For Accountants’ Post

Four Lessons From SMBs And Accounting Firms Every Entrepreneur Can Benefit From LINK: https://lnkd.in/ehRG4Gc9 #BankingAndFinanceNews #MergersAcquisitions #MA #MandA Please Repost

📣📣 When I started my accounting firm my vision was to not follow the traditional partnership structure. Most people would think that’s a selfish or arrogant approach. However, I disagree, and here’s three reasons why…. ✅ Refer to the article below, big time accounting firms are bringing on private equity investments. They are doing this as the lonnnngggg partner track is not as appealing to a majority of the employees anymore. ✅ 80% of CPAs are 10 years or less from retirment age. This means there are no backfill of cpas. How does this impact the industry? Does this mean that 10 years from now every cpa makes partner..? ✅ Lastly, I worked for The Siegfried Group for a short time and the structure of the business was an inspiration to me. One CEO took a traditional accounting firm to a $350M company (revenues from 4 years ago) im sure revenue is much higher today. Although I believe their current business model does not qualify as a public accounting firm their sister business Siegfried Advisory does, and with the same non-partnership structure is growing just as fast. Visions and goals are subject to change, I guess we will just wait and see if mine does.

Four Lessons From SMBs And Accounting Firms Every Entrepreneur Can Benefit From LINK: https://lnkd.in/eE2bSg62 #BankingAndFinanceNews #MergersAcquisitions #MA #MandA Please Repost

Accounting firms are continuing the trend of creating more and more non-equity partners. They get "the opportunity for more responsibility, more autonomy and more money", but without the ownership. So far, it's led to higher retention, more room to move up, and more space for additional customers. How do you feel about making someone a non-equity partner? What's the deciding factor in the equity portion? #partners #cpa #business

Accounting firms are continuing the trend of creating more and more non-equity partners. They get "the opportunity for more responsibility, more autonomy and more money", but without the ownership. So far, it's led to higher retention, more room to move up, and more space for additional customers. How do you feel about making someone a non-equity partner? What's the deciding factor in the equity portion? #partners #cpa #business

There are a number of reasons why you may need to close your limited company. This could be because the company structure no longer suits your needs, your business is no longer active, or the company is insolvent. You will usually need the agreement of all the company’s directors and shareholders to close down a company. #CompanyLiquidation #LimitedCompany

OH NO !?!? Accountants “America's most boring job is on the brink of extinction” Who will help people owning, buying, and selling SMBs when it comes to the numbers? It’s been pretty bad with the DIYer owners/employees using spreadsheets, but what will it be like later? AI to the rescue?   “Meanwhile, longtime accountants' ranks are dwindling fast: Three-quarters of CPAs in the US were thought to be at or near retirement in 2019.” (5-years ago, which explains my marina neighbors using their boats more.)   https://lnkd.in/exzRZJBx   #acquisitions #bestadvice #business #businessbuyeradvocate #businessintelligence #businessowner #businessvaluation #cashflow #corporatefinance #duediligence #entrepreneurship #management #mergersacquisitionsdivestitures #smallbusiness #sme #sba7a #tedleverette #sellingyourbusiness #exitplanning #creativefinancing #qualityofearnings #searcher #cpa

Over the past 18 months I've helped quite a few firms with succession, something I love doing to help the next generation come through to lead. Here are some things to consider. https://lnkd.in/gsJFAnSF #accountingandaccountants

Grant Thornton Is Now the Biggest Accounting Firm to Get Private-Equity Backing. The firm’s Chicago-based U.S. unit closed a deal led by New Mountain Capital that creates a new limited liability company for non-audit services. The transaction is subject to regulatory approval and other standard closing conditions. Following the closing of the transaction, which is expected in the second calendar quarter of 2024, Grant Thornton will operate in an alternative practice structure: Grant Thornton LLP, a licensed CPA firm, will provide attest services — and Grant Thornton Advisors LLC will provide business advisory and non-attest services. This is the second private-equity investment in a top 10 firm in 2024 and the fifth involving a top 25 firm in the last two years. In February, top 10 firm Baker Tilly US LLP announced a deal with private-equity firms Hellman & Friedman and Valeas Capital Partners. In 2022, top 25 firms Cherry Bekaert LLP and EisnerAmper LLP announced deals with private-equity firms around the same time that New Mountain Capital made an investment similar to the Grant Thornton deal by purchasing majority ownership in top 25 firm Citrin Cooperman. Allan Koltin, CPA, CGMA, head of the Koltin Consulting Group in Chicago, told the JofA last year that more than half of the top 20 accounting firms were in "some type of transformative discussion." In that JofA article, Barry Melancon, CPA, CGMA, the CEO of AICPA & CIMA, said in a written statement: "The fact that private equity is interested in the profession is a statement about the importance of the profession. That's a good third-party validation. We are seeing lots of private-equity activity but also tremendous numbers of traditional merger deals among firms. This demonstrates choice and different approaches for firms, which is always good as long as the focus on quality remains paramount." However there are questions that need to be addressed such as potential conflicts of interest and this will be a on-going discussion within the industry that needs to be disclosed, transparent and implemented with the highest degree of responsibility, ethics and quality of audit / analysis. For more of Melancon's analysis, read the transcript or listen to his recent JofA podcast interview - https://lnkd.in/en2AFVxn #privateequity #auditors #alternativeinvestments #grantthornton #accounting #newmountaincapital #bakertilly #privatecredit Please see more details here - https://lnkd.in/ecAAG_PJ https://lnkd.in/eyVpG7HF https://lnkd.in/eBqSJUen https://lnkd.in/eEnkQ96V https://lnkd.in/eDWthNpx

REDW Advisors & CPAs are continuing their strategic growth by acquiring Hatcher Financial, a move that not only enhances REDW’s capabilities, but also expands their expertise in serving clients across diverse industries. Read more about this strategic expansion here: https://lnkd.in/gduZmbDt #Acquisition #Growth #Accounting #TeamSuccess #StrategicExpansion