A successful merger or acquisition can hinge on your CFO/firm accountant.
You work hard to build your business. When you’re ready to sell it, a good CFO can impact your bottom line. Why? A CFO keeps your financials organized. When a prospective buyer is looking at your business, seeing strong and accurate financials is key. A discrepancy could be the red flag that dissuades a buyer from sealing the deal.
Your CFO also knows the firm’s history. When a buyer or business valuator has a question on your financial history, your CFO is his first stop. Your CFO can explain why the company did what it did, what the market conditions were, and what the projections are. Your CFO may be in-house, or you may outsource these services. Either way, your CFO’s office will likely be one of the first stops on a Buyer’s list.
Finally, a good CFO is often instrumental in ensuring a smooth financial and operations transition at the point of sale. Immediately before and after an Asset Purchase, the company’s financials are re-inspected as additional reports and exhibits need to be produced for the sale. A talented CFO will be ready for the hubbub armed with the necessary reports for the completion of the sale and the transition to the new owner. Your CFO and tax planning professional will work together to properly close out your books after the sale as well.
Read more about mergers and acquisitions here. Click below to contact Goosmann Law Firm with any questions from the above.