Industry Stds

Industry Stds
Financial Software for the Business Professional

Without a yardstick, you can't tell how far you've come or how far there is to go.

Industry standards provide that yard stick for the business firm. Without it, you can't know if your Accounts Receivable is too high or too low, if too many assets are idle, or that they are exceptionally efficient, etc.

Many sources are available with industry data. However we have patterned our input form to closely resemble the format used by Robert Morris Associates' Annual Statement Studies. This widely used data source can be found in most libraries. An alternate source may be your industry trade group or association.

Profit Plan comes equipped with a full listing of standard industrial codes and definitions, as provided by the federal Department of Commerce. You will find it a convenient source for confirming the SIC you utilize and is part of the Industry Standards module shown below.

The clip below shows part of the industry data captured for Alpha Plus. You can store and select data for any number of SIC codes, years, and data ranges within this module. The current selection is the one used when generating reports at any given time. One handy use of this is to be able to compare ratios with your firm's performance over multiple years, and to select ratios that are relevant to a particular aspect of your business for comparison with a particular portion of your accounts, such as sales or gross profit..

Find NAICS and SIC codes and definitions here. Enter industry ratios