Stephen Souky - Common Basketball Mistakes

As a youth basketball coach, Stephen Souky has helped many amateur athletes through the intricacies of the sport. While the rules and scoring structure may seem simple enough, there are many complicated issues in basketball that players need to understand in order to avoid being penalized in any way. Below are some of the common, yet costly mistakes that players make while on the court.

Traveling

In basketball, traveling is when a player moves their feet without properly dribbling the ball. However, pivoting on one foot with the ball is allowed, so long as your pivoting foot doesn’t lift or slide. Some beginners will be so worried about being called for traveling that they do not think about the pivot privilege; however, it is one that can make a great difference in offense.

Shooting Over the Three Point Line

When a player goes for a three-point shot, it is essential to remember that the player’s feet must land outside of the three-point line in order to get the full three points. Some players make shots by jumping over this line and then get frustrated for not being awarded points, but it is the proper rule of the game.

Stephen Souky has helped many players develop their skills to avoid these mistakes.

Stephen Souky - Scoring in Basketball

Stephen Souky is a youth basketball coach who has led his tams to victory through showing them ways to score more points. In basketball, the scoring is quite simple, as a player can only score so any points in a given scenario. Below are the main scenarios in which points will be put on the board.

Single-Point Scenarios

Basketball players earn a single point for every foul shot they make. A foul shot is taken from the foul line, which is near the top of the key. A player can be granted one, two or three foul shots per penalty, depending on where the player was shooting from, whether they scored or not, or the severity of the penalty itself.

Two-Point Scenarios

A player’s team is awarded two points for every shot scored within the three-point line.

Three-Point Scenarios

A player can score three points in a single play through a few different scenarios. The player can make a shot from behind the three-point line; the player can make a shot inside the three-point line and be fouled, leading to an extra foul shot; or a layer can be awarded three foul shot attempts as a result of a technical foul on the other team.

Four-Point Scenarios

A player can score four points in a single play if the player hits a three-point shot while being fouled by an opponent, allowing for a foul shot.

Stephen Souky has seen all these scenarios and more happen in basketball.

Stephen Souky - How to Improve the Accuracy of Your Shot in Basketball

Stephen Souky is an experienced youth basketball coach who has led amateur athletes to championships. He is well-versed in teaching the fundamentals of the game to others, and he appreciates the importance of having a good shot. In basketball, points scored is one of the ultimate stats upon which players are judged. It is also the basis upon which teams are judged, as the scoreboard is the ultimate decider of every game. Below are some basic tips to improve your shot accuracy.

Establish a Guiding Hand

When shooting the basketball, most players will use one hand to push the ball into the air and towards the basket, while they’ll keep another hand to the side of the basketball in order to properly guide it towards the basket. Many players prefer to use their dominant hand as a pushing hand, so the other must be steady and ready to stabilize the shot.

Use Proper Footwork

The direction of your shot depends highly on the posture of your body, which relies on your feet while standing vertically. The better your footwork is, the better your posture will be when you take shots, which will improve your accuracy and gain a more direct idea of where to place the ball.

Stephen Souky teaches his players this and more so that they can become more effective shooters.

Stephen Souky - Passing in Basketball

As youth basketball coach Stephen Souky knows, passing is essential to the game. Players must pass the ball to their teammates in order to confuse, evade and coordinate offensive attacks on the opponent. Passing also helps boost team chemistry and overall effectiveness. Below are some basic steps to take that could improve the passing for your team.

Do Passing Drills

Passing drills can be carried out in a number of ways. There is the more rudimentary format, where players line up and pass to each other, rotating occasionally so that each team member gets the chance to pass to every player on the team. For more advanced teams, passing drills can be carried out in the form of play-making, where picks and passes are arranged in a custom fashion. This brings us to the next point.

Form Strong Passing Plays

Plays are the framework of an offensive attack. In order to disorient the opponents and create room for clear shots, the passing plays must be diverse and effective. This involves every player doing their part in handling the ball, passing and setting picks to coordinate the play.

Stephen Souky has years of experience in teaching others to improve their passing games and maximize their offensive attacks.

Stephen Souky - How to Maximize Family Time

With the amount of work parents have to handle at home and at the workplace, there seems to be less and less time for them to spend together with their children. Having to do the dishes, laundry, cook food, clean the house and other household chores take up a considerable amount of time. According to the Bureau of Labor Statistics, women spend only slightly more time doing household chores than men. Stephen Souky is a committed family-man and makes sure he spends quality time with his family. Here are some tips you can use to maximize family time.

