Power supply question

a follow on question to this.

i have noticed the corsair hx/tx 650w is like 54A where as my PSU is 700W but 46A, my understanding is that Watts = Voltage * Amps. the corsair then is 648W, my PSU is 550W so where does the 700W that my PSU is 'rated' at come from and what if anything am i not understanding, how does this make a difference?
 
a follow on question to this.

i have noticed the corsair hx/tx 650w is like 54A where as my PSU is 700W but 46A, my understanding is that Watts = Voltage * Amps. the corsair then is 648W, my PSU is 550W so where does the 700W that my PSU is 'rated' at come from and what if anything am i not understanding, how does this make a difference?

You're understanding is correct about watts (power) = V*A

It's just the companies choosing to rate it differently. So pay attention more to the amps on the 12V rail than the wattage rating.

'cheap' PSUs tend to state a higher wattage, e.g.
http://www.overclockers.co.uk/showproduct.php?prodid=CA-059-OP&groupid=701&catid=123&subcat=1709
is only rated at 44A => 528W
 
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