsp;<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/treatment-of-loss-on-consignment\/\"><strong>Treatment of loss on consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Accounting as science or an art<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-equation\/\"><strong>Accounting Equation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/single-entry-system-in-accounting\/\"><strong>Single entry system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-treatment-of-consignment\/\"><strong>Accounting treatment of consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Book Keeping vs accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/deferred-revenue-expenditure\/\"><strong>Deferred Revenue Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/statement-of-affairs-and-balance-sheet-difference\/\"><strong>Difference between statement of affairs and balance sheet<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-joint-venture-and-consignment\/\"><strong>Joint venture vs consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Book keeping vs accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/capital-receipt\/\"><strong>Capital receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/ifrs\/\"><strong>IFRS<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/departmental-accounting\/\"><strong>Departmental Accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Accounting vs accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/revenue-receipt\/\"><strong>Revenue receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/balance-sheet\/\"><strong>Balance Sheet<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-departmental-accounting\/\"><strong>Methods of departmental accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/basis-of-accounting\/\"><strong>Basis of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-capital-and-revenue-receipt\/\"><strong>Difference between capital and revenue receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/profit-and-loss-account\/\"><strong>Profit and loss Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/allocation-of-expenses-in-departmental-accounting\/\"><strong>Allocation of expenses in departmental accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/branches-of-accounting\/\"><strong>Branches of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-accounting-concepts-and-conventions\/\"><strong>Difference between accounting concepts and conventions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/trading-account\/\"><strong>Trading Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/inter-departmental-transfers\/\"><strong>Inter-departmental transfers<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/cash-and-mercantile-system-of-accounting\/\"><strong>Cash and mercantile system of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-standards\/\"><strong>Accounting Standards<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/voyage-account\/\"><strong>Voyage Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/different-types-of-branches\/\"><strong>Different types of branches<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-principles\/\"><strong>Accounting Principles<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/objectives-of-accounting\/\"><strong>Objectives of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-for-incomplete-voyage\/\"><strong>Accounting for Incomplete Voyage<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-departmental-and-branch-accounting\/\"><strong>Departmental vs Branch accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/golden-rules-of-accounting\/\"><strong>Golden ru\nles of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/process-of-accounting\/\"><strong>Process of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/joint-venture\/\"><strong>Joint venture<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-branch-accounting\/\"><strong>Methods of branch accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/double-entry-system-of-accounting\/\"><strong>Double entry system of book keeping<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/scope-of-accounting\/\"><strong>Scope of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-joint-venture-and-partnership\/\"><strong>Joint Venture Vs Partnership<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/incorporation-of-branch-trial-balance\/\"><strong>Incorporation of branch trial balance<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-double-single-entry-system\/\"><strong>Double entry vs Single entry system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-accounting-concepts-and-conventions\/\"><strong>Accounting Concepts vs Accounting conventions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-recording-transactions-in-joint-venture\/\"><strong>Methods of recording transactions in Joint Venture<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/garner-vs-murray-rule\/\"><strong>Garner VS Murray Rule<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/history-of-accounting-pdf\/\"><strong>History of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-provisions-and-reserves\/\"><strong>Difference between provisions and reserves<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/consignment\/\"><strong>Consignment<\/strong><\/a><\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.linkedin.com\/in\/kajal-mahajan-7549b2197\/\" target=\"_blank\" rel=\"noreferrer noopener\">CONNECT ON LINKEDIN<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>DIFFERENCE BETWEEN TRANSACTION AND EVENT Before understanding the difference between transaction and event, one must clearly understand the two concepts. TRANSACTION Transaction refers to any exchange of goods and services on cash or credit basis by the business with the outside parties i.e. other business or customer. Transaction is an economic activity. It has an&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/commerceiets.com\/difference-between-transaction-and-event\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;DIFFERENCE BETWEEN TRANSACTION AND EVENT&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":2713,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,8,56],"tags":[186],"class_list":["post-2711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-accounting","category-11-accountancy","category-difference-between","tag-transactions"],"_links":{"self":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/2711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/comments?post=2711"}],"version-history":[{"count":1,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/2711\/revisions"}],"predecessor-version":[{"id":9269,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/2711\/revisions\/9269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media\/2713"}],"wp:attachment":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media?parent=2711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/categories?post=2711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/tags?post=2711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}