Reconsidering the Income Statement

A recent article on the McKinsey & Company website reconsiders how the income statement might be restated to better reflect operating and non-operating income. Simply, the income statement would be divided into two parts: recurring operating income in one part and non-operating income/expenses and nonrecurring items in the other. The thought is that it would better reflect true recurring earnings, provide a better basis for comparison and eliminate duplicative work.

Benchmarking: Knowledge is Power

Wondering if the competition is outperforming you?  Looking for some best practices?  Want to set realistic goals and targets for your team? These are all good reasons to consider benchmarking your company’s performance against others in your industry. Benchmarking compares your performance against other similar companies. Any metric is ripe for benchmarking – financial, quality standards, service levels, time to market, you name it.