Difference between Alpha and Beta Testing

can any one plz explain me in detail the differnces between alpha testing and beta testing

[B]Alpha testing[/B] is an operational testing done by potential users/customers or an independent test team at the developers' site. Alpha testing is often employed for off-the-shelf software as a form of internal acceptance testing, before the software goes to beta testing.

[B]Beta testing[/B] comes after alpha testing. Versions of the software, known as beta versions, are released to a limited audience outside of the company. The software is released to groups of people so that further testing can ensure the product has few faults or bugs. Sometimes, beta versions are made available to the open public to increase the feedback field to a maximal number of future user.

Both Alpha and Beta Testing are done as a part of the User Acceptance Testing.

Alpha Testing is done after 80% of bugs are fixed. It is needed in order to check whether we can meet the deadlines within the time or not.

Beta Testing is done after 95% of code is finished.Just to check the application whether we can freeze the code or not.