Should I use an LOI?

The quick answer is…No. At first blush, the Letter of Intent would seem like a good idea. It allows the buyer to demonstrate to the seller that they do indeed intend to purchase. It also lays out the general terms of the deal. These would both seem like clear positives. However, we find the step […]

Xero Ben Richmond

Cloud accounting with Xero’s Ben Richmond (podcast)

  Did you know that currently in the U.S., only about 10% of firms are cloud-based; whereas in Australia and New Zealand the rate is around 50%? Also, did you know that cloud firms typically sell for much higher multiples than traditional firms? Why is that? Listen in on Brannon’s conversation with Ben Richmond, who […]

Anna Liotta

Generational Differences with Anna Liotta (podcast)

This week, Brannon sat down with Anna Liotta for a podcast you DO NOT want to miss! This isn’t your typical accounting podcast, as they discuss generational differences in the workplace and the importance of understanding them to run a successful company. No wonder Fortune 500 companies keep bringing Anna back to talk about generational […]

Accounting Firm Value Multiple

Why Accounting Firms are Valued on a Multiple of Revenue

Why are accounting firm values based on a multiple of annual revenue instead of a multiple of annual cash flow to owner? “Accounting practices are worth x times gross revenue.” This is a belief that permeates the accounting profession as strongly as anything we have seen. This has been true for a very long time, […]