Follow live coverage of the San Bernardino shooting >>. Late Wednesday night, San Bernardino police Chief Jarrod Burguan identified the people killed in the gun battle with police as Syed Rizwan Farook, a 28-year-old American citizen, and 27-year-old Tashfeen Malik.
In accounting, revenue is the income that a business has from its normal business activities, usually from the sale of goods and services to customers. Revenue is also referred to as sales or turnover. Some companies receive revenue from interest, royalties, or other fees. Revenue may refer to business income in general, or it may refer to the amount, in a monetary unit, received during a period of time, as in Last year, Company X had revenue of $42 million.
According to Wikipedia and multiple web pages, revenue is the term used for money acquired by the sale of goods. This definition is also termed as turnover in the United Kingdom. Hence, there is no difference in the definition of these two terms. However, when we look at the business and accounting aspect of the two, there is actually a huge difference between turnover and revenue in accounting. Turnover refers to how many times a company burns through assets such as cash, inventory, workers, etc.