Debt is every similar to liabilities. Both refer to obligations in which money needs to be paid back. In most instances, debt includes all liabilities, especially when calculating debt-to-equity ratio. However...

An asset is anything that can be utilized to make more money. A liability is an obligation on which money has to be paid. In terms of banking, an asset is anything on which one earns an interest, whereas a...

The terms Fiscal Year and Financial Year are synonymous, i.e. meaning the same thing. They are a period that governments use for accounting and budget purposes. However, they are also the duration on which tax...

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.