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31st Edition of IRS Corporate Financial Ratios Reports U.S. Corporate Performance

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Libertyville, IL, April 12, 2016 — /EPR ACCOUNTING NEWS/ — Schonfeld & Associates offers a valuable addition to business reference resources in IRS Corporate Financial Ratios, a unique reference with saibooksinformation gleaned from over 95 thousand corporate tax returns. As a reliable information source, it can be used in many ways from gathering competitive intelligence to evaluating tax returns before filing. It is an ideal reference for CPAs, controllers, bankers, CFOs, tax lawyers, financial analysts, investment advisors and corporate planners.

The newly available 31st edition of the report contains just released information from corporate tax returns filed for the 2013 fiscal year. Of all U.S. corporations, the greatest number, 15% of the total, fell into the Professional Services sector. Within that sector, over 65% of the firms were profitable. Over all sectors, over 60% were profitable. All sectors except for real estate and holding companies had a majority of profitable firms.

One major accounting firm has used IRS Corporate Financial Ratios to develop a report to accompany delivery of the corporate tax return, which both enhances service to existing clients and can serve as the basis for additional assignments. Even the IRS, as well as some state agencies, uses it for tax and compensation audits. It may also be used in forensic accounting such as for estimating damage claims in lawsuits.

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IRS Corporate Financial Ratios is a statistical reference containing 76 key financial ratios for companies in each of over 250 NAICS industries. Based on actual tax records of the Internal Revenue Service, it is a comprehensive and authoritative source of corporate tax information and financial ratios. It is an essential book for anyone who wants to analyze tax returns in a serious way, do competitive research or perform self-audits.

IRS Corporate Financial Ratios provides clear benchmarks of financial performance. Included are: Turnover Ratios, such as inventory sales turns and inventory cost turns, Expense Percentages, Employment Percentages, such as officer compensation to PBIT, Profitability Percentages, such as gross, operating and net margin, Liquidity Ratios, such as days receivable and days payable and many more financial measures of performance.

For each industry, ratios are shown for the overall industry and for companies in four asset size classes. Within each size class, a complete set of 76 ratios is shown for both profitable companies and companies with losses. The format of the book allows comparisons so that ratios which distinguish profitable firms are immediately visible, a real aid to improving financial management.

IRS Corporate Financial Ratios is useful in developing budgets and financial plans. Besides being available in printed or PDF format, users can purchase an Excel template, IRS-CALC, with all the report data included. For any firm, tax return information can be entered, ratios calculated automatically and compared to industry norms and printed in reports.

IRS Corporate Financial Ratios includes an extensive introduction containing definitions with an explanation of how to calculate and interpret each financial ratio. A complete industry index is provided.

IRS Corporate Financial Ratios is published annually by Schonfeld & Associates based on the most current corporate tax return information available from the U.S. Internal Revenue Service. It is a unique, useful reference that belongs on the bookshelf or in the computer of every financial manager. The current 31st edition is available for $225 directly from Schonfeld & Associates, Inc., 1931 Lynn Circle, Libertyville, IL 60048. IRS-CALC, the Excel spreadsheet template, is available for an additional $100. Call for more information or to place an order at 800-205-0030. Visit the Corporate Financial Ratios area of expertise on the corporate web site where a secure order can be placed for immediate download or hard copy delivery.

Contact-Details:
Carol Greenhut,
cgreenhut@saibooks.com,
800-205-0030

 

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FullSpeed Provides Spreadsheet-like Macros in Cloud-based Accounting Apps: QuickBooks Online, Xero, and Others

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Madison, Missouri, September 26, 2014 , Most people who have used word processing software know what a macro is: a group of commands you can put together quickly to do a repetitive job, like adding blank spaces at the beginnings of several lines, or changing underlined words to italics on an entire page. Wouldn’t it be great if someday macros could apply calculations to multiple lines of data in applications like QuickBooks Online, Xero, or other cloud-based accounting software?

That day is here! FullSpeed lets you set up simple formulas in its own internal spreadsheet and applies them to data in other programs at the press of hotkey. In fact you can have multiple macros defined, each with its own unique hotkey.

What kinds of things can FullSpeed do? …calculations involving multiple columns of an invoice, column subtotals and totals, calculate discounts or freight surcharges or special taxes, autonumber lines, provide customized messages like “A discount of $123.45 is available if paid by October 15, 2014”, and a lot more. FullSpeed supports a wide range of Excel-compatible spreadsheet features such as numeric and statistical functions, IF logic, date/time functions, text manipulation, and plenty of ways to format results: currency, numeric, date/time, etc.; even the ability to display decimal amounts as fractions.

FullSpeed works in invoices, estimates, purchase orders, sales orders, bills, checks, sales receipts, grids, etc.–almost anywhere you can enter accounting data. It is compatible with any Windows-based Web browser which supports Microsoft’s UI Automation technology, such as Google Chrome, Mozilla Firefox, or Microsoft Internet Explorer. FullSpeed is not limited to browser-based apps though: it also works in some native Windows applications like QuickBooks desktop editions. (Though FullSpeed can work with a variety of application types, it has mostly been certified to work with accounting applications in this first release of the product.)

