SIP typically presents in the first week of life with abdominal distension and discoloration, hypotension, and pneumoperitoneum. It involves an isolated perforation of the terminal ileum. In contrast, NEC usually presents after the first week with abdominal distension and erythema, crepitus, induration, and radiological findings like pneumatosis intestinalis. NEC involves ischemic necrosis of the intestinal mucosa and is associated with various systemic signs. Both require supportive care but NEC may additionally require surgical intervention for perforation or deterioration.