Understand the Issues Involved in Business Sale or Succession

Accounting for Business Transitions

Bookkeeping and Accounting

By: Evelyn Jacks

PROGRAM: Bookkeeping Services Specialist, Business Services Specialist

At some time in the life cycle of a business, the owner/manager must deal with the sale or succession of the business. Students of this course will receive a working understanding of the business issues involved and be familiar with the financial information that the owner/manager typically requires in making business decisions on the sale or transfer of the business.

COURSE OVERVIEW: This course in the Bookkeeping Services Specialist designation program covers the many special business issues that an owner/manager faces surrounding the life cycle of a business, including: purchase and sale of a business, financing the business, and planning for business succession.

CERTIFIED SKILLSETS: The student will:

• understand how to record and adjust transactions denominated in a foreign currency
• understand the principles involved in preparing consolidated and combined financial statements
• prepare and post journal entries to eliminate inter-company transactions
• be aware of the financial and other 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
• be aware of the general ways in which ownership and management of a business pass, including family succession, employee succession and a sale of either assets or shares, and the issues to be addressed in each

PRACTICE MANAGEMENT THESIS: Formal Case Study. The student will apply the knowledge gained in the course to provide information specific to the sale of a sample company.

KNOWLEDGE BUREAU TOOLS INCLUDED:

• EverGreen Explanatory Notes

MARKS ALLOCATION: