By Mike Bedel, CPA, CGMA, MBA
Partner, Director of Audit & Assurance Services

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 15 th of the month. Timely, accurate information is essential to your management
team.  Consistency of practice is crucial.

Is your accounting department meeting these demands?

By Eric Woodruff, CPA
Manager, Audit & Assurance Services

Are you feeling overwhelmed? Do you look at your workload and feel like you have too much on your plate? It's time to step back and dig to the root of the problem.

Business owners and CEOs can often be their own worst enemies. Their extreme work ethic and type-A personalities can push them to pick up other people's slack and take on too many projects. Many times those projects are the direct responsibilities of other managers!

This is a pattern of unhealthy behavior that needs to stop. The point of operating a business is to collaborate with others toward a common goal - not to conquer everything on your own.

How do you get the monkey of stress off your back?

When Dave Grande took over as the owner of ProSource Wholesale of Indianapolis, he had no experience in the commercial and residential renovation industry. But he hit the ground running and helped the franchise business continue to grow as one of North America's largest trade-only wholesale suppliers for commercial and home improvement projects.
Established in 1991, ProSource boasts more than 140 showrooms across the U.S. and Canada. Grande owns the franchise rights to the entire metro Indianapolis area, overseeing three showrooms that offer flooring, kitchen and bath products for builders, remodelers, real estate agents and other trade professionals.
After 28 years as a manufacturer's representative in the machining industry, Grande took a risk and jumped onboard the ProSource team, buying the first north Indianapolis location from his wife's former neighbor in the spring of 2005.

Jo-Ann Lewandowski has been serving Sponsel CPA Group since the early days of its inception. A Manager in Employee Benefit Services, she focuses on serving clients in managing their benefits packages, retirement plans and related compliance issues.

With a bachelor's degree in financing from Millikin University and several years of work experience under her belt, she has a great deal of familiarity with DOL and IRS compliance requirements, including creating plan documents and preparing appropriate government filings, as well as processing participants' loans and distributions.

New Tax Law Brings Changes to 529 Plans
The new tax law signed by the president at the end of last year included some significant changes to 529 plans that taxpayers need to know. Read  this article from our own Liz Belcher to learn more.