A Comprehensive Guide to Successfully Selling a CPA Firm One of the first tasks of developing any strategy is to have a clear definition of what success looks like. Successfully selling a CPA firm is no different. What we hope we’ve accomplished with this column is to provide you with a high-level view of the […]
Accounting practice transitions can be extremely successful when handled with reasonable care and common sense. That said, some of the basics can be elusive in practice. Here is a discussion of five basic concepts for a successful handoff: Long transitions are almost never necessary. This is probably the biggest misconception that we encounter. You cannot hand […]
CPA practice valuations can and do vary quite a bit. The industry standard rule of thumb is “1 times gross” which is a very long-standing belief held in the accounting profession. This multiple can be very misleading without considering payment terms. Terms are a crucial consideration because extended payment terms may make the price multiple seem […]
The best clients want simplicity and trust that what you do isn’t easy. They know accounting and tax is complex and that’s why they are your client. They have no desire to do what you do….or any care whatsoever in the details of how you go about doing it. Business people want an accounting firm […]
