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Older owners and accounting professionals love their paper. They love their folders and three-ring binders. When staff accountants sign off on their final workpaper and think they’re done preparing a tax return or other accounting engagement, think again! You still have to print out all the workpapers, the entire tax return, then put hole punches […]
What’s the most difficult part of running a business? People! Clients who won’t pay their bills and employees who constantly ignore company policy are examples of individuals who can be two of the biggest culprits that can make running an accounting practice occasionally stressful. Businesses would be so easy to run if owners didn’t have […]
Minimizing risk should be as important as maximizing the sales price and terms of an accounting practice for sale. Assuming you have used our proven methods and have identified a qualified buyer from a competitive pool, whom you judge to be the right fit for your CPA practice for sale, and who appears to be […]
Assume for a moment that you are a CPA determined to sell an accounting practice. From trade secrets to customer database lists, you are about to provide potential bidders and direct competitors with a host of confidential information. Can you imagine freely handing over these critical pieces of strategic information with no protection for yourself […]
If you are serious about getting the maximum market value in an accounting practice sale, the most important task is finding the right buyer. There are a myriad of criteria you should look for in an accounting practice buyer. This subject has been discussed in depth at the following link: https://accountingbroker.com/5-questions-for-prospective-buyers-accounting-firm-sale/ However, there are CPA […]
One of your jobs as a CPA is to be a strategic advisor. You advise your clients on how to be prepared with the right documentation, details and records to protect and even maximize the monetary value of their personal and business financial activities. This is one of the skillsets you will need to utilize […]
If you are selling your CPA practice or firm, or even just thinking about it, what is most likely of paramount importance to you is finding a qualified buyer who is a great fit for your practice while receiving maximum value and maximum cash at closing. You are likely thinking: “Right. Well tell me something […]
Like a good marriage, two companies can combine and become more than the sum of their parts. Many factors go into a successful merger, including senior teams that can work well together, shared values and an understanding of each other’s business culture. Employees, stock owners and other stakeholders also need reassurance along the way as […]
Most people have heard the stereotypes about millennials – that generation born after 1980. Lazy. Narcissistic. Disloyal. Entitled. Only interested in positive feedback. They care more about money than meaning, and are married to their smartphones. But is this true? And what if a millennial wants to buy your CPA firm? Should you sell your […]
Whenever Accounting Broker represents the seller of an accounting practice, we coach that seller to have non-compete agreements in place with the accounting practice’s employees. This helps to protect the practice from employees leaving and taking clients of the firm with them when they leave. Without non-compete agreements, a potential buyer of the practice would […]