In The News

Reach For Youth
Jason Thompson, a partner at Sponsel CPA Group, has spent nearly a decade giving back to the community through the Reach For Youth program. Reach For Youth aims to be a key resource for families, schools, the juvenile justice system and other community agencies serving youth in Central Indiana.

Staff Tax Season Party
As a reward for their hard work during this busy time, Sponsel CPA Group will celebrate with a party on Friday, April 15, at Action Duckpin Bowling. Another tax season behind us … job well done!

In addition, staff members have been given the option of taking any day off the week of April 18.

Thank You
to our Clients
As another busy tax filing season draws to a close, the members of Sponsel CPA Group would like to take the time to thank our clients for allowing us to serve them. Helping navigate these tricky economic waters is an important measure of the trust they place in us, and we appreciate the opportunity to continue earning their business throughout the year.

Call 317.608.6699 today to schedule a consultation with one of our partners or visit our website.

The "F" Word!
By Jason Thompson, CPA/ABV, ASA, CFE, CFF
Partner and Director of Valuation and Litigation Services Group

FRAUD happens more often than you think. Based on the Association of Certified Fraud Examiners (“ACFE”) 2010 “Report to the Nation,” your business could have as much as 5 percent of its annual revenues trickling out the door.

Fraud occurs most frequently in small businesses with less than 100 employees. Asset misappropriations – use of business assets for personal gain – are the primary schemes utilized by fraud perpetrators to pull off their scam. According to the ACFE 2010 survey and our own case history, the most common misappropriation schemes are fraudulent disbursement schemes. These schemes include several different sub-categories of fraudulent disbursements, with billing schemes – payment of company funds for a perpetrator’s personal benefit – being the most frequently used method of stealing from a business.

The Audit as a Management Tool
By Mike Bedel, CPA, MBA
Manager, Audit and Other Assurance Services

All companies have found new ways to be resourceful over the past two years. We are learning to get more value out of our assets and experiences.

A financial statement audit primarily adds value through the assurance it provides the users of your financial statements.

Consider that the financial statement audit might also provide insightful suggestions for management that should not be overlooked. Auditors are required to communicate certain issues with management according to auditing standards. How resourceful you are with that information is up to you!

10 Productivity Mistakes to Avoid in
Your Accounting Function
By Mary Ferguson, QuickBooks Certified Pro Advisor
Manager, Entrepreneurial Services

One of the more frustrating aspects of owning and operating a successful business enterprise is that the business owner may lack confidence in the accuracy of financial statements or financial reporting in general. There may be a number of reasons for this uncertainty. We believe the effectiveness of your accounting function may be one possible cause – a lack of productivity.

How do you measure the productivity of an accounting department? We offer a list of 10 common productivity mistakes we see in many companies: