Stephen Souky

Experienced Professional

Archive for the month “September, 2015”

How to Evaluate a Business Investment

It is essential to evaluate the outcome of an investment. This will help you to know whether it is a good investment or not. One of the most acknowledged and an essential system for evaluating a business investment is to compute the ROI (return on investment).

Here are simple steps you can follow:
1. Include all expenses connected with the investment you have made. Include the cost of advertisement, marketing, and other expenses made.
2. Compute the total income you have made as a result of the investment using your sales report.
3. Subtract your expenses from the total sales that you have made and then divide that figure by the total expenses. This will give you the return on investment. Then, multiply that number by 100 to get the ROI percentage.
4. Analyze the ROI rate to determine whether you have made a beneficial and brilliant business investment decision. If you have a positive return on investment, it shows that the investment was profitable.
Make sure you evaluate your business investment by calculating the return on investment regularly. This method is effective because it will allow you to evaluate your business investment with ease. Also, you can keep on setting clear investment objectives to either meet or surpass past results.

Stephen Souky is a Certified Public Accountant (CPA). He is a Controller at MHC. He is a skilled communicator and an effective leader. He has a Bachelor of Science degree in Accounting from the State University of New York (SUNY Fredonia).

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Four Little Things that Makes the Difference in Business

When you manage a business, it can once in a while become hard to concentrate on small details. As you begin to manage your employees, customers, suppliers, and your product marketers, you will begin to understand that it is the easily overlooked details in business that makes the difference. Those qualities that you underestimate can determine what people think of you, and it will help them decide whether they can do business with you or not. Such things to consider include;

  1. Good manners

In order to project a good business image and encourage business relationships, good manners are important. Being courteous and polite will help you to make good first impressions; this is very important in business. Learn to say words such as “please”, “thank you”, “sir” and “ma’am”. Also, learn to speak courteously, this will help to enhance your image.

  1. Quality control

Pay attention to quality in every aspect of the business. This is a little propensity that every business owner ought to have. The quality of your product and service is very important.

  1. Keep to time

It is better to be 15 minutes early to a business schedule, than to be 15 minutes late. Arriving at a business meeting late will project a negative image; you will be marked as somebody who is inconsistent and untrustworthy.

  1. Ask the right questions

Ask the right people the right questions. Having the habit of regularly asking the right questions can bring you more profits, and save you from making bad investment decisions.

Concentrate on the seemingly insignificant details and enhance your business image and relationship with your customers, suppliers and employees.

Stephen Souky is in the fiber/internet/cable business, and he is working as a Controller at MHC. He has a degree in Accounting from the State University of New York (SUNY Fredonia).

The Use of Accounting and Finance Software in Business

Accounting and finance software is very essential in order to succeed in business, regardless of the size and nature of the business. Many businesses have started making use of accounting and finance software as an integral part of their business operations.

Types of accounting and finance software

The two main types of accounting and finance software are;

Generic software: This is the best alternative for small businesses on account of its low cost of maintenance. Typical generic software includes Peachtree, and Great Plains.

Industry specific software: This offers more components and options. They are usually designed to meet specific needs of a particular organization. However, the cost of maintenance is high compared to generic software.

Merits of accounting and finance software

Accounting and finance software helps the management to make better decisions. It also helps in controlling costs, and in analyzing trends. It also helps to sort out information faster, and it enhances search capabilities without having to go through a heap of documents.

Costs

Sometimes, buying and maintaining software can be expensive. A small business may begin with one or two licenses. As the business grows, more licenses can be purchased. The cost of training the workers to use the software should also be considered.

In conclusion, accounting software will not replace genuine accounting knowledge. However, it may accelerate the procedure and make it faster. The fundamental knowledge of accounting is most times needed to setup the software and use it effectively.

Stephen Souky is an accountant; he has worked and thrived in the field of professional accounting for more than 20 years. He is a senior level manager in the Cable/Internet/fiber industry, serving as Controller at MHC. He has a strong background in corporate and personal income tax, business valuation, and various types of accounting software. He is also a member of Great Plains User Group (GPUG).

4 Reasons Why You Should Volunteer your Time to Community Service

Volunteering your time to community service can be fun and inspiring. There are diverse ways to volunteer your time to your local community. You can volunteer your time to coach a local team, raise donations for the less privileged, serve meals at the neighborhood soup kitchen, and so on.

Below is a rundown of how community service can benefit you and the community at large:

You will gain emotional satisfaction and fulfillment

Everybody has the capacity to help others in one way or the other. The fulfillment that comes with knowing that you have added value to someone else’s life is a great reward that cannot be quantified.

You will have the opportunity to connect with other people

You will be able to make new friends and connect with other people. This will help you to develop necessary social and communication skills.

Volunteering your time will help to improve your self-esteem

When you see the impact of your service on the community or an individual, you will have a better feeling about yourself.

Volunteering your time is a good way to fight depression

Social isolation is a key danger element of depression. Volunteering your time to community service will keep you in regular contact with people, this will give you strong emotional support to fight depression in difficult times.

Find out about how you can make impact in your local community, and you will experience the rewards that comes with it. Our acts of generosity, kindness and love are those things that strengthens the community.

Stephen Souky is an accountant and the president of Niskayuna Girls Travel Basketball Team and AAU programs. He is also a part of the community support efforts being undertaken by his church (Grace Fellowship).

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