Create a To-Do List

Instead of just creating a normal to-do list, innovate by creating three categories; Do, Don’t, and Delegate. Stephanie Vozza, the author of The Five Minute Mom’s Club says, ”There’s always one thing on your to-do list you know you’re not going to do. Cross it off,” If you can’t do something, you might want to delegate it to someone else. She also recommends drawing happy faces next to things you like doing, and dollar signs next to things that could save you money. She believes that these visuals will help you why things matter.

Use Your Resources

Take advantage of what you have. If you have a babysitter working at your home, you might want to ask her to prep dinner, restock the diaper bag, or pick up the toys. Check if your dry cleaner can pick up and deliver clothes to your home. You might also want to combine different errands into one to save time.

Get the Kids Involved

A great way to spend more time with the kids is to get them involved in doing things. Turn chores into bonding time with your kids. Teach your kids to pick up the toys and put it in a toy basket. You might want to create a “clean up” game where your kids play together with you in helping clean up the room. Be creative like singing a song as you clean up or playing who can pick up more stuff in a minute.

Stephen Souky believes in creating unique chores that allow him to spend more time with his family.

Stephen Souky - Important Things Your Business Plan Should Have

Creating an effective business plan is paramount to the success of your plan. Without a plan, you will have trouble executing your plan and seeing it come to fruition. If you cannot see where you are going, there is no way you will get there. Stephen Souky is an experienced accountant with twenty years’ experience in the field. Here are some important things your business plan should have.

Contents

The first thing you will need to do is create a content list for your business plan with details of the name of the company, address, phone number, including all contact information. You will also need to have a roadmap for the whole document together with the appendix of supporting documents.

Executive Summary

Your business plan should have an executive summary listing your propositions, and how the company can make money by executing your plan. The executive plan should be to the point.

Market Opportunity

You will need to explain your target market and what opportunities and threats exist. You will need to explain how you plan to deal with these issues.

Industry Analysis

Get real industry analysis to see what competition you could be up against. Who your competitors are and how much market share they control.

Operational Plan

You will need to be specific on the operational structure of your plan, how you intend to go about it with production, licensing, advertising, marketing, sales, cost structure, etc.

Financial Projection

Your plan will need to include the total investment cost and the expected return over the next couple of years.

Stephen Souky has over 20+ years experience in accounting and strategic planning.

Stephen Souky - Tips for Last-Minute Tax Filers

Sometimes it just seems that income tax filing time has come too quickly. If you have been busy with your business or work, you probably didn’t realize that it was time for you to submit your income tax returns. Stephen Souky is experienced in accounting and knows the importance of making sure you file your income tax papers in time. However, if you are late with your filing, there are a couple of things you can do.

Get an Extension

The first thing is not to delay your filing, but if you do not have the time to submit your taxes in time, you might want to take the services of a professional and ask for more time. If you file form 4868, you will be allowed to time until October 15 to file your income tax returns. However, you will still need to estimate how much you owe the tax department and send it in by April 15.

File Your Taxes for Free

The IRS Free File program allows you to file you tax returns for free. The program works with commercial tax software companies and offers free online income tax filing tools for taxpayers who earned less than $58,000 in the previous year. If you earn more than this amount, you will not qualify for the free tax filing program.

Free Tax Help

You can make use of the Volunteer Income Tax Assistance (VITA) program for free tax filing assistance. If your income is relatively low, you can avail of this program to file your returns. However, if you plan to use the VITA program, you should do so before April 15.

Stephen Souky recommends starting early so that you are not caught up in the last-minute rush to file your returns.

Stephen Souky - Three Accounting Software for Large Businesses

In the business world, few other things can be as tedious as trying to maintain the accounts. Stephen Souky has a strong background in accounting and is competent with Generally Accepted Accounting Principles (GAAP). If your businesses is a large one, chances are you might be using an accounting software to get things going. However, there is no one-solution-fits-all when it comes to accounting software.

Some accounting programs are designed for simple bookkeeping while others are specially designed to manage the financial affairs of whole companies. Here are three accounting software large businesses might want to use.

Financial Edge

Financial Edge is a cloud-based accounting software from Blackbaud that offers transparency across teams, compliance, security and it reduces the need for manual accounting. Financial Edge is a fund accounting software that provides projects, general ledger, grants, endowments, fixed assets, payable and receivable and much more.

