As can be seen from the definitions of both the terms, the key difference between an expense and an asset is timing. An asset represents any source of future economic benefit to the firm that goes beyond one...

The main difference between Revenue and Receipt is that Receipt is the cash received and is also known as cash inflow or 'Cash Receipt' meaning cash received by the entity, but it also includes...

Sales turnover is the amount of money that is earned by a company after selling its products/services. Profit of a company, the earnings of the company after all the costs has been deducted.

Turnover represents the value of goods and services provided to customers during a specified time period. Profit is basically the revenue minus the costs incurred.

Turnover refers to how many times a company burns through assets such as cash, inventory, workers, etc. However, revenue represents the money a company earns by selling its goods and services for a price to...