“Don’t Let Your Wheels Fall Off”

Introduction

“Don’t Let Your Wheels Fall Off”

“Major problems facing businesses today with Controls and solutions to cover them”

About The Book

By RG Bud Phelps

This is my second book about the managers’ role in business, the first, “Cover Your Nut”, and was an introduction to “practical accounting in plain English for the real world”.  As stated in my first book, I have been involved in accounting and management for approximately 50 years, and luckily have been involved in various different types and styles of businesses.  I worked for a public accounting firm while attending college, and therefore had the opportunity to gain a good mixture of business experiences.  While working for the public accounting firm I was exposed to general business accounting, auditing, and also was fortunate to participate in the establishment of an extensive cost system for a manufacturing company.  This public accounting experience led me to my first accounting job, a candy manufacturer in Colorado, and  from that point in time little did I realize that my business experience would include the following – a candy manufacturing company, a cellophane printing company, a snack food company, an interior decorating and furniture sales company, a camper & trailer manufacturing company, a mobile home manufacturing and sales company, a water well drilling company, an ammunition manufacturing company, and a pet product manufacturing & marketing company.  I have also been involved in establishing accounting and cost system programs for many different types of businesses, from a service business to a manufacturing business and several in between.

Section One – Accounting Controls

We need to understand what is meant by accounting controls, and what is necessary to assure that internal controls are being maintained by management.  Internal controls will make operations more effective and efficient, and will give reliability to the financial statements.  I am starting the book with this section on accounting controls to give the reader a better understanding of what these controls mean, and how to apply tests to assure that they being used. 

Section Two – Cash Flow

We will be looking at the individual accounts making up the “Cash Flow” problems; cash, accounts receivable, notes receivable, inventory, accounts payable, notes payable, equipment, and bonuses or dividends.    Cash flow is such a broad area we really need to study each item carefully, and therefore gain a more compete understanding of the individual cash flow problems are.   In all of these assets, having the internal controls in place makes it possible to keep the cash flow problem in check.

Section Three – Cost and Availability of Insurance

We will be looking at the individual items making up the “Cost and Availability of Insurance; the insurance survey, liability insurance, building and contents insurance, health insurance, and worker’s compensation insurance.  This section will cover three of the problems listed in the top ten; Health insurance, Cost and availability of liability insurance, and Workers’ compensation insurance.

Section Four – Energy Costs

We will be looking at the items making up “Energy Costs” problems; fuel (natural gas, gasoline, diesel, and fuel oil), and electricity costs.  This section will cover two of the problems listed in the top ten; Cost of fuel and cost of electricity.

 Section Five – Taxes and Government Regulations

We will be looking at the items making up “Taxes and Government Regulations” problems; Federal taxes, State taxes, Property taxes, and unreasonable government regulations.  This section will cover four of the problems listed in the top ten; Federal Income taxes, Property taxes, State income taxes, and Unreasonable government regulations

Since the books presentation sections are as stated above I do feel that it would be helpful to list the top ten problems facing businesses today.  I have been involved in businesses for a long time and the first six of the problems listed have been around most of my career. 

                                    Top Ten Problems

1.      Cash flow

2.      Cost and availability of liability insurance

3.      Worker’s compensation insurance

4.      Federal income taxes

5.      Property taxes

6.      State income taxes

7.      Unreasonable government regulations

8.      Health insurance

9.      Cost of fuel

10.  Cost of electricity

The above problems may have a different ranking in the various areas in the country (northeast, southeast, central, southwest, and northwest), but in general will more than likely be classified somewhere in the top ten. When the problems of a business take over, without quick action by the management team, control can be lost very easily and the “wheels of business will fall off”.

                                                                             

Scrapbooks given to me by my father

From the Forward of "Gibbon's Secrets": 

Reg Phelps, my father, started collecting pictures and stories about the war at the beginning of 1940 - thinking that it would be a collection of true to life history for me, his son, Bud.

The pleasure I get from reading about history and remembering the everyday happenings of my youth has prompted me to write this story.  I feel enriched by the heritage of my family and the love that was shown throughout my early years as a boy in Gibbon Nebraska. . .

