Definitions
- Referring to the total amount of money a company earns from sales or services. - Talking about the rate at which employees leave a company and are replaced by new ones. - Describing the process of selling and replacing inventory in a business.
- Referring to the total amount of money a company earns from sales or services. - Talking about the income generated by a particular source, such as advertising or investments. - Describing the money earned by a government through taxes or other sources.
List of Similarities
- 1Both refer to the amount of money earned by a company or organization.
- 2Both can be used to measure financial success.
- 3Both are important metrics for businesses to track.
- 4Both can be used to compare performance over time or between companies.
- 5Both are typically reported on financial statements.
What is the difference?
- 1Scope: Turnover refers to the total amount of money earned from sales or services, while revenue can also include income from other sources.
- 2Usage: Turnover is more commonly used in British English, while revenue is more common in American English.
- 3Focus: Turnover emphasizes the volume of sales or services, while revenue emphasizes the income generated.
- 4Calculation: Turnover is calculated by multiplying the number of units sold by their price, while revenue is calculated by subtracting the cost of goods sold from the total income.
- 5Context: Turnover is often used in the context of employee turnover, while revenue is not.
Remember this!
Turnover and revenue are both financial terms used to describe the amount of money earned by a company or organization. However, turnover refers specifically to the total amount of money earned from sales or services, while revenue can include income from other sources. Additionally, turnover is more commonly used in British English and can also refer to employee turnover, while revenue is more common in American English and emphasizes the income generated.
