Summary
Another mistake made by many printers is the failure to include all payroll related items under the payroll or labor heading. I will state with absolute certainty that probably 30-40 percent of the financial statements I examine are incorrect because they have one or more payroll expenses such as healthcare, unemployment insurance, and worker's comp placed under Overhead or Operating Expenses. These items do not belong there. Neither do payroll taxes or employer FlCA contributions.
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Latest Industry Study Reveals Bright Spot
Many, many years ago I attended a seminar where the speaker, in order to make sure the questions he wanted to answer were asked by members of the audience, actually handed out small pieces of paper to members of the audience prior to beginning his presentation. On each piece of paper was written a number and the actual question to be asked. He made little secret of what he was doing beforehand, and when it came time for the "qu...
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