Thursday, September 18, 2014
Accounting Businesses Top List Of Money-Making Industries
Sageworks, a financial information company, recently found that accounting, tax preparation, bookkeeping and payroll services (NAICS 5412) generated more profit per dollar of sales, on average, than other U.S. industries, according to a financial statement analysis for the 12 months ended July 1. Collectively, the accounting-related industries had an average net profit margin of 19.8 percent, which is more than double the average net profit margin for privately held companies overall.
Also at the top of the list of money-making industries were legal services (NAICS 5411), oil and gas extraction (NAICS 2111), and the rental or leasing of commercial and industrial machinery and equipment (NAICS 5324). Offices of dentists (NAICS 6212) rounded out the top five on the list of 15 most profitable industries, according to the financial statement analysis.
To read full article, click here.
Source: Mary Ellen Biery (www.forbes.com)
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