It has a fully customizable dashboard and enables users to carefully monitor income statements, cash balances, program-to-expense ratios, and more with complete export capability. The software is backed by Blackbaud, a company with three decades of experience in the accounting market. The software also allows users to project accounting for streamlined management of various budgets, and to monitor and generate reports.

Xero Software

In under ten years, Xero has managed to rise to the top as one of the best accounting packages for businesses. The company was established in 2006 and its accounting software is Web-based. Xero is ideal for small and growing businesses and is currently being used by over 150,000 companies globally.

Xero is a Web-based solution that can be used on any device with an Internet connection. The software allows businesses to monitor their cash flow, account details and other transactions from any location. With Xero users can keep track of all bank transactions, as they are automatically imported and coded. It also provides a detailed view of online bills to help keep track of spending.

Intacct

Intacct is a Web-based accounting software that is ideal for mid-sized businesses. The company was founded in 1999 in San Jose, CA and has more than 30,000 users. Intacct is ideal for businesses looking for support applications for time and expenses, core accounting, project accounting, revenue management, global consolidations, order and billing, purchasing, financial reporting, and multi-currency management.

As a Web-based Software-as-a-Service (SaaS), Intacct can be easily accessed through any browser with an Internet connection. Intacct is Oracle-based, and its applications and data are hosted by IBM e-business Hosting Centers. Disaster recovery for the software is provided by Sungard.

Stephen Souky has worked with accounting software in the past.

3 Easy Steps to Determine Business Startup Costs 

A lot of companies did not last more than two years. Time and again, the reason behind their failure is that the administrators fail to carefully determine the startup costs before starting the business. In order to avert this danger, you should carefully forecast the costs, and make necessary arrangements to take care of the costs as they emerge.

Here are three easy steps you can follow:

Get enough information about your business sector

Make thorough research on what your business is really all about; the nature of the business and the relevant strategies to adopt. Network with business pioneers of organizations like yours (serving different markets, obviously). Ask relevant questions that will aid you to start, and manage your business successfully.

Categorize your costs

Business costs include the production costs, costs of advertisements, costs of marketing, costs of obtaining relevant licenses, administration costs, costs of raw materials for production, and other costs. All these will be included in your general startup costs. Also, you can add small percentages to your costs so that you will not be taken off guard by an unexpected increase in the costs.

Compute a startup cost worksheet

Input all the figures you have determined through your research. You should gauge how reasonable your costs are, and make adjustments if necessary.

To achieve success in a new business, take your time to determine the startup cost prior to the kickoff of the business.

Stephen Souky is in the fiber/internet/cable business. He is a professional accountant; he has strong skills in business valuation, income tax preparation, and various types of accounting software. He holds a Bachelor of Science degree in Accounting from State University of New York at Fredonia.

How to Promote Effective Teamwork in 5 Steps

Many organizations arrange themselves in groups or teams in order to increase their productivity, yet sadly, not every manager or entrepreneur deals with his team proficiently. The consequences of poor administration over a team include disobedience and clashes between team members. Indeed, even a small business owner with only a couple of employees ought to make moves to promote effective teamwork.

1. Understand your employees

Get a deep understanding of the personalities of each member on your team. Clashing personalities within a team will lead to inefficiency and decreased productivity. Learn more about your employees including their work style, skills, strength, what propels them to succeed, and how they can positively affect the business. Also, arrange regular team building activities outside the work place; this will help to foster good relationship between the members.

2. Declare your goals

When you declare your goals to the team members, it will give them a sense of direction and increase their morale. Hold a meeting to make your short term and long term goals known to every team member, and also hold regular meetings to evaluate the progress of the team.

3. Establish some rules

Establishing rules and standards to guide the team is very important. Each team member should have access to a written copy of the rules in order to avoid confusion.

4. Assign tasks and responsibilities

Assign tasks and leadership roles to members of the team, this will help to establish order in the team.

5. Consolidate good teamwork efforts

Give incentives and certificates to committed team members.
To boost the morale and efficiency of your employees, you need to sharpen your team building strategies.

Stephen Souky is an accounting professional. He is working as a Controller at MHC.

How to Create a Solid Business Plan

It is essential to start your business with a clear and thorough business plan. A solid business plan includes; the information that you need in order to start your business and the steps you need to take to achieve success.


In order to create a solid business plan, you should consider the following:

1. Know Your Market

As you get ready to create your business plan, you ought to have a deep understanding of the nature of the business. Carry out a market assessment on similar products that are already on sale, the price of the products, and the main competitors in that business sector. Figure out the area of customer needs that your product will meet, and then design your business and advertising plan with the aim of meeting those needs.

