20250607090102-Turnover_or_Revenue

Turnover or Revenue

From bib. source

This is the invoiced value of all the goods and services provided […] to […] external costumers. It is calculated after deducting any sales discounts and value added tax (VAT).

Turnover means the same thing as revenue. Turnover or revenue, which is the total value of commodities or services that have been provided to consumers, should take into account sales discounts and value added taxes (VATs) (i.e., should have them subtracted if they haven’t been already) (Kind 1999, 33).

What is a value-added tax?

A value added tax is a tax levied on the value added to a commodity at each stage of production before reaching the consumer. A tax is a payment obligation to a government institution in order to operate under its jurisdiction or interact with its sovereign territory.

value_added_tax VAT sales_discount discount revenue finance accounting mathematics mathematical_operator mathematical_operators binary_operators binary_operator subtraction_operator subtraction_operators sum addition addition_operator addition_operators profit_and_loss_account profit_and_loss_statement

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bibliography

• “The Profit and Loss Account in More Detail.” In Accounting and Finance for Managers, 25–37. The Fast Track MBA Series. Dover, NH: PriceWaterhouseCoopers, 1999.