Allen Bostrom – Universal Accounting

Every year, since 2004, there’s been chatter regarding tax preparer registration or licensing.  Five years ago, there was even legislation proposed, but other priorities trumped it and it was allowed to die.  Each year, since that time, someone has tried to carry the flag, but with minimal success even though the abuse of RALs and error rate for Earned Income Credit claims have been rising.

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An associate of mine once took over the management of a car dealership that was really having some financial difficulty. In order to generate more cash, he sold one of the product lines to another company. It raised a lot of immediate cash. Then, after reviewing the accounting statements, he realized that this particular product line had been generating a large portion of the profit. Although he was able to solve a short-term cash problem, he created a longer-term problem. He then had to acquire other product lines to replace the moneymaker that was lost. This problem could have been avoided altogether if the accounting system had been set up in order to give him the information that he needed to take immediate action. This accounting problem was soon remedied, but it took several months to re-build sales to previous levels.

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Google, watch out!  You may have hell to pay!

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I have always had a passion for business. I enjoy working with company owners and managers in improving their businesses, but I am often astonished at how little they know about their own companies.

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I recently read an article authored by a well-known writer, we’ll call him Bob, wherein it was stated that a home is a liability not an asset.  Later, in a discussion with an associate, I understood that this is a rather controversial topic particularly among accountants.  As an accountant, I want to weigh in on the subject.

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Every business is going to receive a complaint from time to time.  Even Disneyland®, The Happiest Place on Earth, receives complaints.  So, receiving criticism does not make a company bad or a scam.  Instead, it’s how the business responds to the grievance that makes the difference.

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The other day, I was rummaging through some of my father’s old business materials, and ran across an article that he wrote that is just as powerful and needed today, as it was two decades ago when he wrote it. In fact, with competition the way it is today, I have to say that it is even more important that every associate in a business look for opportunities to make their job and their company better. Here’s the article that my father, Alf Bostrom, titled “Ideas” – enjoy! Read more »

There’s no question, that the great employees I have the privilege of working with every day, are the reason for our Company’s terrific growth.

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Have you been “tweeted”, “friended” or “connected with”  lately?  If so, you understand the latest in social media among business owners.

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Over my professional life, I’ve enlisted the help of dozens of consultants of different types.  In my mind, the purpose of a consultant is three fold:

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