80 Years of Service (1939 - 2019)
Robert B. Krost Public Accountant is established in Pasadena in 1939
KROST, formerly Robert B. Krost Public Accountant, was established in 1939 by Robert B. Krost, who previously worked in the accounting offices of Lockheed Corporation. Venturing out to create his own firm he established many key contacts to help his clients through the various tax rules and regulations of the time. Some of these were with local IRS office managers and the head of the State Board of Equalization. Needless to say, these contacts were very important in resolving various tax issues for his clients which helped him grow his practice.
Robert B. Krost & Associates
After establishing a partnership with R. H. Redmond & D. H. Tronvig, Robert B. Krost Public Accountant became Robert B. Krost & Associates.
Robert B. Krost & Company
After a new partnership with Chester Chan, Robert B. Krost & Associates became Robert B. Krost & Company.
Office Moved and Second Office Opened
Office moved to 53 S. Euclid Av., Pasadena and a second office at 117 E. Colorado Blvd.
John Krost is Promoted to Partner
On January 1966, John Krost receives his CPA License and becomes the second person to be promoted to partner at Robert B. Krost & Company, joining his father to lead the practice.
Computer Technology & Automation
“At the beginning of the computer age (late 60’s) the firm saw the benefits that automation could provide to their clients and to the office. They installed one of the first automated accounting systems (Monrobot), which was a punched tape to tape system that created the general ledger and financial statements from tape machines reading to electric typewriters. As technology improved the firm upgraded to a minicomputer (Basic 4), a big improvement over the old tape to tape machine. Once this system was installed the firm was fully automated to handle all their clients accounting needs, in fact, we were the first accounting practice in the Pasadena area to be computerized.” — Rick Krost
Moved office to 110 So Euclid Ave. Ste. 100.
Suite Change After Tremendous Growth
After just one year, Robert B. Krost & Company outgrew Ste 100 and moved upstairs to Ste 200 with three private large offices, a separate reception area, and a computer room.
New Addition to the Firm
Rick Krost is now working for the firm.
Upgraded to a Mini Computer System
Robert B. Krost & Company outgrew the Monrobot and moved to a true Mini Computer system. The new basic four system offers removable electronic disk data drives and Accounting, Payroll & Accounts Receivable programs. The software is a basic language easily learned.
First Merger: Krost Russell and Company
In 1974, Robert was planning his retirement, so John and Rick decided to grow the firm. They purchased a well known and respected firm, William Russell and Company, along with the building the firm occupied at 719 E. Union Street in Pasadena. The firm, now doubled in size, changed its name to Krost Russell and Company.
A New Payroll System Leads the Way as the Firm Becomes the Premier Service Provider for Restaurants
The firm had a strong base providing services to restaurants in and around the Pasadena area. In the 70’s restaurants had unique rules for how to pay their employees. The firm leadership saw a need for a specialized payroll system to be able to accommodate these unique rules, so a programmer was hired to develop a proprietary payroll program to solve the problem. Once this program was complete the firm began offering specialized payroll for restaurants and other companies outside the industry. This service became very popular with KROST’s entire client base and was one of the reasons the firm became known as “restaurant specialists.”
Name Changed to KROST, KROST and Baumgarten, An Accountancy Corporation
In 1981, the firm changed it’s name to KROST, KROST and Baumgarten, An Accountancy Corporation.
Name Changed to KROST, Baumgarten, Kniss & Guerrero, An Accountancy Corporation
In 1995, the firm changed it’s name to KROST, Baumgarten, Kniss & Guerrero, An Accountancy Corporation.
Pasadena in the 1940s Source: Samhuddy at English Wikipedia. [CC BY 2.0], via Wikimedia Commons
Monrobot Image Source: Balistics Research Lab [Public domain], via Wikimedia Commons
Hawaiian Beach Source: National Archives at College Park [Public domain], via Wikimedia Commons