60: Practice Sales: The Role of the CPA

You cannot sell a dental practice without clean books. And you definitely shouldn’t buy a practice without having an accountant evaluate its potential profitability.But a good dental CPA has value beyond assisting with the basics of bookkeeping and price assessment.So, what is the full value proposition of an experienced CPA in the context of a dental practice sale?On this episode of our Dental Practice Transitions series, Dental Attorney Matt Odgers serves as guest host and interviews Wes Read on the role of a CPA in the practice transaction.Wes explains how a good dental CPA forecasts the range of profitability for a buyer, and he walks us through the process of financial due diligence in a dental transition.Listen in to understand how a CPA helps buyers make business decisions after closing and develop the mindset of a business owner to grow a financially successful dental practice.Topics CoveredAn overview of the CPA’s role in a dental transactionHow a good dental CPA assesses the profitability of a practiceWes’ approach to forecasting the range of profitability for a buyerHow Wes defines financial due diligence in a dental transactionUsing a seller’s tax returns to validate data on a P&LHow a dental CPA might coach buyers on business decisionsWhat to do as a seller if your books are not in orderWhat a buyer should expect in terms of CPA fees for due diligencePracticeCFO’s relationship with a buying dentist after closingWhat differentiates the mindset of a clinician vs. business ownerConnect with Matt OdgersOdgers Law GroupEmail [email protected] with Wes ReadPractice OrbitEmail [email protected] CFOPractice CFO on InstagramPractice CFO on FacebookPractice CFO on YouTubeResources What You Need to Know About Submitting an LOI on DPS EP003Must-Have vs. Nice-to-Have: Shaping the Terms of Your LOI on DPS EP004Practice Sales: The Role of Escrow on DPS EP010Practice Sales: The Role of an Attorney on DPS EP011Episode Promo Videos Video Promo 1Video Promo 2