How You Doin'?
Review of <I>Industry Spotlight</I>, a customized annual publication that contains statistical information on more than 150 industries
In relation to gross profits, how does your compensation compare with that of others in your industry? It's a question the IRS asks when reviewing tax returns. Or try this question: Are your profit margins in line with similar businesses in your asset group? Or this: Is the average duration of your account receivable normal for your industry?
Few business owners can answer those questions, but the answers are available in Industry Spotlight (Schonfeld & Associates, $34.99, 800-205-0030, www.saibooks.com). The annual publication, customized for any one of more than 150 industries, contains statistical information derived from income statements and balance sheets of more than 95,000 tax returns, says Carol J. Greenhut, president of the Riverwoods, Illinois, publishing firm. "It's a reliable information source that can be used to do competitive research, perform self-audits or evaluate information on your tax returns before filing," she adds.
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