Posts Tagged ‘accounting’

Employee Spotlight: Philip Jackson

Not to be confused as the former professional basketball coach, Philip Jackson is a new Manager in our firm’s Tax Services department. He is also a CPA with more than 20 years of experience in public accounting in assisting businesses, individuals and not-for-profits through tax consulting and compliance services. A University of Indianapolis graduate with a bachelor’s degree in accounting, Philip enjoys explaining tax considerations and options to keep clients informed of current and potential tax regulations. This allows him to proactively provide knowledge and expertise from a tax planning perspective.

Having experience with clients in a wide variety of industries and sizes allows Philip to focus on a business’s specific needs and tailor the various solutions accordingly. This industry experience includes manufacturing, real estate, professional services and healthcare, to name just a few. Philip also has experience and interest working with technology companies and startups to provide business entity selection considerations and financial guidance.

As Chairman of the Indiana CPA Society’s Tax Resource Advisory Council and member of the Indiana Commissioner’s Tax Advisory Council, Philip works with federal and state taxing authorities as an advocate for clients and the public regarding various tax matters. In addition, he contributes his time as the leader of the All Pro Dad’s program for a community school, founded by former Indianapolis Colts head coach, Tony Dungy.

Philip’s wife is a fourth grade elementary school teacher and has two children, Katherine (age 12) and Thomas (age 7). When he’s not crunching numbers, Philip enjoys attending his children’s school and extracurricular activities, watching movies, following politics and traveling.

To Be Successful, You Must Be Intentional

By Tom Sponsel, CPA/ABV, CFF
Managing Partner
tsponsel@sponselcpagroup.com

Some leaders seem to simply have a golden touch. But success is no accident. The best leaders don’t stumble into it — they take a specific path. Here’s how you can follow suit.

Don’t be afraid of failure. Learn from it! The best leaders treat failure as a launching pad rather than a roadblock. In other words, fail forward. Figure out what didn’t work, determine what you can do to improve and keep pushing to achieve your goals. Keep in mind that you may need to modify those goals along the way.

Be intentional. Operate in a deliberate manner. Effective leaders come to decisions through careful and extensive analysis. They always ask questions and hold themselves and their team members accountable. They keep track of goals, evaluate progress and sometimes even bring in a third party to oversee the company’s practices with a fresh set of eyes.

Maintain a healthy balance. Great leaders seamlessly juggle personal and professional responsibilities. And they never lose sight of their long-term goals in and outside of the office. They have a specific vision for their work and home lives.

Whatever kind of leader you are — manager, supervisor, CEO, etc. — and whatever sort of business you’re in, this advice applies to you. Hopefully it helps you on your path to success!

If we can assist you further with achieving success in your business or personal affairs, please contact Tom Sponsel at (317) 608-6691 or email tsponsel@sponselcpagroup.com.

Making Your Staff Better than You

By Lisa Purichia
Partner, Director of Entrepreneurial Services & Employee Benefit Services
lpurichia@sponselcpagroup.com

A leader is only as strong as the team behind them. With just a few months before the end of the year, now is a good time to evaluate your staff and determine areas in need of improvement. Listed below are some tips to help you get started on the path toward strengthening your team and your company as a whole.

In the long run, taking these steps will enhance your ability to achieve desired results and make you a better leader as well. Most successful leaders surround themselves with a diverse, skilled group that in many cases encompasses individuals who have select skills that are better than the leader’s in certain tasks. But the group’s collective skills ultimately enhance the team’s ability to achieve success!

Listen closely! Ask your staff members about their goals within the company. Where do they hope to see themselves next month or next year? What do they want to improve? Raising these questions will let them know you care, but make sure your actions mirror your narrative and accordingly you will motivate them to be team players.

Invest in your people. Make sure they have all the necessary resources, including tools and training — not just in the beginning, but continuously throughout their time at the company. The current workplace environment mandates that your staff is continually enhancing their skills or learning new ones. Coach your employees and make them hungry to grow and thrive. But also be patient and give them the proper amount of runway and time to blossom. Focus on building upon the individual’s strengths and what they do well — don’t try and fit that square peg in a round hole!

Identify strengths and weaknesses. The most successful businesses have an effective talent management system for finding the BEST candidates to meet the company’s wide variety of needs. If there are competency gaps within your organization, perhaps you need to rethink hiring strategies, provide more training or assign certain tasks to different employees. You should ultimately strive to create an eclectic team. Diversity of thought and expertise breeds success.

If we can assist you with achieving success in your business through staff enhancement, please contact Lisa Purichia at (317) 608-6693 or email lpurichia@sponselcpagroup.com.

Employee Spotlight: Courtney Morin

Courtney Morin is one of the newest members of the Sponsel team. She joined the firm just last month as a Senior in the Tax Services department. With a bachelor’s degree in accounting from the University of Central Florida and 12 years of public accounting experience, Courtney brings a wealth of knowledge and skills to the table.

As a Senior, Courtney prepares tax returns for individuals, businesses and not-for-profits. She also provides tax compliance and planning services for clients across a broad spectrum of industries.

Outside of the office, Courtney enjoys spending time with her husband and their two little girls — ages 3 and 7 months. She especially loves playing games in the great outdoors.

Is Your Accounting Department Dysfunctional?

By Mike Bedel, CPA, CGMA, MBA
Partner, Director of Audit & Assurance Services
mbedel@sponselcpagroup.com

Cash flow is the lifeblood of any business. That’s why the cornerstone of any company is an efficient accounting department and financial reporting system that promptly measures and reports the results of your operations.

Financial statements should be prepared on a regular, systemic basis, around the 15th of the month. Timely, accurate information is essential to your management team. Consistency of practice is crucial.

Is your accounting department meeting these demands? Failure to pay invoices on time or deliver accurate, comprehensive reports can severely harm your company’s reputation and result in late payment fees, decreased credit worthiness, issues with your suppliers, etc. Lack of consistency, planning, transparency and oversight can also quickly lead to untimely financial reporting and poor management information systems. The risk of fraud is also increased in an undisciplined accounting environment.

As a business owner, it’s vital that you determine the people, processes and discipline necessary to make your accounting function run as smoothly as possible. Your management team should be reviewing your financial statements and key performance metrics on a regular, MONTHLY basis! A business that is not doing this on a regular basis is setting itself up for a less than successful result!

If you’re experiencing accounting issues in your company, it’s time to step back and determine the source of the problem. And if you need a fresh set of eyes on your accounting function, Sponsel can help!  Is it your people? Is it your systems, or lack thereof? Or do you simply not know? Whether you’re seeking consultation or thinking about outsourcing your bookkeeping needs, we can offer support.

If we can assist you with achieving success in your business or personal affairs, please contact Mike Bedel at (317) 613-7852 or email mbedel@sponselcpagroup.com.

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