TURNOVER Meaning and
Definition
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Turnover is a term that can have multiple meanings depending on the context in which it is used. In a general business sense, turnover refers to the total value or amount of goods or services that are sold or provided by a company during a given time period.
In accounting, turnover is often used to assess the efficiency of inventory management by measuring how quickly a company sells its inventory and replaces it with new stock. This is determined by dividing the cost of goods sold by the average inventory value, and it provides insight into the company's ability to generate sales. A high turnover ratio indicates that a company is effectively managing its inventory, while a low ratio may suggest sluggish sales or inefficient inventory management.
In the context of human resources, turnover is often used to describe the rate at which employees leave a company or are replaced over a specific time period. It is typically expressed as a percentage and is calculated by dividing the number of employees who have left or been replaced by the average number of employees during the same time frame. High turnover rates may indicate issues with employee satisfaction, workplace culture, or management practices.
Furthermore, in sports, turnover refers to the loss or surrender of possession of the ball by a team to the opposing team, which typically occurs as a result of an interception, fumble, or turnover on downs.
Overall, turnover is a versatile term with various implications dependent on the context, encompassing the value of sales, inventory efficiency, employee attrition, and sports possession loss.
Top Common Misspellings for TURNOVER *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for TURNOVER
Etymology of TURNOVER
The word "turnover" has multiple etymological origins depending on its context and usage. Here are a few:
1. In the culinary sense, "turnover" refers to a pastry filled with various ingredients and folded over to create a pocket. Its etymology comes from Middle English "turne ouer", which referred to a dish that was turned over during cooking to brown both sides evenly.
2. In business and finance, "turnover" refers to the total revenue generated by a company in a given period. The term originated from early bookkeeping practices where accountants would "turn over" the pages of their financial ledgers to calculate the total sales or income.
3. In sports, particularly American football, "turnover" refers to the loss of possession of the ball to the opposing team.
Similar spelling words for TURNOVER
- tranfer,
- assist-to-turnover,
- turn off,
- turnverein,
- turnoff,
- durnovaria,
- trainferry,
- train fare,
- turnbow,
- turn over,
- turn over,
- darunavir.
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