MANAGEMENT

Detailed explanation-1: -Put simply, turnover is the total amount of money your business receives from the sale of goods and services – minus discounts and VAT. Turnover is calculated over a specific period of time, usually a quarter or financial year.

Detailed explanation-2: -What is the definition of turnover? Also known as income or gross revenue, turnover is the total amount of sales you make over a set period. This could be weekly, monthly, quarterly or annual turnover-whatever time period you choose to measure.

Detailed explanation-3: -Turnover is a concept in accounting that shows how quickly a company runs its business. The most common ways to measure a company’s turnover are the accounts receivable and inventory ratios. In investing, turnover is how much of a portfolio is sold in a given month or year.

Detailed explanation-4: -Turnover time is defined as the ratio of the quantity of a material or energy in a system to its outflow rate. It may also be viewed as the inverse of the fraction of material or energy that leaves per unit time.

Detailed explanation-5: -Is turnover the same as revenue? No, but they do often correlate. For example, businesses can earn more revenue by turning over their inventory frequently. In essence, turnover affects the efficiency of companies while revenue affects profitability.