Gary I. Istanboulian, President
CPA, an Accountancy Corp.

What you do: I provide accounting, consulting, income tax preparation, and tax, retirement and financial planning services to small businesses and individuals in our area. I help my clients develop plans to help them achieve their financial goals, to provide for their children’s education, and maintain their standards of living during retirement. I’ve been fortunate to have been able to start my own business more than 30 years ago in Fresno and worked with many of the same clients for decades.

Education: I earned my Bachelor of Science degree (B.Sc. – Agriculture) in 1979 from the University of Guelph in Ontario, Canada. I earned my Master of Business Administration degree (MBA – Accounting / Finance) at McMaster University in Hamilton, Ontario, Canada in 1981. I earned my Certified Public Accountant license after I moved to Fresno in 1981.

Age: Let’s just say that a few months ago I graduated from being in my 50s.

Family: My wife of 32 years, Flora, and I have two daughters, Ani and Alene. Flora is an attorney-at-law in Fresno; Ani is the marketing and PR manager at NYX Cosmetics in Los Angeles; and Alene works in development and PR at the EPU Children’s Center in Fresno.

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What made you decide to go into accounting, Gary?
Numbers have always made sense to me. Managing incomes, planning investments, and keeping proper records of finances are critical to everyone in society. I enjoy working with the complexities of money management, tax, retirement, financial planning and investments and helping my clients make the right decisions.

How did you go from working as an accountant to starting your own accounting firm, Gary?
I spent a number of years working for some of the most respected accountants in Fresno until it was time to focus on clients’ complete financial needs. Moving from a staff accountant to establishing my own accountancy business was a natural transition. Once I was out on my own, I was able to focus better on clients’ overall needs and not just certain aspects of their financial well-being. It was more rewarding to advise clients on taxes as well as savings, retirement planning, investing, and business consulting.

Describe the industry today. Has the role of a CPA evolved over the years?
Just as the internet has changed all of our lives, it’s had both a helpful and hurtful impact on accounting. There are volumes of good and bad information out on the web. It’s very hard for a non-tax professional to know and assess fact from fiction. Today, just knowing the laws and professional standards may not be sufficient enough. I have to stay on top of not just the new information, but the misinformation being published on the internet to help my clients avoid relying on incorrect data when making important tax and financial decisions.

Tell us about Gary I. Istanboulian, CPA, An Accountancy Corporation: How many accountants work at your firm, what types of clients do you serve, etc.?  
For most of the year, there’s one CPA and one staff accountant. But when quarterly or annual tax deadlines are around the corner, I hire contract CPAs to make sure all of my clients are serviced in a timely and professional manner. Among my clients are professionals like doctors, dentists, engineers, and lawyers. My clients also include small businesses like farmers, technology retailers, mini-marts, trucking companies, restaurants and dry cleaners. Other entities I cater to are nonprofits, churches, estates and trusts. I also have out-of-state clients and clients who work overseas but live in California, so I also have to be well-versed in multi-state and expatriate tax issues and returns.
 
What is next for the company; what are your goals?
I’m always keeping up with new software and operating systems in order to serve my clients best. The information age and the continuously increasing power of crunching numbers with computers is making us savvier in keeping track of our clients’ plans and monitoring progress. It’s exciting to see developers release new software that gives us and our clients an edge over how things were done in the past. My goal is to always keep up with the most efficient methods, with which I can create plans to meet and exceed my client’s’ financial goals.

What was the best advice you ever received and who did it come from, Gary?
The best advice I have ever received came from one of my accounting professors at McMaster University, Dr. Sanjoy Basu. He said: “Treat every client as if they were your only client.” I apply this to not only my clients, but to other aspects of my life as well. I believe we are most successful in life when we are fully present and committed to whatever we are doing.

Who or what has been the biggest influence on your career?
My late father, Alexander, played the biggest role in shaping my life. He was a teacher when he lived in Lebanon, and opened IZI Deli in Sunnyside after moving to Fresno. His successful run of a business late in life taught me that customers appreciate quality. My father provided his customers with great food and service, and they remained loyal to him for over two decades. I try to emulate his dedication to his customers, students, community and church every day.

What are your roots in the Central Valley, Gary?
I am an active member of many philanthropic organizations in the Central Valley including the  Fresno Sunrise Rotary and the Fresno Masonic Lodge. I am currently serving as the president of the Knights of Vartan, an Armenian fraternal organization. I have previously served as president of the Society of California Accountants, as a board member of the Armenian Community School of Fresno, the Holy Trinity Armenian Church, where I also served as a deacon, and Fresno Lodge #247. I have taught computer science at California State University, Fresno and at the Armenian Community School of  Fresno, and I have been active with local media, serving as a live expert on KSEE TV 24’s Central Valley Today program and KMJ News 580, especially during tax seasons. I also hosted a weekly Armenian music and news program on KIRV AM during the 1990s.

What was your first job? Describe something you learned from that first job, Gary?
My first job was helping my dad pick apples, grapes, and pears on our farms in Anjar, Lebanon. I also worked for my uncle as a clerk in his farming supplies store, selling fertilizer and pesticides to the farmers of our town. My father and uncle taught me that hard work and attention to detail are imperative, no matter what the task. I was paid $0.50 per hour.

What do you like to do in your spare time, Gary?
I am trying to develop golf as a hobby, but I am finding it to be a lot harder than it looks on TV. I enjoy spending time with my family in my spare time — I have three brothers and 18 first cousins; so there’s never a dull moment with our large extended families.