Yes, there is.
Colds and flu share some of the same symptoms such as sneezing, coughing or/and sore throat. but their treatment is different..
Common cold can be caused by more than 200 viruses, Symptoms develop over one or two days and gradually get better after a few days. Some colds can last for up to two weeks. (mild fever, runny nose, tiredness and headaches)
Flu is caused by either influenza A or B viruses, usually comes on much more quickly than a cold and it can be more serious than the common cold, and the symptoms are ( sudden high fever, dry cough, feeling of exhaustion and muscle ache)
although sometimes cold can be sever and prevent you from doing your work, it doesn't need any medication as it goes by itself after a week or two.
unlike flu, it needs medication, because sometimes it can be serious and cause serious health problems - if left untreated.
interesting fact: Antibiotics can't cure viruses such as flu or cold, it only works on bacteria.. most people take antibiotics when they are having cold or flu, and wonder why they aren't feeling any better!! well, here's the answer :)
hope that answered your question
have a good day!