2 July 2021
Turnover (also referred to as revenue or sales) is simply the income that a company receives from its normal business activities, usually the sale of goods and or services.
In accounting terms revenue represents the “top line,” to denote how it is reported on an income statement (at the very top). The “bottom line,” denotes net profit (what is left from the revenues once all expenses are deducted).
Generally turnover might be understood as income received by an organisation in the form of cash or cash equivalents. However sales revenue can be described as income received from selling goods or services over a given period of time.
Total Turnover = Price of goods or services x Quantity sold
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