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Form FAQs IN-51101 - Newspaper Publishing This form is in Sector 51.

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Questions

Sector Questions

1.    What if the form I received does not apply to my business or operation?

2.    If I don't have information should I leave an item blank?

Form Questions

3.    How should I report inventories (Items 10 and 11)?

4.    What if a publishing company operates newsgathering, editorial, and similar offices that do not directly generate sales or receipts (Item 4)?

5.    How do I report international receipts or revenue (Item 4)?

6.    What is considered e-commerce (Item 5)?

7.    What are fringe benefits (Items 6 and 7)?

8.    What are leased employees (Item 7)?

9.    Can you explain the inventory valuation methods (Item 10)?

10.  What if my kind of business is not listed (Item 18)?

11.  What is a publisher (Item 18)?

12.  How should editorial offices, news bureaus, and similar offices (except printing plants) be designated (Item 18)?

13.  What are Internet content publishers (Item 18)?

14.  What if my establishment conducts several kinds of business (Item 18)?

15.  What does 'outright sale of rights in perpetuity' mean (Item 22)?

16.  What if my product line is not listed (Item 22)?

17.  What is a shoppers' newspaper (Item 22)?

Answers

Sector Questions

1. What if the form I received does not apply to my business or operation?

It is important that your business provide data for the 2002 Economic Census. Use the form you received to provide census information for your business. Each form was designed to have some flexibility in use. Using it will help you provide a timely response, and we will contact you if we have any questions. If you cannot use the form that you have, please contact us.

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2. If I don't have information should I leave an item blank?

No. Please provide your best estimate of any item that is not available from your business records. Identify and explain any estimate you provide in the "Remarks" section available on most forms (after Item 29). However, if an item does not apply to your establishment, you may leave it blank.

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Form Questions

3. How should I report inventories (Items 10 and 11)?

Report the value of all inventories owned by this establishment, or which this establishment is responsible for regardless of where the inventories are held. Report inventories at cost or market using generally accepted accounting methods - (GAAP). Include finished goods, work-in-process, and materials, parts, and supplies.

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4. What if a publishing company operates newsgathering, editorial, and similar offices that do not directly generate sales or receipts (Item 4)?

Mark the "None" box and include the sales or receipts on the census form for the establishment where they are generated.

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5. How do I report international receipts or revenue (Item 4)?

Report international revenue for services performed for foreign parent, subsidiaries, branches, and companies not affiliated with your company. Exclude revenue generated by foreign parent, subsidiaries, and branch locations.

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6. What is considered e-commerce (Item 5)?

E-commerce (or electronic commerce) is any business transaction whose price or essential terms were negotiated over an online system such as an Internet, Extranet, Electronic Data Interchange network, or electronic mail system. It does not include transactions negotiated via facsimile machine or switched telephone network, or payments made online for transactions whose terms were negotiated offline. For more information please refer to Item 5 of your Information Sheet.

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7. What are fringe benefits (Items 6 and 7)?

Fringe benefits are the employer's costs for social security tax, unemployment tax, workmen's compensation insurance, state disability insurance pension plans, stock purchase plans, union-negotiated benefits, life insurance premiums, and insurance premiums on hospital and medical plans for employees at this establishment.

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8. What are leased employees (Item 7)?

A leased employee is a full or part-time employee of a business or organization that has contracted with an employee leasing service (also known as a professional employer organization) to obtain human resource management services. The employee leasing company provides a wide range of human resource and personnel management services, such as payroll accounting, payroll tax return preparation and filing, benefits administration, recruiting, and labor relations management, to the client business. The employee leasing company and client organization operate as co-employers with regard to the human relations responsibilities to the employees covered by their contract. The employee leasing company pays wages and employment taxes of the leased employees out of its own accounts.

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9. Can you explain the inventory valuation methods (Item 10)?

LIFO - A method of valuing inventory and cost of goods sold where the last goods purchased are assumed to be the first goods sold, so that the ending inventory consists of the first goods purchased. LIFO assigns the costs of the last items purchased to the first items sold. LIFO matches the most recent costs incurred with current revenue.

FIFO - A method of valuing inventory that assumes the oldest stock items are the first items sold (during an accounting period). Ending inventory therefore consists of the most recently purchased goods or most recent costs. FIFO approximates the results that would be obtained by matching the specific cost of each item sold if items were sold in the order in which they were purchased.

Average cost - Method of valuing inventory that assumes the costs of the items included in an inventory change reflect the average historical cost of all items in stock.

Standard cost - Represents various methods of valuing inventory. Methods tend to be either management judgment of actual cost, or rule of thumb based on the previous year's cost.

LIFO reserve - Companies that calculate inventories under both the LIFO and FIFO methods can calculate LIFO reserves. This figure is the difference between the FIFO ending inventory balance and the LIFO ending inventory balance. LIFO reserve is the amount of the asset computed under FIFO that is not reported under LIFO.

Work in process - References partially completed units in production along with related (overhead) costs.

Raw materials - References goods purchased for use in the production process.

Finished goods - References produced products that are completed and ready for sale.

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10. What if my kind of business is not listed (Item 18)?

Please choose "Other kind of business" at the end of the list, and briefly describe your establishment's principal business activity in the space provided.

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11. What is a publisher (Item 18)?

Publishers distribute an array of creative works such as news, articles, directories, and other content. Publishers may distribute work in one or more formats such as print, Internet, or other media.

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12. How should editorial offices, news bureaus, and similar offices (except printing plants) be designated (Item 18)?

Please mark the check box for "Other newspaper branch offices" and provide a description.

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13. What are Internet content publishers (Item 18)?

Internet content publishers are publishers who publish exclusively over the Internet. Publishers of Internet content provide textual, audio, and/or video subject matter of general or specific interest.

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14. What if my establishment conducts several kinds of business (Item 18)?

Please choose the one box that best describes the principal kind of business your reporting establishment conducts. If your principal business is not listed, please choose "Other kind of business" at the end of the list and briefly describe it in the space provided.

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15. What does 'outright sale of rights in perpetuity' mean (Item 22)?

This means selling your rights (to particular content) completely, forever. The owner no longer has claim on the intellectual property.

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16. What if my product line is not listed (Item 22)?

Please use the "All other receipts" line in Item 22 to provide information for any previously unlisted product line(s).

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17. What is a shoppers' newspaper (Item 22)?

There are two types of shoppers' newspapers. The first type contains only consumer advertising and it is classified in NAICS 51112 - Periodical Publishing. The second type contains other information, such as feature stories; it is classified in NAICS 51111 - Newspaper Publishing.

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