Friday, July 31, 2015

Niskayuna Girls Travel Basketball Junior B League Champions

Niskayuna players have worked diligently to build trust and respect with one another. Their hard work helped them become a complete team with the passing of each practice, and each game in which they were involved. This young team of talent continued to build on early season successes and developed the sheer confidence necessary to overcome challenges. This team discovered a sense of unity needed to become a formidable opponent through the season. The championship was a genuine source of pride that made every player, coach and parent extremely proud of his or her accomplishments.

At the beginning of the month, the Niskayuna Girls Travel Basketball Junior B team had achieved greatly and marked the starting point of an excellent season of basketball.

The 2014-15 season marked victories, memories, and great momentum, which continued to pile up throughout the course of the season. The team became the best squad in the AAU and compiled a 15-0 record that would launch them into the postseason for the Capital District Girls Basketball League. The tournament took place in early March and hosted the top teams in the league.

StephenSouky takes great pride in the continual progression made by his team. He feels their camaraderie; respect and compassion helped develop them into a truly dominant unit. The team became one breathing force and in doing so they truly relied on teamwork, practice, and skills and faced each new challenge relatively unscathed and unafraid of failure. Souky is the President of the team and the AAU. He has volunteered his spare time as a coach and helped develop a winning team.

Friday, July 24, 2015

GAAP Concepts and Assumptions

Adhering to the Generally Accepted Accounting Principles is critical to the accounting industry. The GAAP was created particularly as a way to ensure accurate and effective maintenance and production of financial reporting for both individuals and businesses throughout the United States. The GAAP is composed of basic principles, assumptions, and constraints.

Each of the unique concepts provides the GAAP its fundamental foundation. In fact, that are four basic concepts and assumptions to consider such as the business entity, going concern, monetary unit, and the period principle. The first assumption is that the business is, in fact, separate from both its owners and from other companies. It is in fact based on revenue and expenses and should, therefore, be kept separate from those of personal nature. The 2nd assumption states that the company in question will operate indefinitely to be successful. The assumption validates such methods as asset capitalization, amortization, and depreciation. 3rd, the GAAP assumption here is that a stable currency is going to be constantly the company's unit of record. The US Dollar value is typically the accepted unit of record by the FASB. This implies that a company's economic activities can be separated into artificially created time periods.

Stephen Souky understands the importance of adherence to GAAP and as a successful accounting professional he is someone who possesses a significant level of knowledge and skill and expertise. Especially when it comes to personal and corporate accounting, Stephen can provide organizations the services and management they need to meet their financial objectives successfully. He is skilled at ensuring strong financial security well into the future.