Are Valuations Really Beneficial or Necessary at the time of Equity Exchange?

If I had a dollar for every time I was asked what an accounting, financial planning or legal firm was worth, I would be a very wealthy woman. Of course, my reply is generally, “how long’s a piece of string” or “that depends on a number of factors such as ……….”. One of the hardest Find out more…

Is it Necessary to Use a Broker to Sell your Practice?

An easy question to answer…..absolutely not! In fact, my gut feel is that the majority of professionals do not utilise a broker when it comes to selling their firms.  Why? Probably for a couple of reasons; one being the associated cost, and two being the perceived lack of professionalism, service and reputation. Many brokers are Find out more…

The Impact on Client Retention when Selling to an Unfavourable Firm

When selling a firm, most vendors say to us that they want to find a new home that will look after their clients and staff well. In essence, most parties want a transaction to be successful. We want the clients to be happy and to stay with the new provider, and we, as vendors and Find out more…

Is Your Time as Efficient & Productive as it Could Be?

This time next month we will be releasing our latest efficiency and productivity benchmarks based on the 2016 FY. In anticipation, I thought it may be helpful to revisit some of the traditional targets firms have historically utilised as well as comment on some more recent trends within this space. So, two KPIs often utilised by Find out more…

Are Valuations Really Beneficial or Necessary at the Time of Equity Exchange?

If I had a dollar for every time I was asked what an accounting, financial planning or legal firm was worth, I would be a very wealthy woman. Of course, my reply is generally, “how long’s a piece of string” or “that depends on a number of factors such as ……….”. One of the hardest Find out more…

It Must Be Business As Usual When You Are Selling Your Practice

Getting the timing right when deciding to sell your business/practice can often be difficult. There are personal, financial and emotional decisions to be made as well as pertinent business decisions and plans to put in place. Experience certainly highlights that timing is everything. An early, planned departure is far better and more successful in terms of Find out more…

Challenges Facing Practitioners on Salary Reviews

Managing personnel would have to be one of the most significant challenges for all practitioners. Today’s world is about employee satisfaction and engagement. There is the constant challenge of hiring, retaining and rewarding personnel. Questions arise around just who are the right type of employees to target for your specific firm; most importantly, being able Find out more…

Dastardly Deal Breakers Impacting Practice Sales

Irrespective of what type of professional practice is for sale, it has to be acknowledged that the process of selling is often far from enjoyable, fun or a stress free experience. We know that there are many steps within a transaction, all of which need to be mastered and managed well. We recommend that anyone considering Find out more…

The Art of Due Diligence

Due diligence, or DD as it is often referred, is an integral part of the practice sale or transaction process. For whatever reason, vendors tend to get a little tetchy around due diligence time, concerned about what the purchaser will want to review and what information they need to make available as part of the Find out more…

Extra Succession Planning for Audit Services

As most within the accounting profession will acknowledge as a concern, the number of registered company auditors (RCAs) are dwindling. While I appreciate that not all non-SMSF audits require the RCA status, we tend to find those who perform these type of audits have had a long standing involvement in this area and are typically RCAs. Find out more…

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