Many cloud-based accounting applications have limited space available for data or calculated results. For example, neither QuickBooks Online nor Xero currently supports custom fields in the line items area of invoices. But FullSpeed overcomes this problem in two ways:

(1) It supports storing data in the Description field of sale or purchase items, and can extract it to use in calculations. For instance, users can store a per-unit shipping weight in each item’s Description, and FullSpeed can use it to calculate the total shipping weight for an invoice.

(2) FullSpeed’s Scratchpad feature allows macros to temporarily store results of intermediate calculations, so they don’t have to be written to the target application where no space may be available to hold them.

Maybe the most unique feature of FullSpeed is that it works directly on data in the target application. Users get to see the results of calculations immediately while working in an invoice, purchase order, or other form. There’s no need to export the form’s data to do calculations in Microsoft Excel or some other program, and no need to re-import or Copy and Paste results that were calculated elsewhere.

FullSpeed is priced at $119 for a single-user license, less for multi-user licensing. FullSpeed is compatible with Microsoft Windows XP (SP3) and all later versions including Windows 7 and Windows 8.

A downloadable 30-day free trial and step-by-step examplesare are available from FullSpeed’s main Web page: http://www.goflagship.com/products/fullspeed.htm

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Contact Details:

Mark Wilsdorf
Flagship Technologies, Inc.
14976 Monroe Road 1039
Madison, MO, USA

info@goflagship.com
660-291-3000

FullSpeed home page: http://www.goflagship.com/products/fullspeed.htm

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Wisteria Formations Releases New Complete Company Formation Guide

Wisteria formations, the UK’s leading online company formation agent, confirms the release of their complete company formations guide. Following an increasing number of enquiries from clients, Wisteria Formations can announce the release of the complete company formations guide. Wisteria Formations is one of the UK’s leading company formation agents. The company is backed by Wisteria Chartered Accountants, the accounting, tax and business plan specialists. They have been able to draw on all of this knowledge to produce a complete guide to incorporating a company in the UK, available for free download on their website, www.wisteriaformations.co.uk.

Andrew Millet, Director of Wisteria Formations and Wisteria Chartered Accountants, explains what prompted the release of the guide, “We often receive enquiries from clients regarding what they need to think about when setting up a company, as well as more specific queries. There is a lot of information available on the internet, but it was not easy for clients starting out for the first time to know where to look for it. In addition, you can’t always get all of the information you need in one place. The aim when producing our new company formation guide was to help our clients understand the process of forming their company and the things they need to think about. We have ensured it is easily found by placing a PDF version of it on our homepage in an accessible format.”

The company formations guide is designed to help people in a wide range of situations, from complete beginners to those who may have incorporated a number of companies before. It deals with issues arising at the conception of the business such as which business structure to use and takes you through the formation process step by step dealing with the issues you need to consider after formation. The majority of the guide is about how to go about forming a limited company and responsibilities you take on by doing so. This is useful for many new company formations as often people start a limited company without being fully aware of the responsibilities that they will take on as a director of a company.

Other information on the internet comes from many different sources and you will often find conflicting advice which can easily lead to a misunderstanding. The complete company formation guide aims to rectify this problem by taking people step by step through everything you need to consider when forming a limited company.

Wisteria Formations are happy to offer free support and advice when working through the online company formation process, through their UK customer support team. This, along with this the creation of the new company formations guide, will hopefully help to improve the understanding of limited companies in the future.

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Small business accountants and Self Assessment tax return specialist, Wisteria has this week unveiled its new website

Edgware-based, London accountants and business plan experts, Wisteria has launched its brand new website.

The new site, wisteria.co.uk is packed with user-friendly content, useful tips, working tax calculators and business plan templates as well other tools for businesses of all stages (start-ups and established businesses). Wisteria’s services range from business planning, to Self Assessment tax returns, tax advice and accountancy work The new website showcases their qualified team’s experience and expertise in the areas that growth businesses require.

The new website makes finding the services that best suit your business fast and simple. Key business areas and products are broken down into manageable chunks. Users can select the profile that is right for their business and explore the range of specialist services Wisteria can offer.

Wisteria is expecting to continue enhancing their website with new interactive functionality and further informative content. Users are encouraged to contact info@wisteria.co.uk should they have suggestions to further improve the site.

For more information about Wisteria and their business plan writing, accounting and tax return service please contact Andrew Millet.

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Welcome to EPR Accounting News

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EPR Accounting News is a new blog, part of EPR Network, that is going to be focused on and will be covering the accounting news and stories from press releases published on EPR Network.

EPR Network (EPR stands for express press release) is one of the nation’s largest press release distribution networks on Web. The EPR’s nationwide network includes 12 State based PR sites, one major PR forum and a number of industry specific PR blogs and what started as a hobby on Internet years ago turned out to be a rapidly growing business today. EPR Network is also known as one of the most trusted (human optimized, published, edited and monitored, spam/scam/low quality PR content free) PR sites on the web with more than 10,000 company and individual press releases distributed per month. EPR Network is putting your press releases on top of all major search engines’ results and is reaching thousands of individuals, companies, PR specialists, media professionals, bloggers and journalists every day.

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