What do you mean by the term turnover
What do you mean by the term turnover?
Expert
The term "Turnover" has numerous meanings.
For a trader or manufacturer or service provider it means net sales (i.e., cash + credit).
While whenever a bank gives a loan to any person or company they observe the turnover.
Here the turnover usually refers to the net credits in any specified period in account holder’s account.
Whereas banks own turnover is the net loans disbursed + outstanding recovery of former period - bad debts (that is, loans written off) in this period.
Considering disclosure norms in the Accounting Standards the announcement of turnover is needed. I am not sure for which industries this is mandatory and for which industries this is not.
However it is nonetheless announced.
Balance sheet of some company can be simply window dressed. Therefore to understand whether whatever gains are illustrated are actually from turnover or not the announcement of turnover becomes essential.
In case when a person or investor finds out that the turnover of some company is not high however the company is saying that they encompass big gains then he can explore in details as to how the company is making its currency.
In case when the investor finds out that the company is selling the goods to a vast quantity although not making much gain then he can examine the books of accounts to find out what are the reasons of low profitability.
Define the term Kiting in Accounting stream?
Journalize the below transactions, prepare relevant ledger accounts and finally trial balance. . XYZ Pvt Ltd 01.01.2009 Started business
Describe the term Operating Expenses in business accountancy?
What is Social Darwinism and how it was utilized to support business?
company A began operation on january 1,2012. The annual reporting period ends December 31.The trial balance on January 1,2013 was as follows
Providing reasons, describe the treatment assigned to the following which estimates national income.(i) Family members working freely on farm owned by family.(ii) The Payment of interest on borrowings through general government.
What are the advance methods which are used in banks presently?
Asset Purchase: Agreement between seller and buyer to obtain an organization's assets. In an asset purchase, only particular assets transfer ownership from seller to the buyer. Assets should be re-titled to the latest owner who has the capability to d
Write down the chief categories under which budgets are divided?
Midterm Project The Midterm Project has two parts. First, using the fact pattern below, develop a list of five to eight goals for the law firm. A goal
18,76,764
1921945 Asked
3,689
Active Tutors
1435486
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!