Concepts




Turnover


Turnover is deemed to comprise sales profits from the actual activity of a party with a legal obligation to keep books, after deduction of granted subsidies, value added tax and other taxes based directly on sales volume.

In addition to the sales adjustment items, income transfer and passage through items are deducted from sales. These are items belonging to another party with a legal obligation to keep books, which only technically go through the books of this other party obliged to keep books. Paid sales freight, commissions and credit losses are not deducted from turnover. The items included in turnover vary by industry. Turnover does, however, always include profits from current assets.

A construction developer's turnover is partially recorded twice, as turnover is deemed to include both the selling of buildings to housing companies and the selling of housing company shares to final buyers.



Topic

Validity of the definition

  • Valid until (31 December 2078)

Source organisation

  • Tilastokeskus

Credit institutions' and investment firms' turnover include the following items: Interest income + Leasing income + Income from equity investments + Commissions and fees + Net income or net losses from securities and foreign exchange transactions + Other operational income.

Also included after transition to IAS/IFRS-compliant reporting on 1 January 2005 are: Net income from available-for-sale financial assets + Net income from hedge accounting + Net income from investment property.



Validity of the definition

  • Valid until (31 December 2078)

Source organisation

  • Tilastokeskus

Turnover refers to the information concerning sales obtained from the Tax Administration's self-assessed tax data (total data) and from Statistics Finland's sales inquiry conducted among the 2,000 largest enterprises within their respective industries. In the self-assessed tax data, turnover may also include profit and loss statement items external to turnover, such as sales of fixed assets, other income, extraordinary items, purchases inversely liable to tax, own use of products and agency sales. The largest items deviating in profit and loss account from turnover are adjusted in the calculation. The concept of turnover in Statistics Finland's sales inquiry is fairly close to the concept of turnover in the profit and loss statement. Turnover comprises both domestic and export turnover. Turnover is exclusive of value-added tax.



Validity of the definition

  • Valid until (31 December 2078)

Source organisation

  • Tilastokeskus

Turnover is as reported in the financial statement.

Turnover from trade purchase and sale activities comprises sales of goods bought in the enterprise's own name and on its own account and of those resold to trade enterprises as such or packed and marked in a typical manner:
- retail trade (resale to households or to units consuming small quantities)
- wholesale trade (resale to other retailers or professional users).



Validity of the definition

  • Valid until (31 December 2078)

Source organisation

  • Tilastokeskus

None



Statistics using the definition

Validity of the definition

  • Valid until (31 December 2078)

Source organisation

  • Tilastokeskus

Turnover is recorded in the Business Register according to profit and loss statement, except in the cane of practitioners of a trade for whom it is formed from proceeds from the trade. Data on turnover are not recorded for enterprises in certain industries. The most important of these is financial intermediation and insurance and pension funding activity.

Turnover is deemed to comprise sales profits from the actual activity of a party with a legal obligation to keep books, after deduction of granted discounts, value added tax and other taxes based direct on sales volume. In addition to the sales adjustment items, income transfer and passage through items are deducted from sales. These are items belonging to another party with a legal obligation to keep books, which only technically go through the books of this other party obliged to keep books. Paid sales freight, commissions and credit losses are not deducted from turnover.

If the length of the accounting period deviates from 12 months, turnover is converted in the Business Register statistics to equal 12 months. As of the statistical year 2001, the turnover for a statistical year in the Register of Enterprises and Establishment concerns the accounting period that ends during the statistical year under review. Prior to this, turnover concerned the accounting period that ended between 1 April of statistical year and 31 March of statistical year +1.



Statistics using the definition

Topic

Validity of the definition

  • Valid until (31 December 2078)

Source organisation

  • Tilastokeskus

Jaa