Succession planning is the accounting profession's ticking time bomb. Brought about by the simultaneous impact of aging Baby Boomer partners, a constant shortage of staff with partner potential and accounting firms' tendency to relegate succession planning to the back burner that has created “merger mania” within the industry. With the flood of tax law changes and stimulus programs brought about by the global pandemic, accounting practice owners have had a convergence of events that have created the “perfect storm” for mergers, practice sales and contingency planning. Industry observers regard succession planning as the profession's #1 endemic challenge - and it's going to get worse before it gets better.
Factors to be addressed in this class will include facilitating mergers and acquisitions including identifying and meeting with prospective partners and structuring the deal, corporate culture, evaluation of industry key performance indicators, due diligence, valuing the practice, closing and transition. Additionally, development of contingency plans for death, disability and disaster will be discussed.
Lombardo Ayers & Company
Number of Hours:
Knowledge of Practice Management Techniques
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Early Cut Off Date: