Whats difference between sales, revenue and turnover?
As your project grows, you will find that the definition of these terms needs a little review. In short: On a Profit and Loss statement they are three names for the same. But as sources of income there are accounting differences. Why do you need to know this? Good example is when we calculate the feasibility of a shopping facility. Before deciding on the target size of the leased area you should have a fair idea of the kind of income you will expect. And since rents can be measured as an agreed rate of either sales or turnover, it doesn’t hurt to know which is what really. Revenue includes income from rent and other revenues. So as a developer of a shopping facility your income will be what you collect from rents. It is your total taxable income before costs. In other words it is your total yield from a property. Turnover is the gross sales including discounts plus taxes on goods sold, in this case by the tenants of your shopping centre. And finally sales is the income from selling goo
