Take an inside look at your competitors

Jan. 1, 2020
Every year, you submit detailed information about your business to your big brother at the IRS — salaries, benefits, profits, expenses and payment terms.

Every year, you submit detailed information about your business to your big brother at the IRS — salaries, benefits, profits, expenses and payment terms.

Schonfeld & Associates, a business research company, is taking your information, along with that of your competitors, to create an in-depth report with information gleaned from over 95,000 corporate tax returns. The report, entitled "Industry Spotlight," uses IRS codes to break down businesses into industry groups, and then further divides each group into 11 different size classes. To pinpoint the comparisons, each item of information is provided separately for profitable and unprofitable firms.

"Industry Spotlight" contains selected items from the income statement and balance sheet data of corporate tax returns. Balance sheet items include: total assets, cash, accounts receivable, inventory and accounts payable. Income statement values include: receipts, cost of goods sold, salaries and wages, employee benefit expense, officer compensation, bad debts, rent expense and interest expense, as well as net income.

A company statement says the report provides users with clear benchmarks of financial performance, such as: inventory to sales turnover, inventory to costs turnover, gross margin, net margin, days accounts receivable outstanding, days payable, days working capital, days inventory, effective tax rate and tax credit use. Plus, definitions and guides for calculating and interpreting the ratios are provided.

Within each of the 11 size classes, a complete set of information is shown for both profitable companies and companies reporting losses. Two pages are presented for each of the different size classes so that you can see the information for the typical profitable firm as well as that for the firm with a loss.

According to the company, the report is a comprehensive and authoritative source of corporate financial information. "As a reliable information source, the reports can be used in many ways — from gathering competitive intelligence to performing self-audits," says the press statement.

The report, which is customized for any one of over 250 industries, could help answer questions you have about your business:

  • Am I turning my inventory as fast as the competition?
  • Are profit margins in line with similar-sized businesses?
  • Is the average age of accounts receivables normal for the industry?

A free sample copy of "Industry Spotlight" for all U.S. industries combined is available at www.saibooks.com/is.html. Industry-specific reports are available in electronic PDF format for any one of over 250 industries for $34.99. Aftermarket specific reports include motor vehicle and motor vehicle parts and supplies wholesalers, motor vehicles and parts, and auto service and repair.

For more information, contact Schonfeld & Associates, Inc. at (800) 205-0030 or e-mail [email protected]