I therefore dedicate this story to my family and friends.  Read and enjoy my enhanced remembrance of the 40's.

My first attempt at reviewing books

This will be my first attempt at reviewing books I have read, and will do so with the thought being to bring interest in reading to as many people as I can.

Reading is such a joy, and something that everyone should try as a way to not only improve their minds but a way to become a part of something beyond the comfortable chair we are in while watching TV.  You can travel or be a part of an emotional or adventurous happening - as easy as opening a book.

Gift from Grandfather Frank Phelps 

My Grandfather Frank Phelps gave me two sets of books that really started my book collection.  The first set was a 24 book collection of books by James Fenimore Cooper written in the 1800’s and the second set was a 22 book collection by Bret Harte.  I read some of these books while growing up but now have decided to start at the beginning of each set and read all of the collection.

James Fenimore Cooper Collection

I started with the James Fenimore Cooper collection by first reading all of the “The Leather-Stocking Tales” which consists of five books, and even now in the 2000’s I find them totally enjoyable.  Even though the books were not written in this order Mr. Cooper suggests that we use the life of Leather-Stocking as a guide and read them as follows:  “The Deerslayer”, “The Last of the Mohicans”, “The Pathfinder”, “The Pioneers”, and “The Prairie”.  I have enjoyed Mr. Cooper’s portrayal of the life of Leather-Stocking along with the many names given to him from the Deerslayer through the Prairie.  Since the style of writing in the mid to late 1800’s was much different than it is today, it took awhile to get in the swing of the story but once you start the series you will be comfortable with his style.  These are great stories and if you haven’t had the opportunity to read them you should at least start with “The Deerslayer” to see what they are all about.  Once you read the first book of the series I feel you will feel compelled to read the next four.

Bret Harte Book Collection

Bret Harte also wrote his books in the mid to late 1800’s as a series of “sketches”, “stories”, and “papers’.  His books covered a period of California history and therefore have preserved this time for our references.  Some of the stories that you may remember hearing about are as follows: “The Luck of Roaring Camp”, “The Outcasts of Poker Flat”, “Miggles”, Tennessee’s Partner”, “High-Water Mark”, “A Lonely Ride”, and “The Man of No Account”.  These were stories of the gold mining camps and the characters living in that time frame.  Reading these historic stories really puts you back to that period and I think you will find them most enjoyable.  Again, when you read Bret Harte’s books it may take you a bit to get used to the style, but quickly you will be back in those early days in California and enjoying every moment of it.

I will add to the review list as time permits and I just request that if you enjoy these reviews, have comments about them, or have other books you feel I should review – please contact me.  Post your comments here or email me at; bud1949@gmail.com. 

Gibbon's Secrets

Bud is lying under a large em tree with a full and showy form, turning the puffy clouds into animals or ships to pass the time of day, when he falls asleep.  Suddenly, he feels a sharp pain in his foot and cringes in fright when this ruggedly built man kicks him again.  The man, towering above him, is blonde, tall, and wide of shoulders.  He has arms like slabs of ham, and he has steely blue eyes.  He reaches down to pick up Bud, who quickly rolls over and runs out of the park, across the street to his home.  This is the start of Bud's experience with the Stranger.

Gibbon has just been through the Great Depression, and now the ugly head of World War II is here, and Bud wonders - how will we cope?  Gibbon's citizens, as well as all the citizens of the United States are shocked into this reality of World War II with the Japanese attack on Pearl Harbor.

"Gibbon's Secrets" is really a boys's memories of growing up during the 1940's and  contains many of the everyday happenings of how it was back then in this small town in the middle of Nebraska smack dab in the middle of the United States.

This book, "Gibbon's Secrets" is available on line at: Amazon, Barnes & Noble, AuthorHouse, and many of the on line book outlets - just ask for it by name:

     Gibbon's Secrets by RG Bud Phelps

Gibbon's Secrets is also available in Lincoln, Nebraska at several outlets: Barnes & Noble Southpoint, Barnes & Noble on "O" Street and the Indiago Bridge book store in the Haymarket.