Satellite CPE: Buying/Selling a Business
On Aug. 16, ACPEN will present a special, one-day satellite broadcast called 'The CPA's Guide to Buying and Selling Businesses'.
Speakers for the day include Michael Nall, CPA, executive director of the Alliance of M&A Advisors, who says 'there are several million private businesses needing the services of CPAs and other professionals who can envision, negotiate and manage efficiently the sale and purchase of a business. Providing these services is a valuable adjunct to a traditional accounting practice.'
It also is imperative that CPAs on the staff of companies understand the process and intricacies of mergers and acquisitions practice. In addition, according to Nall, a real benefit of learning more about this topic rests with a potential income stream.
'Now that CPAs can accept commissions in 42 states, this topic becomes much more tangible and real,' he says. 'For example, the first firm we worked with in the San Francisco bay area generated a fee of over $275,000 for assisting in the imitation and completion of a sale project for a client that they were likely to lose anyway. This turned out to be 10 years of the annual fees from the client.'
A panel of national experts who have completed hundreds of sales of businesses, representing both the buyer or seller, will be on hand to lend their opinions. The session is intended for the small- to mid-size business transactions that CPAs everywhere are likely to see in their practice.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.