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To help improve the management and operational efficiency of practices, especially small- and medium-sized accountancy practices (SMPs), this area is intended to help those managing practices to address opportunities and challenges; improve their competitiveness, profitability, and sustainability; enhance their expertise, competence, and efficiency; create an environment conducive to the provision of high-quality services; and showcase global best practices and latest practice management techniques. Read More
You are now viewing all "succession planning" resources. View All Practice Management Resources
This article explores the three steps that you should be considering as you tackle this important issue in your firm.
Don’t neglect your new practice’s most important asset.
Separating a major practice area from a firm during a merger.
Cash deals make the transition period less complicated.
Here are some of the most common myths regarding succession planning, along with the sometimes harsher realities.
Goodwill depends on the method of departure.
In this final part, assuming you have now dealt with the housekeeping issue detailed previously are now ready to go ahead with your plan whether it be for a third party sale or merger or an internal ‘buy in’ to an existing or new partner.