commencement vs graduation

commencement and graduation both are nouns.

Word	Noun	Adjective	Verb	Adverb
commencement	Yes	No	No	No
graduation	Yes	No	No	No

As nouns, commencement and graduation are synonyms defined as:

commencement and graduation: an academic exercise in which diplomas are conferred

Other synonyms of commencement include commencement ceremony, commencement exercise, graduation exercise.

commencement (noun)	graduation (noun)
the act of starting something	the act of arranging in grades
an academic exercise in which diplomas are conferred	the successful completion of a program of study
the time at which something is supposed to begin	a line (as on a vessel or ruler) that marks a measurement
	an academic exercise in which diplomas are conferred