Truth in Reporting --Dickeson

One thing that has puzzled me for many years is how printing companies can stay alive with the kind of operating income they report to the Printing Industries of America (PIA). These reports are the basis for the Ratio Studies that PIA publishes annually. Surely the reports of 600 to 900 companies, as a cross-section of our industry, must be true. Or...as true as can be expected with the general ledger financial reporting system we have in place.