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Is turnover the same as profit?
No !! Turnover is the amount of money that is used for the business to trade, profit is the amount of money that is left after the costs of the business have been subtracted from the income from the business. turnover in general sense means the total revenue derieved by an enterprise from its primary business . however different rules and provisions of various laws and acts define turnover differently . There cannot be any stable definition for turnover .
Is annual turnover the income of sales for a company?
Annual turnover is annual sales revenue. The money which is generated from selling a product or service. This must not be confused with annual income because income is associated with profits and with income tax while turnover is not! Turnover is the language used by businessmen when asked what their sales figures are for the month or year. It is also used as a management tool to manage and compare the performance of a business with previous years and also with market competitors. If the turnover is high, it does not mean the income is high, because turnover is simply the starting point before profits are calculated and before gross and net income can be ascertained.
What is the definition of Turnover as per Income tax Act?
Turnover is not defined in Income Tax Act.Correct me if i am wrong.
Is a business in the home considered mutual income?
yes
What are the advantage of labour turnover?
There are no advantages of labour / staff turnover. Staff turnover is the decrease in the amount of employees you have in your business. Presence of staff turnover indicates employees are leaving your business for some reason. There are no advantages of labour / staff turnover.
What is the average income of a SME business owner with Turnover 1m?
The average income of a small and medium-sized enterprise (SME) business owner with a turnover of around £1 million can vary widely depending on the industry, location, and specific business circumstances. Generally, business owners might take home a salary ranging from £50,000 to £100,000, but this can be influenced by factors such as operating costs, profit margins, and reinvestment in the business. Additionally, some owners may choose to draw less in salary to prioritize business growth.
What is turnover in business?
Annual revenue.
What is the business turnover of MYK Laticrete?
what is the turnover of myk laticrete in india for 2012-13
What is business turnover How is it calculated?
Business turnover refers to the total revenue generated by a company from its sales of goods or services over a specific period, typically a year. It is calculated by summing all sales income before any deductions for expenses, taxes, or costs. Turnover can provide insights into a company's operational efficiency and market demand. It is often used interchangeably with terms like revenue or sales.
Is investment income considered self-employment?
No investment income is not self-employed income unless you are in the business of investing or advising others on investing.
What is the difference between sales and sales turnover?
According to experts the difference between sales and turnover is sales refers to the income received from goods and services sold by a business whereas turnover is the income received when businesses trade goods and services.
What is asset turnover?
Asset Turnover is a financial ratio that measures the efficiency of a company's use of its assets in generating revenue or income for the company. A higher asset turnover ratio implies that the company is operating efficiently and is able to generate solid revenue income using the assets at their disposal.Formula:Asset Turnover = Sales / Average Total Assets
