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...

Cash sales refers to sales made by cash; here the customer goes to the store, orders, picks up and pays for the goods immediately. In a customer places an order and then the customer picks up the goods or the...

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.

Sales turnover and sales is quite similar in nature. Sales are the revenue that is earned by a company via sale of its product. Similarly, sales turnover is the amount of money that is earned by a company...

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.