(Ed. note. All the details included in this story are correct, although some have been omitted for the protection of the innocents.)
As a young man, one of my first jobs was as an assistant in a CPA practice, where the owner also owned 10 businesses. The accounting practice specialized in start up companies and also troubled companies. I learned that accounting is not boring. During my first week on the job, something happened that affected by attitude toward budgeting.
Each of the managers ran three of the companies, and they came in to the office every week for a check in. As Big Al, my boss was chit chatting with one manager that first week, he asked how things were going.
"Things are going great, Al", he said.
"They can't be going too great cause I got a note from the bank today that you are over budget," Al camly replied.
"How can that be?" the manager asked with amazement. " The only thing I did was order business cards for $43.00."
"Well," Al replied, "ya got to talk to me about those kinda things. It's not in the budget ya know."
Al had a unique style of managing his 10 businesses. He put the amount of budgeted expenses in the account at the beginning of the month. His bank agreed if an account ever went negative, they would call in the morn at no charge to let him know. Thus, every time his managers were over budget, even by one penny, he knew instantly.
Yes. He was a millionaire. There are some adjectives also, but I will omit them for the record. Make a note of it.
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