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12min chapter
For Sellers: The Role of Your Accountant in the Sale of Your Business
M&A Talk (Mergers & Acquisitions), by Morgan & Westfield
Preparing Financially for a Business Sale
This chapter explores the crucial role of financial management in the lead-up to selling a business, emphasizing the need for rigorous income maximization and financial record cleanup three years prior to the sale. It highlights the importance of having a CFO and conducting thorough financial due diligence, focusing on accurate financial statements to enhance company value. Additionally, the chapter discusses common accounting pitfalls and stresses the significance of financial controls in the due diligence process to ensure a successful sale.
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