Stanfield & O'Dell dates back to October 1, 1952, when its founders, Messrs. A. G. Stanfield and S. F. O'Dell, formed the partnership. Prior to formation of the partnership, Mr. Stanfield had been practicing as a sole proprietorship that he had established in 1948 after resigning from the Internal Revenue Service. Mr. O'Dell was a staff accountant with another local firm of accountants, and prior to that time, had been employed for approximately ten years by Ernst & Ernst.
It was the intent of the original founders of the firm to blend the tax knowledge and experience of Mr. Stanfield with the audit and financial statement preparation knowledge and experience of Mr. O'Dell. Their original goals were accomplished, and since that time the firm has expanded into the Management Consulting Services area and has established a Client Accounting Services department, in addition to the original Tax and Audit departments.
In 1961, the firm acquired its first additional practice unit located in Lawton, Oklahoma. This practice was organized as a separate, autonomous unit of the firm. Additional practice units were acquired in 1968, 1973, and 1978 in Oklahoma City, Hot Springs, Arkansas, and Duncan, Oklahoma, respectively. Each of these practice units was organized as a separate autonomous unit of the firm.
During the period from 1980 to 1984, the accounting profession began experiencing major changes. Stanfield & O'Dell changed also. Significant realignments of long-standing philosophies occurred in those years, including:
· Adoption of a one firm concept - a single management body was formed and methods of sharing expertise or personnel were explored.
· Adoption of new practice philosophies - in order to produce high-quality and expanded services, the firm must attract and retain excellent personnel. This commitment required recognition that, while our fees were not the highest, they could also not be the lowest. New offices were constructed and furnished. An expanded continuing education program was established. Specialization of personnel in highly technical practice areas was adopted.
· Adoption of a new growth direction - the offices that could not contribute to the firm's new practice philosophies were sold and an emphasis on growth of the Tulsa and Lawton offices was adopted.
In 1990, the Firm acquired a practice in Owasso, Oklahoma. Today, Stanfield & O’Dell has over 50 employees and 5 shareholders in 2 locations and has celebrated its 56th birthday on October 1, 2008.
