Growth and Transition of Business: Focus of New Certificate Course

The tax filing deadline for proprietors is midnight June 15; this is also a great time to discuss transitions for growth with owner-managers: incorporation or transition to the next business owner.

Knowledge Bureau has published a new course to help: Accounting for Business Growth and Transition is now available for online training, part of the MFA – Business Services Specialist Program™.

The objective is to ensure that growth initiatives and business transition will be less onerous for advisors and clients alike. In the end, the numbers themselves should tell a compelling story: what’s best for the business, the business owners and the entire ecosystem dependent on them. Providing real value, therefore, is about generating advice and benefits for clients well beyond the numbers. Whether you are a tax or accounting professional or a financial advisor, you can benefit from the knowledge imparted in this course.

WHAT’S NEW: The focus of this course is to help professionals recognize the opportunity to plan proactively, to take action in business growth activities and to participate in decision-making about the longer-term future of the firm, including:

• Steps an accounting department should take to have the necessary financial records and results on hand in advance of a business transition
• Understanding the due diligence process; what buyers and sellers need, and how to achieve a managed result to the right conclusion: continued growth under the status quo or new growth within a transition
• How to support a business leader prior to, during, and after a transition
• Understanding the strategic mindset so often displayed by business leaders and how the accounting function can take steps to add value, in both day-to-day operations and times of transition

CONTENT DESCRIPTION AND KEY CONCEPTS: This course addresses a range of areas that might be encountered during the evolution and growth of a company. Topics include: organizational structures, consolidated financial statements, foreign exchange, due diligence requirements and approaches for structuring a business transition. In addition, those who work in the accounting function will gain an understanding of how to take a leadership role in creating a value-centered department that can help to support the growth and development initiatives that occur over the life cycle of a business.

CERTIFIED SKILLSETS: Students will gain competency in all of the following areas:

• Understand how to work with the technical areas that could arise as a result of expanded operations, including consolidated financial statements and foreign exchange.
• Understand the due diligence process and the financial information to be accumulated and assessed in evaluating the purchase of a business.
• Identify and accumulate the information typically provided when a business is sold.
• Gain an awareness of the general ways in which ownership and management of a business could transition, including family succession, employee succession, and sale of either assets or shares.
• Understand how an accounting function could be enhanced to provide value beyond its typical day-to-day role, including in times of growth and transition.

QUIZZES, CASE STUDIES AND PRACTICE MANAGEMENT THESIS: Chapters end with multiple-choice review questions and true-to-life scenarios found online test the practical application of the key concepts covered in the chapter. Actual time spent is influenced by factors such as the student’s background and individual learning style.

KNOWLEDGE BUREAU TOOLS INCLUDED: Students will have access to all of the following Knowledge Bureau tools and resources:

• EverGreen Explanatory Notes
• Knowledge Bureau Calculators
  • Financial Assessment Calculator
  • Income Tax Estimator
  • Marginal Tax Rate Calculator
  • Investment Income Calculator
  • Cash Flow Calculator
  • Registered vs. Non-Registered Calculator
  • Fixed vs. Variable Income Calculator
  • Tax-Efficient Retirement Income Calculator

For more information, contact Knowledge Bureau at 1-866-953-4769 or register online.

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