CLIENT SERVICE OPPORTUNITIES Archives - Page 5 of 93

Seven Keys to a Complete Succession Plan

September 13, 2023

Your client probably hasn’t considered them all.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

Clients who own businesses should have a plan of succession.

One plan should be for when and how they will retire, and another for if they should die while they are in full control of the business. Things happen and will happen and can be devastating to the family – financially and emotionally.

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Helping a client develop a succession plan can be a valuable good deed for the family as well as providing a great feeling of comfort for the business owner. Advising on how to transfer stock to successors or the next generation always represents additional services.
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50 Ways to Create Value for Business Owners and Board Members

September 11, 2023

By Edward Mendlowitz

Why a valuation should be performed on a regular basis.

By Ed Mendlowitz
77 Ways to Wow!

Here we’ll identify 50 ways that a valuation professional can provide something far more valuable than a number. While the valuation profession is under pressure to reduce costs or prepare a report, the business owner is better served in the long run retaining a valuation professional who provides greater insight to operations.

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The true market value of a business is only determinable when it is sold to an independent buyer – and even then, it is only for that time with that buyer. However, there are many reasons for valuing a closely held business that can provide valuable insights to the owner; these same reasons also underscore how credentialed professionals add value to business owners and board of directors. These are also not commodity services that warrant a low fee.
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How to Begin a Business Valuation

September 6, 2023

By Edward Mendlowitz

Includes a sample preliminary document request.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

Business valuation is performing appraisals of businesses for many uses and reasons.

Forensic investigations relate to disputes that are in or will lead to litigation.

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Who needs this service

This service is for anyone engaged in litigation or where the value of a business is an issue, such as partnership and marital dissolutions. Also, valuations are necessary in many instances where there are tax-motivated transactions, particularly in the gift and estate tax arena and employee compensation situations.
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What Earnings Mean for a Business Valuation

September 4, 2023

By Edward Mendlowitz

Why EBITDA falls short.

By Ed Mendlowitz
77 Ways to Wow!

Earnings are not always objective, and valuations apply a multiple to earnings to determine a company’s value. The elements making up a company’s valuation involve determining normalized earnings, a decision whether income taxes would be applied, and the capitalization rate to be used to get the value. There are also other factors, but this post looks at the quality of earnings.

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It is always about the earnings – except when it isn’t. There are some situations where a company could be acquired based upon strategic, synergistic or ego considerations, but otherwise, valuation all boils down to a dependence on earnings and the quality of such earnings.
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Heather Satterley: You’ve Got to Meet People Where They Are

September 4, 2023

By Liz Farr

Stop saying yes to everything and start saying yes to yourself.

Subscribe to CPA Trendlines podcasts anywhere: Apple, Google, Spotify, iHeart, Deezer, Amazon Music and Audible, Player FM, Audacy, Gaana (India), and Boomplay (Africa).

The Disruptors
With Liz Farr

Heather Satterley is well-known for being an accounting tech expert. But tech isn’t the only skill accountants need today and for the future. “You can have great technology skills, but if you don’t have people skills and those softer skills, that’s going to be a problem,” she said.

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One of those softer skills that will be a key skill for the future is problem-solving, which requires keeping an open mind to “look at not just facts and figures, but look at tools, resources, people and pull them all together,” she explained. No one can be an expert at everything, so having “a wide network of really awesome professionals” is vital for filling in any gaps “to get the job done.”

Are You Ready to Become a Data Analyst?

August 30, 2023

By Bonnie Buol Ruszczyk

The right dashboards can optimize your data … and your value.

By Bonnie Buol Ruszczyk

Business leaders are constantly called upon to make snap – yet important – decisions. Yet, poring through spreadsheets, reports and financial statements can be a laborious and time-consuming process, especially for those who need to act on urgent matters.

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This is where data visualization tools can be a tremendous boon to organizations. Automatically pulling from various data sources, these cloud-based, interactive dashboards present business data visually using charts, graphs and other widgets. Once designed, these repositories save precious time for analysts, managers and key decision-makers, allowing them to focus on the information and analysis rather than on the grueling process of gathering it and creating reports.

Stop Sending the Wrong Message to Audit Teams

August 30, 2023

By Alan Anderson

Audit is becoming further commodified.

By Alan Anderson
Transforming Audit for the Future

Instant download:
“The New Manifesto for Accountants.“

The value of what we provide to clients has declined until it has become a commodity. That, in turn, drives our fees down.

The lack of innovation means that our clients can’t tell the difference between the audit we do and one done by the firm down the street. None of them provide relevant information or any value to our clients.

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If our clients don’t see the value, then the audit is only being done to meet a regulatory or banking requirement, and in that case, the cheapest option that meets that basic requirement is the one they choose.

How to Help a Client Start a New Business

August 30, 2023

By Edward Mendlowitz

Of course there’s a checklist … with 64 items to consider.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

Many clients start small businesses and some grow into big businesses. Anyone starting a business needs assistance at the beginning from an accountant on choosing an entity, determining the initial capitalization, getting an identification number and setting up the books.

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Services also related in this area are buying a franchise, entering into a partnership and structuring investments. All proposed transactions by clients should be reviewed by an accountant for the tax consequences of such activities.
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