Up and Coming - Universal Accounting Center - Up Grade, Salt Lake County

Teaching Basics Propels Company to Inc. 500 List

Universal Accounting Center (UAC) was built around the need to train individuals in the proper application of accounting principles in the daily processes necessary to run and operate a successful business.

In the 1960's, Alf Bostrom, founder of Universal Accounting Center, decided to venture into business for himself. His management company took failing businesses, many on the brink of bankruptcy and promised to turn them around using his own capital and lines of credit. What business owner wouldn't take that offer? Alf didn't earn a dime unless the business became successful.

Alf learned how to make any business successful by adhering to basic principles in production, marketing and accounting. He also learned that most individuals with accounting degrees lacked the proper training to do the accounting for the small business. Accounting professionals also didn't seem to know how to market themselves. So to fill the gap, Alf created and wrote a small business accounting program. In 1979 he opened the Universal Accounting Center (UAC) with a mission to teach CPA's, accountants, and business owners the proper method of small business accounting.

In 1992, two of Alf's sons, Allen Bostrom (a practicing CPA) and Ken Bostrom, joined the company with various talents and experiences and expanded the work with small and large companies. Since that time Universal has become an international institution with campuses located across the nation and a large online presence. Universal's training products has helped to position the company as a mainstay in the accounting industry.

"We assist accounting and tax firms in building more profitable client bases," says Allen Bostrom, UAC President. "We help individuals start and enhance their careers in accounting and tax so that they can receive the promotions that they deserve and earn what they are worth. We take businesses from red to black so that they can be successful and increase their profits."

Universal Accounting believes that the role of accounting is a proactive one. The accountant should be the Growth and Profit Expert; regular accounting is the asset that every business needs in order to be profitable. Universal Accounting is committed to creating a positive paradigm shift in the role that accounting plays in business.

In today's uncertain business climate, continuing education is the key to individual career success, advancement, and job security. Universal Accounting Center provides individuals short-term, highly effective training that provides hands-on instruction in the fields of accounting, bookkeeping and tax preparation. These short-term courses fulfill the need for anyone interested in entering or enhancing a business or accounting profession.

As a testament to the innovative principles used to help individuals and companies, Universal Accounting Center was named to Inc. Magazine's 500 fastest growing private companies for 2006. Universal Accounting has grown 436 percent in a three-year period, placing the firm at 313 on this year's list.

"We're pleased and flattered to be a part of such a prestigious group, and grateful to the hard work of a great team of professionals at Universal Accounting Center," said Bostrom.

In his interview with Inc. Magazine, Allen noted that "eighty-five percent of businesses in this country have fewer than 20 employees, yet universities train for Fortune 500 accounting."

The company has received local recognition as well. In 2004 UAC debuted on the Utah 100 list of fastest growing private companies in the state at number 72. A year later Universal Accounting Center jumped 25 places on the list, entering the top 50.

For more information about Universal Accounting Center, call 1-800-343-4827 or visit www.universalaccountingcenter.com.