my years of experience helping successful entrepreneurs, combined with my research and interviews with experts in the area of successful business exits, have helped me to identify five key financial challenges that must be addressed by entrepreneurs who are planning to cash out of their businesses.
the objective is to help business owners make a smooth and successful transition from where they are today to where they want to be post-exit.
let’s look at five of the top challenges in more detail. read more →
success is a perception that varies with individuals. for control freak entrepreneurs, feeling successful is a big deal and if we can help them feel more in control and thus more successful, then we are well on the way to them seeing us as indispensable. read more →
mutually agreed transparency, high-quality and considered communication, striving for two-way benefits and correctly framing the relationship will create the desired beneficial outcomes in that relationship. such terminology can appear lacking in empathy, but these factors translate into an improved business and personal relationship. read more →
the review can follow the annual financial report or precede when budgets are being put together. the annual strategic review articulates and confirms your strategic role. and make no mistake, the annual strategic review delivers a process to secure recurring fees and upon which to hang your advisory hat. the client receives a copy of the plan and then the fun starts when you support them in the implementation of their plans, one project at a time and one action at a time. billable time. read more →
every firm that is serious about advisory services needs one client-facing advisory process that you can articulate to the market, but that is also consistent with how you deliver advisory services and of course operate internally. there is no need to “customize” the advisory process based on the client.
the value in advisory services is not just in fees from strategic reviews but from all of these services, and often the fees from consulting can be very significant. for this reason, your advisory services need to be structured and not ad hoc. it is important that you have an articulated, repeatable advisory process, which must be client-facing, not just a list of technical services. read more →
kei morita is a principal in the los angeles office of holthouse carlin & van trigt llp.
with the war for talent at a fever pitch these days, stock-based compensation (sbc) is one of the most effective ways for private companies to attract and retain valued workers. it’s also a very effective way for early-stage companies and other private entities to preserve cash flow while allowing key employees to share in the company’s growth. but the sbc accounting rules and calculations can be very complex.
while fasb and the private company council (pcc) issued guidance late last year to make it somewhat easier for private companies to account for share-based awards, many challenges still remain. if you’re a cfo, controller, treasurer, hr director or another stakeholder in a privately held company – or have clients that are privately held companies – it’s critical to follow the sbc accounting rules correctly. read more →
brian coddington is the director of tax accounting methods and credits in the fort worth, texas, office of source advisors.
cost segregation is a highly beneficial and widely accepted tax compliance strategy utilized by commercial real estate owners and tenants to accelerate depreciation deductions, defer tax and improve cash flow.
geraldine carter is on a mission to make accounting more attractive as a profession, and to make accountants more profitable, particularly soloists and small firms.
in this episode of the disruptors with liz farr, carter explains the trouble with “orphan 1040s,” how to “level up” your firm, the priceless value of emotional intelligence, and why giving your all is too much (80 percent is enough.)
with accounting talent so scarce, tax and accounting firms may be surprised to find untapped talents within their current staff, according to tyler anderson, partner and director of a&a innovation at accountability plus.
cas revenues are surging 20 percent, but profits are lagging. discuss.
growth in client accounting services appears to be accelerating, but the expansion may underlie simultaneous growth in personnel turnover and trouble in the pipeline of professionals, according to new research.
the new benchmarking study found a burgeoning median growth rate of 20 percent, nearly double the rate of 2018. net client fees per professional shot up by 17 percent to average $112,293 as cas practices continued to move toward fixed fee and value billing methods.
and apparently, profits could have been even higher.