CAREER STAGE: Mid
NOTE: This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Learn how to buy or sell an accounting practice.
This CPA Ontario course is for CPAs who are looking to buy or sell an accounting practice. The seminar is designed to guide participants through the entire process of practice transition. Buyers will learn key markers of a successful practice, concerns of the seller and how to smoothly transition into the new role. Sellers will learn about developing transition plans, pitching their practice and purchase agreements.
Key topics such as technology, billable rates, types of clients and staffing will be explored. The course will consider current trends in the profession, and compare the differences between a merger and a direct sale. The valuation process, how to assess risks, and the use of earnouts will be covered, as well as taxation of a practice transition based on the sale of shares vs. the sale of assets. Finally, the seminar will summarize the ethics considerations of technology and communication with clients.
Polls and breakout rooms are used throughout the course to encourage discussion of the topics.
Participants should have a general knowledge of practice management. A minimum of three years public practice experience is recommended.
- Identify the key elements of a successful practice and current trends in the profession
- Recognize the main drivers of practice valuation
- Distinguish the risks inherent with the transition
- Identify taxation issues and key issues regarding client retention
- Review ethics considerations
WHO WILL BENEFIT
CPAs looking to buy or sell an accounting practice.