Descripción
Most professional service firms prepare financial statements for a variety of
purposes. The first – and obvious – purpose is to tell the partners of shareholders
about the profitability and financial condition of the firm. A second important
purpose may be to communicate key information to the firm’s lender(s) and/or
landlord(s). A third purpose is to serve as the basis for preparing the firm’s income
tax returns.
Accountants prepare financial statements according to one or more common sets of
rules, depending upon the purpose at hand. For example, financial statements used
to communicate with partners or shareholders are generally prepared in accordance
with rules known as “Generally Accepted Accounting Principles” (GAAP). The tax
authorities have their own set of reporting rules that differ from GAAP rules. Finally,
banks and landlords may only be interested in comparing selected data with
covenants in loan agreements or leases.
When we consultants conduct financial due diligence as part of merger/acquisition
discussions, we often have to depart from GAAP or tax accounting rules to restate
financial statements to reflect true economic values. This Webinar will cover ten
frequently-encountered situations that are not typically reported in professional-firm
financials but can have a material effect on the financial condition, inherent
profitability and/or credit-worthiness of the firm in question. In the Webinar, Peter Giuliani will discuss each of the “Ten Time Bombs” that are
most often encountered in merger/acquisition situations. He will identify them,
analyze them and suggest how they might be dealt with in the normal course of
financial reporting and merger/acquisition situations.
Who should attend?
This webinar is directed at managers, CFOs and leaders of professional firms who
may be considering a merger or acquisition or who simply want to improve the
quality and candor of information they provide to their partners or shareholders.
What you will receive:
Comprehensive set of PowerPoint slides and pro forma analyses.
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