Take Your Bookkeeping to the Next Level

Excelsior Growth Fund
March 30, 2018

Once your business is up-and-running and you’ve mastered basic bookkeeping concepts, you’re ready to take your understanding to the next level. Our Business Advisory Services team has compiled a few bookkeeping practices that will support your growing business. With these tips, you’ll be ready to:

  1. Leverage technology to integrate and automate bookkeeping processes and systems to save time and money
  2. Gain a better understanding of the balance sheet and how it impacts cash flow
  3. Make better business decisions based on accurate and timely financial statements

Work with your accountant to implement these practices and start moving your business toward even greater financial success.

Link: CPA Growth Guides Blog

CPA Growth Guides website

CPA Growth Guides was founded in 2015 by Katie Tolin, an award-winning and nationally recognized accounting marketer with nearly 20 years of experience of professional service marketing with local, regional, super regional and national firms. Building upon her in-the-trenches experience, CPA Growth Guides helps firm leaders map out a Growth & Profitability Strategy (GPS), implement as needed and troubleshoot roadblocks, detours or delays encountered along the way.

CPA Growth Guides shows accounting firms how to achieve profitable growth. Whether you’re looking for a little guidance to point you in the right direction or for someone to walk the path with you, we focus on leading firms to growth and profitability.

Link: How to Value a CPA Firm for Sale

Journal of Accountancy
November 1, 2013

Published on November 1, 2013, this article provides guidance on valuing CPA firms and ownership interests in CPA firms.  The article was published by the Journal of Accountancy as part of their series on succession planning in the public accounting industry.

The authors identify four (4) factors that ultimately determine the multiple of billings used in figuring sales price, as follow:

  1. Cash Upfront, if any
  2. Retention Period (Length)
  3. Profitability (for the buyer based on deal structure), &
  4. Duration of the Payout Period

Link: Your Personal Brand Workbook

PricewaterhouseCoopers

PWC created a useful tool to help you define your personal brand.  The topic of “personal branding” is rampant in our business environment, but I didn’t know how to truly define mine until utilizing this tool.  It’s a great resource.