Hi, is there a difference between revenue and turnover? Also, what about earnings and income, when do we use them? As far as know all four terms mean the total returns of a business so I figure we use those terms depending on the context?
Hi spearhead,
Revenue is the amount of money coming in from sales/production.
Turnover is the extent to which/the amount you are producing.
Income is usually a salary that comes to you on a regular basis from a job/position.
Earnings means the amount of money coming in which can vary and is not regular - often associated with freelance work.
Alan
Hi Alan. Thank you for your explanation. So if I understand you correctly, then the turnover is the amount/value of a company’s production whearas revenue is the total amount of their sales? This means, that the turnover could be smaller than the revenue but not vice versa. Is that correct? Thank you in advance.
Hi spearhead,
Not necessarily. Revenue is income and turnover is production and so you could make or lose money.
Alan
Hi Alan, sorry to bother you again, but what about the retail sales industry. What does the term turnover mean there? They don’t have any production, do they?
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Retail turnover is the quantity of stock sold over an indicated period, expressed either in monetary value or number of units.
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Hi ALAN, i will like to know that how turn over can be defined for BPOs.