I just realized both Sales and Revenue are listed in the Schweser formula sheet. I had been using them interchangeably previously. This piqued my curiosity, so I Google Imaged the income statement - both revenue and sales are being used. So my question is:
Revenue = Sales ?
Revenue = Sales = Net Credit Sales = Sales on Credit - Sales Returns - Sales Allowances
Reference:
Schweser : Receivables Turnover:
Annual Sales / Average Receivables ; where annual sales = net credit sales = sales on credit - sales returns - sales allowances ???
Schweser : Common-Size Income Statement Ratios:
Income Statement Account / Sales (Sales --> Net Credit Sales??)
Schweser : Common-Size Cash Flow Ratios:
Cash Flow Statement Account / Revenues
TL;DR: What the heck is “Annual Sales” vs “Sales” vs “Revenues”. Poor wording or is it context dependent?
Thank you!