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Profit and turnover

What is the difference between profit and turnover?


Gomathi Vallinayaki

Gomathi Vallinayaki

CA Inter

26K+

03-Aug-20 12:14

33

Answers (1)

Turnover is your total business income during a set period of time â?? in other words, the net sales figure. Profit, on the other hand, refers to your earnings that are left after any expenses have been deducted. Both profit and turnover in business measure earnings. But turnover measures them before taking out major costs. Profit is residual earnings after costs. You can also view it as the money your business gets to keep after reducing the net sales figures by all expenses.


Madhuri Veluri

Madhuri Veluri

Moderator

03-Aug-20 14:06

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