2. Create a support network

Regardless of the possibility that you are starting your business as a sole proprietor, a part of your business plan should include a strategy to create a support network or partnership. Also, you should network with relevant professional bodies that are around; get information from professionals that are already in the business.

3. Make informed projections

Your income projections will help you to shape your strategies as you make your business plan. Set goals to be accomplished when you make income projections, and then create strategies to achieve those goals. Conduct a thorough research on your business sector, and then use the information to make your projections.

Without a solid business plan, you are putting your investment at risk.

Stephen Souky is a Certified Public Accountant. He is in the fiber/internet/cable business. He has worked and thrived in the field of accounting for more than twenty years.

Three Uses of Accounting Data in Business Decision Making 

Almost all the business transactions are recorded in the financial records of the organization. This data can be effective in the right hands. The uses of accounting data include;

Business Planning

One of the most common uses of accounting data is to develop financial plan, and to make estimates for the business plan. A comprehensive accounting data will aid financial planners to make necessary projections for the upcoming year. The planning process as a rule starts with sales projections and cash flow evaluations. At each progression of the procedure, previous accounting data is used to make projections for the current year.

Business Evaluations

Accounting data is not only used to make estimations, it is also used to evaluate business. Many entrepreneurs evaluate their accounting data monthly by comparing the total sales, and the cost and benefit performance to the established estimations. Also, the higher the frequency of evaluating the accounting data, the more the administrators will easily discover and solve minor problems before they get out of hand.

Investment Decisions

Proper evaluation of an organization’s accounting data will help the management to make informed investment decisions. By analyzing the organization's financial estimations, administrators can decide the amount of fund required for the short term and long term investment choices.

Having the knowledge of how accounting data is used in making business decisions can help you to use the data that you already possess to improve your business.

Stephen Souky is a Certified Public Accountant (CPA) and a Controller at MHC. He graduated from the State University of New York at Fredonia in 1992, and he is a member of GPUG - Great Plains User Group (for accounting software).

CFO Responsibilities

Preparing to become a CFO of the future requires that you understand the many complex responsibilities of this profession. Only the top Chief Financial Officers will understand the commitment and dedication it takes to ensure success across each part of the CFO spectrum.

If you're looking to understand the responsibilities here is a little insight into the basic duties of an organizational Chief Financial Officer.

Starting with controllership, the CFO must constantly work towards both presenting and reporting timely and accurate financial information of his organization.

Anyone affiliated with the company will depend on this info to be accurate and delivered on time, every time. This information and responsibility include every person involved from the shareholders and creditors to management and employees. Another primary responsibility of CFO is managing the condition of the company's finances. That statement means they handle how the company's money is invested and includes the best mix of equity, debt, and internal financing. Plus it ensures the overall capital structure of the organization itself. With the right strategy and forecasting, a CFO can lead a company to success in any size business looking to go to IPO or acquisition. A CFO understands the best ways to capitalize on areas of company efficiency. They also know exactly when and where to eliminate inefficiencies for the future.

Stephen Souky aims to utilize his considerable skills, education and proficiency in numerous types of accounting software to ensure a company can consistently meet and exceed its organizational objectives well into the future.

Stephen Souky - GPUG Member and Advocate

Only the most elite of tax and accountant professionals will understand the importance of tools like Dynamics GP software to both the future of their profession, and to the future success of their company. The true professionals must realize that their personal success is synonymous with their company's success. The GPUG is a virtual community of professionals who utilize and are proficient in the use of Microsoft Dynamics GP software. GPUG serves endlessly as a highly effective way for Dynamics users to discuss, review, share and educate each other on new and useful applications of the Dynamics GP software.

Techniques and ideas are constantly being created and revisited in accordance with market trends. GPUG members enjoy the opportunity to take advantage of the many benefits. These member benefits include the opportunity to learn from others throughout the professional accounting industry. They get a key insight into the most effective ways to get the most from the Dynamics GP platform. Learning the key concepts of best practices and standard operations can help a professional advance their career while improving the overall success of their firm.

Accounting professional Stephen Souky is proud to be a member of CPUG or the Dynamics Great Plains User Group. Stephen Souky is currently working as a Controller with MHC and Affiliates. He constantly looks forward to leveraging his GPUG membership to connect with fellow accounting professionals across the globe. He works endlessly to discover new tactic to educate himself and his company on how to efficiently manage Dynamics GP.