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M&A Talk (Mergers & Acquisitions), by Morgan & Westfield
For Sellers: The Role of Your Accountant in the Sale of Your Business
Sep 6, 2024
John Hannum, a fractional CFO, shares valuable insights on how financial professionals can significantly impact business growth and sales. He explains the distinct roles of accountants, controllers, and CFOs, emphasizing the importance of clean financials for maximizing company value during sales. Listeners learn about the strategic advantages of hiring a fractional CFO, common pitfalls sellers face, and key preparatory steps for a successful business sale. Hannum's expertise helps clarify why proactive financial leadership is essential for entrepreneurs navigating M&A.
59:14
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Quick takeaways
- Maintaining clean and well-organized financial records is essential for maximizing a business's value during the sale process.
- A fractional CFO plays a crucial role in aligning financial strategies and enhancing a company's valuation prior to selling.
Deep dives
The Importance of Clean Financial Records
Many businesses fail to recognize the value of clean and well-organized financial records when preparing for a sale. Messy books can leave substantial value on the table, as potential buyers may struggle to understand the company’s finances clearly. Entrepreneurs often miss opportunities to present a compelling financial narrative about their businesses if their accounting is not in order. Proper financial documentation and operational reporting are crucial for demonstrating the viability and worth of a company during the sale process.
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